Clear Creek Financial Management LLC Sells 4,882 Shares of Coinbase Global, Inc. $COIN

Clear Creek Financial Management LLC lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 68.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,239 shares of the cryptocurrency exchange’s stock after selling 4,882 shares during the period. Clear Creek Financial Management LLC’s holdings in Coinbase Global were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. REAP Financial Group LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $25,000. Palisade Asset Management LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $29,000. Salomon & Ludwin LLC raised its stake in Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 88 shares during the period. Foster Dykema Cabot & Partners LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $35,000. Finally, Cloud Capital Management LLC bought a new stake in Coinbase Global in the 3rd quarter valued at $36,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $167.85 on Monday. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64. The firm’s 50 day moving average is $178.41 and its 200-day moving average is $245.67. The stock has a market capitalization of $44.33 billion, a PE ratio of 38.23, a P/E/G ratio of 3.73 and a beta of 3.60. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its earnings results on Thursday, February 12th. The cryptocurrency exchange reported $0.66 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.17). Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%.The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $4.68 earnings per share. The firm’s revenue for the quarter was down 21.6% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 364,600 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $154.95, for a total value of $56,494,770.00. Following the transaction, the chief financial officer owned 402,165 shares in the company, valued at approximately $62,315,466.75. This trade represents a 47.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 2,750 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $260.09, for a total value of $715,247.50. The SEC filing for this sale provides additional information. Insiders sold 396,745 shares of company stock worth $63,576,559 in the last 90 days. 16.56% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on COIN. JPMorgan Chase & Co. dropped their price target on Coinbase Global from $399.00 to $290.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 10th. Rothschild & Co Redburn dropped their price target on Coinbase Global from $281.00 to $254.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. The Goldman Sachs Group decreased their price objective on Coinbase Global from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Compass Point decreased their price objective on Coinbase Global from $190.00 to $140.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Finally, Canaccord Genuity Group decreased their price objective on Coinbase Global from $400.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Nineteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $260.11.

Get Our Latest Stock Analysis on COIN

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About Coinbase Global

(Free Report)

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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