Coinbase Global, Inc. $COIN Position Cut by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 18.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,333 shares of the cryptocurrency exchange’s stock after selling 2,813 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Coinbase Global were worth $4,338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. North Star Investment Management Corp. bought a new position in Coinbase Global during the 2nd quarter valued at $55,000. McClarren Financial Advisors Inc. bought a new position in Coinbase Global during the 1st quarter valued at $30,000. S Bank Fund Management Ltd bought a new position in Coinbase Global during the 1st quarter valued at $31,000. Finally, Ameriflex Group Inc. boosted its stake in Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after purchasing an additional 30 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Jennifer N. Jones sold 1,756 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $300.52, for a total value of $527,713.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 1,742 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $322.22, for a total value of $561,307.24. Following the completion of the sale, the chief financial officer owned 5,226 shares of the company’s stock, valued at $1,683,921.72. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 372,815 shares of company stock valued at $135,227,072. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

COIN opened at $356.99 on Tuesday. The stock has a fifty day moving average of $325.84 and a 200-day moving average of $289.77. The firm has a market capitalization of $91.73 billion, a P/E ratio of 34.53 and a beta of 3.68. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COIN. BTIG Research began coverage on Coinbase Global in a research note on Wednesday, October 1st. They set a “buy” rating and a $410.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $417.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Wall Street Zen upgraded Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Jefferies Financial Group increased their price objective on Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research report on Tuesday, July 29th. Finally, Erste Group Bank assumed coverage on Coinbase Global in a research report on Wednesday, July 23rd. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus target price of $367.12.

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.