Brookstone Capital Management Sells 77 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Brookstone Capital Management lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,277 shares of the cryptocurrency exchange’s stock after selling 77 shares during the period. Brookstone Capital Management’s holdings in Coinbase Global were worth $565,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banco Santander S.A. raised its position in Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after acquiring an additional 16,737 shares during the period. Global Retirement Partners LLC raised its holdings in Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after purchasing an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global in the 3rd quarter worth $29,756,000. Lindbrook Capital LLC lifted its position in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Coinbase Global during the second quarter valued at about $2,908,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on COIN shares. Barclays raised their price objective on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. B. Riley assumed coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, Piper Sandler upped their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $282.83.

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $209.98, for a total value of $2,099,800.00. Following the completion of the sale, the insider now directly owns 74,956 shares in the company, valued at $15,739,260.88. This trade represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $203.30, for a total transaction of $304,950.00. Following the sale, the chief operating officer now directly owns 175,101 shares in the company, valued at approximately $35,598,033.30. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 347,033 shares of company stock worth $102,613,277. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $295.48 on Friday. The business has a 50 day simple moving average of $290.71 and a two-hundred day simple moving average of $230.81. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The stock has a market capitalization of $73.97 billion, a PE ratio of 50.42 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) earnings per share. On average, research analysts predict that Coinbase Global, Inc. will post 4.69 EPS for the current fiscal year.

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.