Stablepoint Partners LLC Sells 2,857 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Stablepoint Partners LLC cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 30.1% in the 1st quarter, Holdings Channel reports. The firm owned 6,633 shares of the cryptocurrency exchange’s stock after selling 2,857 shares during the period. Stablepoint Partners LLC’s holdings in Coinbase Global were worth $1,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth $25,000. Copia Wealth Management acquired a new stake in Coinbase Global in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global in the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new position in Coinbase Global during the fourth quarter worth about $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Coinbase Global in the fourth quarter worth about $35,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COIN. Compass Point raised shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price target on the stock in a report on Monday, May 12th. HC Wainwright reaffirmed a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price target for the company. Citigroup reissued a “neutral” rating on shares of Coinbase Global in a report on Thursday, May 8th. Finally, JMP Securities restated a “market outperform” rating and set a $400.00 price objective on shares of Coinbase Global in a research report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.10.

Coinbase Global Price Performance

Shares of COIN opened at $251.27 on Friday. The business has a 50-day moving average of $212.70 and a 200-day moving average of $243.78. 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 capitalization of $63.79 billion, a price-to-earnings ratio of 26.45 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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 firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.53 EPS. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $247.15, for a total value of $6,178,750.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $130,000.90. The trade was a 97.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the transaction, the director now owns 10,417 shares in the company, valued at $2,632,167.56. The trade was a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,717 shares of company stock valued at $42,980,101. 17.65% of the stock is currently owned by 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.