B. Riley Wealth Advisors Inc. Sells 2,236 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

B. Riley Wealth Advisors Inc. cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 36.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,849 shares of the cryptocurrency exchange’s stock after selling 2,236 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Coinbase Global were worth $669,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC boosted its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Spirit of America Management Corp NY bought a new position in shares of Coinbase Global in the second quarter valued at approximately $33,000. ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global during the third quarter valued at approximately $32,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in Coinbase Global by 548.5% during the second quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock worth $48,000 after acquiring an additional 181 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Lawrence J. Brock sold 4,635 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the transaction, the insider now directly owns 18,525 shares in the company, valued at approximately $4,631,250. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the transaction, the insider now directly owns 74,956 shares in the company, valued at approximately $12,750,015.60. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,720 shares of company stock worth $79,787,248 in the last ninety days. 23.43% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $279.86 on Thursday. The company has a 50 day moving average of $264.94 and a 200 day moving average of $226.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $70.06 billion, a P/E ratio of 47.76 and a beta of 3.57. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the subject of several research analyst reports. Oppenheimer raised their target price on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. B. Riley assumed coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Bank of America boosted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $276.22.

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.