Coinbase Global, Inc. $COIN Shares Sold by Western Financial Corp CA

Western Financial Corp CA lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 83.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,085 shares of the cryptocurrency exchange’s stock after selling 5,299 shares during the quarter. Western Financial Corp CA’s holdings in Coinbase Global were worth $245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC acquired a new position in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new position in Coinbase Global in the third quarter worth approximately $29,000. Salomon & Ludwin LLC increased its holdings in shares of Coinbase Global by 4,400.0% in the third quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 88 shares in the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at $35,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $36,000. 68.84% of the stock is currently owned by institutional investors.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 1,375 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $250.27, for a total transaction of $344,121.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 9,950 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $201.60, for a total transaction of $2,005,920.00. Following the transaction, the chief financial officer owned 387,221 shares in the company, valued at approximately $78,063,753.60. This trade represents a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 396,745 shares of company stock valued at $63,576,559 over the last ninety days. Company insiders own 16.56% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent research reports. Citigroup decreased their target price on Coinbase Global from $505.00 to $400.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Canaccord Genuity Group decreased their price target on Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Oppenheimer dropped their price target on Coinbase Global from $381.00 to $370.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft set a $250.00 price objective on Coinbase Global in a report on Friday, February 13th. Finally, Bank of America decreased their target price on shares of Coinbase Global from $288.00 to $234.00 in a report on Thursday. Nineteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $262.54.

Coinbase Global Stock Performance

Coinbase Global stock opened at $171.46 on Monday. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.40. The stock has a market cap of $45.28 billion, a P/E ratio of 39.06, a P/E/G ratio of 3.31 and a beta of 3.60. The company’s fifty day simple moving average is $181.73 and its 200-day simple moving average is $251.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 12th. The cryptocurrency exchange reported $0.66 earnings per share (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 firm had revenue of $1.78 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the business posted $4.68 earnings per share. Coinbase Global’s revenue was down 21.6% on a year-over-year basis. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Coinbase Global Company Profile

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.