Wealthspire Advisors LLC Cuts Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Wealthspire Advisors LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,129 shares of the cryptocurrency exchange’s stock after selling 170 shares during the period. Wealthspire Advisors LLC’s holdings in Coinbase Global were worth $280,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COIN. Assenagon Asset Management S.A. boosted its position in Coinbase Global by 36.2% during the third quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock valued at $638,000 after buying an additional 952 shares during the period. abrdn plc boosted its position in Coinbase Global by 625.1% during the third quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock valued at $6,198,000 after buying an additional 29,990 shares during the period. Integrated Advisors Network LLC boosted its position in Coinbase Global by 104.4% during the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock valued at $351,000 after buying an additional 1,005 shares during the period. Pathway Financial Advisers LLC boosted its position in Coinbase Global by 16,928.6% during the third quarter. Pathway Financial Advisers LLC now owns 3,576 shares of the cryptocurrency exchange’s stock valued at $637,000 after buying an additional 3,555 shares during the period. Finally, Golden State Equity Partners raised its stake in shares of Coinbase Global by 2.5% during the third quarter. Golden State Equity Partners now owns 2,883 shares of the cryptocurrency exchange’s stock valued at $514,000 after acquiring an additional 69 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,386,983.38. This trade represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,069 shares of company stock valued at $66,488,684. Company insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $208.37 on Friday. The firm’s 50-day simple moving average is $269.37 and its two-hundred day simple moving average is $240.48. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market cap of $52.90 billion, a PE ratio of 21.93 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results 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%. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

COIN has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $311.56.

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.