Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 30.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,460 shares of the cryptocurrency exchange’s stock after selling 25,051 shares during the period. Commonwealth Equity Services LLC’s holdings in Coinbase Global were worth $14,267,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the third quarter worth $25,000. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global during the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the period. Brown Brothers Harriman & Co. increased its holdings in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at about $50,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $188.96 on Tuesday. The firm’s fifty day simple moving average is $253.10 and its 200-day simple moving average is $241.15. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The stock has a market capitalization of $47.97 billion, a price-to-earnings ratio of 19.89 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on COIN shares. Piper Sandler upped their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Sanford C. Bernstein began coverage on shares of Coinbase Global in a research report on Monday. They issued an “outperform” rating and a $310.00 price objective on the stock. Canaccord Genuity Group lifted their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. HC Wainwright reissued a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Finally, Bank of America decreased their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $322.78.

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.