EP Wealth Advisors LLC Sells 969 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

EP Wealth Advisors LLC reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,524 shares of the cryptocurrency exchange’s stock after selling 969 shares during the quarter. EP Wealth Advisors LLC’s holdings in Coinbase Global were worth $1,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SOA Wealth Advisors LLC. increased its position in shares of Coinbase Global by 17.7% during the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 40 shares during the last quarter. Farther Finance Advisors LLC increased its position in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after acquiring an additional 40 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after acquiring an additional 44 shares during the period. Capital Advisors Wealth Management LLC lifted its holdings in shares of Coinbase Global by 3.2% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 45 shares during the last quarter. Finally, IPG Investment Advisors LLC boosted its stake in shares of Coinbase Global by 2.0% during the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after purchasing an additional 45 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COIN. Benchmark began coverage on shares of Coinbase Global in a research report on Wednesday, April 23rd. They issued a “buy” rating and a $252.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Compass Point restated a “sell” rating and set a $180.00 price objective on shares of Coinbase Global in a report on Monday, April 28th. Mizuho reduced their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Monness Crespi & Hardt lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $268.65.

Coinbase Global Stock Down 3.4 %

Shares of NASDAQ COIN opened at $199.47 on Friday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75. The stock’s fifty day simple moving average is $187.38 and its two-hundred day simple moving average is $242.76. The stock has a market capitalization of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Coinbase Global’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.53 EPS. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $144,786.76. This trade represents a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,742 shares of company stock worth $32,639,759 in the last 90 days. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Company 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.