Kiker Wealth Management LLC Cuts Stock Holdings in Coinbase Global, Inc. $COIN

Kiker Wealth Management LLC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 353 shares of the cryptocurrency exchange’s stock after selling 48 shares during the period. Kiker Wealth Management LLC’s holdings in Coinbase Global were worth $124,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 113 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Coinbase Global during the second quarter valued at approximately $55,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Coinbase Global during the first quarter valued at approximately $30,000. S Bank Fund Management Ltd purchased a new stake in shares of Coinbase Global during the first quarter valued at approximately $31,000. Finally, Ameriflex Group Inc. grew its holdings in shares of Coinbase Global by 20.0% during the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 0.0%

Shares of Coinbase Global stock opened at $356.99 on Tuesday. The company’s fifty day simple moving average is $325.84 and its 200-day simple moving average is $289.77. The stock has a market capitalization of $91.73 billion, a PE ratio of 34.53 and a beta of 3.68. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler restated a “neutral” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Redburn Partners set a $417.00 target price on shares of Coinbase Global in a report on Friday, October 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Coinbase Global in a report on Saturday, September 27th. Bank of America dropped their target price on shares of Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. Finally, Benchmark raised their target price on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a “buy” rating in a report on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $367.12.

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at $186,977.22. This trade represents a 97.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 1,742 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $322.22, for a total transaction of $561,307.24. Following the sale, the chief financial officer owned 5,226 shares in the company, valued at $1,683,921.72. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 372,815 shares of company stock worth $135,227,072. 23.43% of the stock is currently owned by insiders.

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.