Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 36.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,028 shares of the cryptocurrency exchange’s stock after selling 598 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Coinbase Global were worth $273,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in Coinbase Global during the 1st quarter worth $282,000. Riverview Trust Co acquired a new position in shares of Coinbase Global in the 1st quarter worth approximately $43,000. Harbor Investment Advisory LLC boosted its holdings in shares of Coinbase Global by 161.9% during the first quarter. Harbor Investment Advisory LLC now owns 647 shares of the cryptocurrency exchange’s stock valued at $172,000 after acquiring an additional 400 shares during the period. Global Assets Advisory LLC acquired a new stake in Coinbase Global in the 1st quarter valued at approximately $20,653,000. Finally, APEIRON CAPITAL Ltd acquired a new stake in shares of Coinbase Global in the 1st quarter worth approximately $108,434,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler boosted their price objective on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 5th. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Wedbush raised their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average price target of $215.50.

Coinbase Global Stock Down 0.8 %

COIN opened at $222.23 on Friday. Coinbase Global, Inc. has a 1-year low of $68.15 and a 1-year high of $283.48. The business has a 50 day moving average of $227.70 and a 200-day moving average of $201.41. The stock has a market capitalization of $54.57 billion, a price-to-earnings ratio of 44.36 and a beta of 3.44. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Insider Buying and Selling

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $195.90, for a total value of $293,850.00. Following the sale, the chief operating officer now owns 204,436 shares of the company’s stock, valued at approximately $40,049,012.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $195.90, for a total value of $293,850.00. Following the completion of the transaction, the chief operating officer now directly owns 204,436 shares of the company’s stock, valued at approximately $40,049,012.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the transaction, the director now owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The disclosure for this sale can be found here. Insiders sold a total of 360,021 shares of company stock valued at $80,655,822 over the last ninety days. 23.43% of the stock is owned by company insiders.

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.