Arbor Capital Management Inc. ADV Sells 2,639 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Arbor Capital Management Inc. ADV cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 30.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,059 shares of the cryptocurrency exchange’s stock after selling 2,639 shares during the period. Coinbase Global makes up 1.5% of Arbor Capital Management Inc. ADV’s holdings, making the stock its 26th biggest holding. Arbor Capital Management Inc. ADV’s holdings in Coinbase Global were worth $1,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in COIN. Principal Financial Group Inc. increased its position in shares of Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after acquiring an additional 36,843 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Coinbase Global by 12.6% during the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the cryptocurrency exchange’s stock worth $276,000 after acquiring an additional 173 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Coinbase Global by 8.0% during the third quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock worth $265,000 after acquiring an additional 110 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in shares of Coinbase Global by 8.9% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,307 shares of the cryptocurrency exchange’s stock worth $233,000 after acquiring an additional 107 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Coinbase Global by 6.7% during the third quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange’s stock worth $11,552,000 after acquiring an additional 4,076 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. HC Wainwright restated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Finally, Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $316.67.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares in the company, valued at $2,846,236.91. This trade represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $183.12 on Monday. The stock has a market capitalization of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm’s 50 day moving average is $255.08 and its 200 day moving average is $241.14. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 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%. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 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.