Spire Wealth Management Decreases Position in Coinbase Global, Inc. (NASDAQ:COIN)

Spire Wealth Management cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 9.3% in the fourth quarter, Holdings Channel reports. The firm owned 4,511 shares of the cryptocurrency exchange’s stock after selling 460 shares during the period. Spire Wealth Management’s holdings in Coinbase Global were worth $785,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Barrett & Company Inc. purchased a new stake in Coinbase Global in the fourth quarter valued at approximately $26,000. AlphaMark Advisors LLC purchased a new position in Coinbase Global in the fourth quarter valued at $33,000. Signature Resources Capital Management LLC purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $39,000. Harbor Investment Advisory LLC raised its stake in shares of Coinbase Global by 68.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after buying an additional 100 shares during the period. Finally, Coston McIsaac & Partners acquired a new position in Coinbase Global during the fourth quarter worth $52,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 42,113 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the completion of the sale, the insider now owns 66,122 shares in the company, valued at $12,585,661.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $274.97, for a total value of $4,504,008.60. Following the sale, the director now directly owns 4,662 shares in the company, valued at $1,281,910.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at $12,585,661.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 361,542 shares of company stock worth $81,392,237. 33.16% of the stock is owned by company insiders.

Coinbase Global Stock Performance

Shares of COIN stock opened at $211.20 on Thursday. The stock’s 50-day moving average is $237.54 and its two-hundred day moving average is $169.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a market cap of $51.17 billion, a price-to-earnings ratio of 42.16 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The firm’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.46) earnings per share. Analysts predict that Coinbase Global, Inc. will post 2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Oppenheimer raised their target price on Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Wedbush increased their price target on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. Finally, The Goldman Sachs Group cut their price objective on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $200.63.

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.