Coinbase Global, Inc. (NASDAQ:COIN) Position Trimmed by Mutual Advisors LLC

Mutual Advisors LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,878 shares of the cryptocurrency exchange’s stock after selling 136 shares during the quarter. Mutual Advisors LLC’s holdings in Coinbase Global were worth $715,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Dakota Wealth Management bought a new stake in Coinbase Global during the fourth quarter worth approximately $509,000. Simon Quick Advisors LLC boosted its holdings in Coinbase Global by 8.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,122 shares of the cryptocurrency exchange’s stock worth $527,000 after buying an additional 166 shares in the last quarter. Oxinas Partners Wealth Management LLC bought a new stake in Coinbase Global during the fourth quarter worth approximately $265,000. Ballentine Partners LLC boosted its holdings in Coinbase Global by 4.5% during the fourth quarter. Ballentine Partners LLC now owns 3,463 shares of the cryptocurrency exchange’s stock worth $860,000 after buying an additional 150 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new stake in Coinbase Global during the fourth quarter worth approximately $278,000. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COIN shares. Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Mizuho lifted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Bank of America lifted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Finally, Monness Crespi & Hardt lifted their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $282.83.

Coinbase Global Stock Up 0.7 %

COIN stock opened at $298.00 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The company has a fifty day simple moving average of $290.54 and a 200 day simple moving average of $233.92. The firm has a market cap of $74.60 billion, a PE ratio of 50.85 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the firm posted ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. The trade was a 99.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 367,489 shares of company stock valued at $109,624,297. Insiders own 23.43% of the company’s stock.

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.