Ellevest Inc. Sells 846 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Ellevest Inc. lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 43.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,095 shares of the cryptocurrency exchange’s stock after selling 846 shares during the period. Ellevest Inc.’s holdings in Coinbase Global were worth $272,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new stake in Coinbase Global in the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB raised 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 last quarter. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global during the 4th quarter valued at about $50,000. Finally, BNP Paribas bought a new position in shares of Coinbase Global in the 4th quarter valued at about $50,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $199.47 on Friday. The stock has a market capitalization of $50.64 billion, a price-to-earnings ratio of 21.00 and a beta of 3.62. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The firm has a fifty day simple moving average of $187.38 and a 200 day simple moving average of $243.06. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the business earned $2.53 EPS. Coinbase Global’s revenue was up 24.2% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a report on Friday. Mizuho reduced their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Cantor Fitzgerald began coverage on Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price objective for the company. Sanford C. Bernstein upgraded Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $268.65.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $200.54, for a total transaction of $5,013,500.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $105,484.04. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This represents a 6.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,742 shares of company stock valued at $32,639,759 in the last 90 days. 17.65% of the stock is currently owned by insiders.

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.