Simplicity Solutions LLC Sells 317 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Simplicity Solutions LLC decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,391 shares of the cryptocurrency exchange’s stock after selling 317 shares during the period. Simplicity Solutions LLC’s holdings in Coinbase Global were worth $590,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in COIN. Barrett & Company Inc. bought a new position in Coinbase Global during the 4th quarter valued at approximately $26,000. Ancora Advisors LLC boosted its holdings in Coinbase Global by 144.0% in the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 435 shares in the last quarter. Tyler Stone Wealth Management purchased a new stake in shares of Coinbase Global in the second quarter worth $31,000. AlphaMark Advisors LLC bought a new position in shares of Coinbase Global during the fourth quarter valued at $33,000. Finally, Bessemer Group Inc. raised its position in shares of Coinbase Global by 100.0% in the 4th quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock worth $36,000 after purchasing an additional 500 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $248.00, for a total value of $372,000.00. Following the completion of the sale, the chief operating officer now directly owns 215,351 shares of the company’s stock, valued at $53,407,048. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $248.00, for a total transaction of $372,000.00. Following the sale, the chief operating officer now directly owns 215,351 shares of the company’s stock, valued at $53,407,048. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 590,978 shares of company stock worth $103,440,000. Company insiders own 33.16% of the company’s stock.

Coinbase Global Trading Down 2.3 %

NASDAQ:COIN opened at $213.78 on Thursday. The firm has a market capitalization of $51.79 billion, a price-to-earnings ratio of 791.78 and a beta of 3.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $221.60 and a 200-day moving average price of $154.18. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.46) earnings per share. Sell-side analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on COIN. The Goldman Sachs Group upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research note on Friday, March 8th. Citigroup raised their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Barclays increased their target price on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Finally, Needham & Company LLC upped their price target on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $163.70.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.