J.W. Cole Advisors Inc. Cuts Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

J.W. Cole Advisors Inc. reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,291 shares of the cryptocurrency exchange’s stock after selling 302 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Coinbase Global were worth $817,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Clear Street Derivatives LLC bought a new position in Coinbase Global during the 3rd quarter worth approximately $409,919,000. Geode Capital Management LLC boosted its stake in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. Azora Capital LP grew its holdings in shares of Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after purchasing an additional 220,078 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Coinbase Global in the third quarter worth $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global during the 3rd quarter valued at $29,756,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $264.63 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $66.25 billion, a price-to-earnings ratio of 45.16 and a beta of 3.61. The firm has a 50 day moving average price of $279.49 and a 200-day moving average price of $239.21. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Equities research analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the sale, the director now owns 10,417 shares in the company, valued at approximately $3,074,056.70. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 336,143 shares of company stock worth $97,842,603 in the last quarter. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on COIN. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. JMP Securities boosted their price target on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Piper Sandler upped their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Oppenheimer cut their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Finally, Monness Crespi & Hardt upped their target price on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.94.

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.