Plato Investment Management Ltd Sells 1,333 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Plato Investment Management Ltd decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 30.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,113 shares of the cryptocurrency exchange’s stock after selling 1,333 shares during the period. Plato Investment Management Ltd’s holdings in Coinbase Global were worth $776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in COIN. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $409,919,000. Proficio Capital Partners LLC increased its position in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after buying an additional 314,388 shares in the last quarter. Azora Capital LP increased its position in shares of Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after buying an additional 220,078 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Coinbase Global in the 3rd quarter valued at $38,535,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.3 %

Coinbase Global stock opened at $212.55 on Wednesday. The firm has a 50-day moving average of $265.52 and a 200-day moving average of $241.38. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $53.96 billion, a price-to-earnings ratio of 22.37 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Piper Sandler upped their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. HC Wainwright restated a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $311.56.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. This trade represents a 12.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $2,846,236.91. This trade represents a 52.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,455 shares of company stock worth $60,955,968. Insiders own 23.43% of the company’s stock.

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.