Wealthspire Advisors LLC Cuts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Wealthspire Advisors LLC lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 3.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,406 shares of the cryptocurrency exchange’s stock after selling 249 shares during the period. Wealthspire Advisors LLC’s holdings in Coinbase Global were worth $1,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barrett & Company Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $26,000. AlphaMark Advisors LLC purchased a new stake in Coinbase Global during the 4th quarter valued at $33,000. Signature Resources Capital Management LLC purchased a new stake in Coinbase Global during the 4th quarter valued at $39,000. Harbor Investment Advisory LLC boosted its stake in Coinbase Global by 68.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock valued at $43,000 after purchasing an additional 100 shares during the last quarter. Finally, Coston McIsaac & Partners purchased a new stake in Coinbase Global during the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several recent analyst reports. Piper Sandler increased their target price on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Citigroup raised their price target on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, May 3rd. JPMorgan Chase & Co. raised their price target on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, Barclays raised their target price on Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $200.63.

Coinbase Global Trading Up 0.5 %

NASDAQ COIN traded up $0.97 on Friday, hitting $211.42. 785,390 shares of the stock were exchanged, compared to its average volume of 12,905,764. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a fifty day moving average price of $237.68 and a two-hundred day moving average price of $169.71. The firm has a market capitalization of $51.22 billion, a P/E ratio of 42.01 and a beta of 3.46. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. Coinbase Global’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.46) earnings per share. Research analysts forecast that Coinbase Global, Inc. will post 2.71 EPS for the current fiscal year.

Insider Activity

In other news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $147.03, for a total transaction of $3,392,717.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the completion of the sale, the insider now directly owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $147.03, for a total transaction of $3,392,717.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,542 shares of company stock valued at $81,392,237. 33.16% of the stock is currently owned by company insiders.

Coinbase Global Profile

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.