Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 25.9% during the 4th quarter, HoldingsChannel reports. The fund owned 858 shares of the cryptocurrency exchange’s stock after selling 300 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Coinbase Global were worth $213,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COIN. Flagship Harbor Advisors LLC boosted its holdings in Coinbase Global by 2.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 2,029 shares of the cryptocurrency exchange’s stock valued at $504,000 after purchasing an additional 56 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Coinbase Global by 224.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 661 shares of the cryptocurrency exchange’s stock valued at $164,000 after buying an additional 457 shares during the period. Dynamic Advisor Solutions LLC acquired a new position in Coinbase Global in the fourth quarter valued at approximately $213,000. Exchange Traded Concepts LLC increased its stake in Coinbase Global by 9.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 90,265 shares of the cryptocurrency exchange’s stock worth $22,413,000 after acquiring an additional 7,597 shares during the last quarter. Finally, Impact Partnership Wealth LLC increased its stake in Coinbase Global by 11.5% during the fourth quarter. Impact Partnership Wealth LLC now owns 1,942 shares of the cryptocurrency exchange’s stock worth $482,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total transaction of $304,950.00. Following the completion of the transaction, the chief operating officer now owns 175,101 shares in the company, valued at $35,598,033.30. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 367,489 shares of company stock valued at $109,624,297 over the last quarter. 23.43% of the stock is owned by insiders.

Analysts Set New Price Targets

COIN has been the subject of a number of research analyst reports. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Oppenheimer cut their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $282.83.

Coinbase Global Stock Performance

Shares of COIN opened at $298.00 on Monday. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The stock has a market capitalization of $74.60 billion, a PE ratio of 50.85 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50-day simple moving average of $290.54 and a 200-day simple moving average of $233.92.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm earned ($0.01) EPS. The company’s revenue was up 78.8% on a year-over-year basis. On average, analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

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.