Steward Partners Investment Advisory LLC Sells 5,005 Shares of Coinbase Global, Inc. $COIN

Steward Partners Investment Advisory LLC decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 33.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,764 shares of the cryptocurrency exchange’s stock after selling 5,005 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Coinbase Global were worth $3,422,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Evelyn Partners Investment Management Europe Ltd lifted its holdings in shares of Coinbase Global by 92.3% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 36 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Coinbase Global during the second quarter valued at $30,000. City State Bank bought a new stake in shares of Coinbase Global in the second quarter valued at about $33,000. Financial Gravity Companies Inc. purchased a new stake in Coinbase Global in the second quarter worth about $34,000. Finally, Fourth Dimension Wealth LLC grew its holdings in Coinbase Global by 300.0% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock worth $35,000 after acquiring an additional 75 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 4.3%

Shares of NASDAQ:COIN opened at $264.97 on Friday. The business’s 50-day moving average is $321.46 and its 200 day moving average is $317.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The firm has a market capitalization of $71.45 billion, a P/E ratio of 22.92 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 55.1% on a year-over-year basis. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,787 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $244.49, for a total transaction of $436,903.63. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $260.33, for a total transaction of $715,907.50. The disclosure for this sale is available in the SEC filing. Insiders sold 762,995 shares of company stock worth $235,840,503 over the last ninety days. Company insiders own 17.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COIN shares. Jefferies Financial Group restated a “hold” rating and issued a $384.00 price target on shares of Coinbase Global in a report on Wednesday, October 29th. Argus reissued a “hold” rating on shares of Coinbase Global in a report on Tuesday. HC Wainwright upgraded Coinbase Global from a “sell” rating to a “buy” rating and upped their target price for the stock from $300.00 to $425.00 in a report on Thursday, October 30th. BTIG Research increased their target price on Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Bank of America reduced their price target on Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $398.08.

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.