Independent Advisor Alliance Sells 249 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Independent Advisor Alliance trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,675 shares of the cryptocurrency exchange’s stock after selling 249 shares during the period. Independent Advisor Alliance’s holdings in Coinbase Global were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Estate Counselors LLC purchased a new stake in Coinbase Global in the 3rd quarter worth about $1,484,000. Daiwa Securities Group Inc. boosted its position in Coinbase Global by 12.4% during the third quarter. Daiwa Securities Group Inc. now owns 14,464 shares of the cryptocurrency exchange’s stock worth $2,577,000 after purchasing an additional 1,600 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Coinbase Global by 61.5% in the third quarter. Westfield Capital Management Co. LP now owns 328,270 shares of the cryptocurrency exchange’s stock worth $58,488,000 after purchasing an additional 124,968 shares in the last quarter. Swedbank AB raised its position in shares of Coinbase Global by 1.6% in the third quarter. Swedbank AB now owns 46,206 shares of the cryptocurrency exchange’s stock valued at $8,233,000 after purchasing an additional 730 shares during the period. Finally, Cerity Partners LLC boosted its holdings in Coinbase Global by 11.0% in the 3rd quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock worth $2,513,000 after buying an additional 1,393 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COIN. Monness Crespi & Hardt initiated coverage on Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 target price on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Finally, Compass Point decreased their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $255.22.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction on Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,966 shares of company stock worth $47,064,922 in the last 90 days. 23.43% of the stock is owned by company insiders.

Coinbase Global Price Performance

COIN opened at $293.29 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $73.43 billion, a P/E ratio of 50.05 and a beta of 3.34. The stock has a 50-day moving average price of $217.21 and a 200-day moving average price of $215.90. Coinbase Global, Inc. has a 12-month low of $112.18 and a 12-month high of $341.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue was up 78.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. Equities analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Coinbase Global 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.