SteelPeak Wealth LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN – Free Report) by 71.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,087 shares of the cryptocurrency exchange’s stock after selling 5,335 shares during the period. SteelPeak Wealth LLC’s holdings in Coinbase Global were worth $518,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares in the last quarter. Capital Advisors Wealth Management LLC grew its stake in shares of Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 45 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock worth $106,000 after acquiring an additional 51 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of Coinbase Global by 2.0% in the fourth quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock valued at $652,000 after acquiring an additional 51 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in Coinbase Global by 2.8% in the fourth 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 period. Institutional investors and hedge funds own 68.84% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Finally, B. Riley initiated 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. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $289.06.
Insider Activity
In other news, insider Paul Grewal sold 7,104 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the transaction, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $172,528. This represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 376,205 shares of company stock valued at $112,487,737. Company insiders own 23.43% of the company’s stock.
Coinbase Global Trading Up 3.5 %
NASDAQ COIN opened at $301.30 on Friday. The firm’s fifty day moving average is $288.26 and its two-hundred day moving average is $235.66. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75. 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 firm has a market cap of $75.43 billion, a PE ratio of 51.42 and a beta of 3.59.
Coinbase Global (NASDAQ:COIN – Get Free Report) last posted its quarterly earnings data 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 net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company earned ($0.01) earnings per share. The firm’s revenue was up 78.8% on a year-over-year basis. Analysts expect that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.
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.
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