Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 33.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,762 shares of the cryptocurrency exchange’s stock after selling 20,071 shares during the period. Federated Hermes Inc.’s holdings in Coinbase Global were worth $6,915,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter worth $26,000. AlphaMark Advisors LLC acquired a new stake in Coinbase Global in the fourth quarter valued at $33,000. Harbor Investment Advisory LLC lifted its holdings in Coinbase Global by 68.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after buying an additional 100 shares during the last quarter. Coston McIsaac & Partners acquired a new position in shares of Coinbase Global during the 4th quarter worth about $52,000. Finally, Steph & Co. increased its holdings in shares of Coinbase Global by 100.0% in the 4th quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock valued at $52,000 after acquiring an additional 150 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of COIN opened at $224.37 on Thursday. The company has a market capitalization of $54.36 billion, a PE ratio of 831.00 and a beta of 3.41. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48. The company has a 50-day simple moving average of $229.46 and a 200-day simple moving average of $159.37. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, April 3rd. Raymond James raised Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. Finally, JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $165.43.

Insider Buying and Selling

In other news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the transaction, the chief accounting officer now owns 29,236 shares in the company, valued at $4,933,575. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total transaction of $193,965.00. Following the completion of the transaction, the chief operating officer now directly owns 233,142 shares in the company, valued at approximately $30,147,592.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 515,828 shares of company stock valued at $95,846,182. 33.16% of the stock is owned by insiders.

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.