Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The firm 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 SEC filing.

A number of other large investors have also made changes to their positions in the business. Crestone Asset Management LLC purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $232,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Coinbase Global by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock valued at $114,211,000 after buying an additional 37,847 shares during the last quarter. Lincoln National Corp grew its holdings in shares of Coinbase Global by 194.0% during the fourth quarter. Lincoln National Corp now owns 10,456 shares of the cryptocurrency exchange’s stock valued at $1,819,000 after buying an additional 6,900 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Coinbase Global by 4.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 13,181 shares of the cryptocurrency exchange’s stock valued at $2,292,000 after buying an additional 553 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $219,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

COIN stock traded up $0.97 during mid-day trading on Friday, reaching $211.42. The company’s stock had a trading volume of 785,390 shares, compared to its average volume of 12,905,764. The stock has a market cap of $51.22 billion, a PE ratio of 42.01 and a beta of 3.46. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The company’s 50 day moving average is $237.68 and its two-hundred day moving average is $169.71.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same quarter in the prior year, the company posted ($2.46) EPS. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities research analysts expect that Coinbase Global, Inc. will post 2.71 EPS for the current year.

Insider Activity

In other news, insider Paul Grewal sold 42,113 shares of the stock in a transaction that occurred on 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 owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Paul Grewal sold 42,113 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the transaction, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The disclosure for this sale can be found here. Insiders sold a total of 361,542 shares of company stock valued at $81,392,237 in the last 90 days. Company insiders own 33.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on COIN shares. Needham & Company LLC lowered their price target on shares of Coinbase Global from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Sanford C. Bernstein upped their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Bank of America upped their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 10th. Finally, HC Wainwright upped their price objective on shares of Coinbase Global from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $200.63.

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.