B. Riley Wealth Advisors Inc. Sells 3,218 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

B. Riley Wealth Advisors Inc. lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 37.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,450 shares of the cryptocurrency exchange’s stock after selling 3,218 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Coinbase Global were worth $1,445,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COIN. Barrett & Company Inc. bought a new stake in shares of Coinbase Global in the fourth quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new position in Coinbase Global in the fourth quarter valued at about $27,000. Concord Wealth Partners raised its stake in Coinbase Global by 322.2% in the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in Coinbase Global in the first quarter valued at about $32,000. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the transaction, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Lawrence J. Brock sold 16,456 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $223.34, for a total value of $3,675,283.04. Following the transaction, the insider now directly owns 16,140 shares in the company, valued at approximately $3,604,707.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the completion of the transaction, the insider now owns 71,195 shares in the company, valued at $16,784,221.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 280,176 shares of company stock worth $60,913,978. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $228.50 on Thursday. The business’s 50 day simple moving average is $235.31 and its 200 day simple moving average is $213.69. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The stock has a market capitalization of $56.11 billion, a PE ratio of 44.78 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, research analysts forecast that Coinbase Global, Inc. will post 4.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COIN. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research note on Friday, May 3rd. Canaccord Genuity Group boosted their target price on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Oppenheimer boosted their target price on Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research note on Friday, July 19th. Finally, Piper Sandler boosted their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $237.50.

Coinbase Global Company 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.