Wealthspire Advisors LLC Has $280,000 Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Wealthspire Advisors LLC trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,129 shares of the cryptocurrency exchange’s stock after selling 170 shares during the period. Wealthspire Advisors LLC’s holdings in Coinbase Global were worth $280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global in the third quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global in the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 106 shares during the period. Brown Brothers Harriman & Co. grew its stake in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares during the period. Finally, Bogart Wealth LLC boosted its position in shares of Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 149 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on COIN shares. Mizuho reduced their price objective on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Keefe, Bruyette & Woods upped their target price on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and an average price target of $311.56.

Coinbase Global Trading Down 2.2 %

Shares of COIN stock opened at $208.37 on Friday. The company’s fifty day simple moving average is $269.37 and its two-hundred day simple moving average is $240.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The stock has a market capitalization of $52.90 billion, a price-to-earnings ratio of 21.93 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,074,056.70. The trade was a 42.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 237,069 shares of company stock worth $66,488,684 in the last three months. Corporate insiders own 23.43% of the company’s stock.

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.