Waldron Private Wealth LLC Sells 138 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Waldron Private Wealth LLC lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 5.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,595 shares of the cryptocurrency exchange’s stock after selling 138 shares during the quarter. Waldron Private Wealth LLC’s holdings in Coinbase Global were worth $451,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Coinbase Global by 1.3% during the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after buying an additional 176,525 shares during the period. Morgan Stanley raised its position in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after acquiring an additional 511,397 shares during the period. Geode Capital Management LLC raised its position in shares of Coinbase Global by 3.2% in the first quarter. Geode Capital Management LLC now owns 2,341,989 shares of the cryptocurrency exchange’s stock worth $158,083,000 after acquiring an additional 73,036 shares during the period. Norges Bank purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $50,254,000. Finally, Northern Trust Corp increased its stake in shares of Coinbase Global by 4.3% during the third quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock worth $67,359,000 after purchasing an additional 37,019 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $223.41 on Tuesday. The company has a 50-day moving average of $217.78 and a two-hundred day moving average of $152.75. The stock has a market cap of $54.13 billion, a price-to-earnings ratio of 827.44 and a beta of 3.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period last year, the firm posted ($2.46) earnings per share. On average, equities research analysts expect that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a research note on Thursday, March 28th. Wedbush upped their price objective on shares of Coinbase Global from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Piper Sandler upped their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday. The Goldman Sachs Group upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating in a report on Friday, March 8th. Finally, Mizuho increased their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $163.70.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Emilie Choi sold 700 shares of Coinbase Global stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $130.29, for a total transaction of $91,203.00. Following the completion of the sale, the chief operating officer now owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The disclosure for this sale can be found here. Insiders have sold a total of 660,039 shares of company stock valued at $109,435,051 over the last ninety days. Corporate insiders own 33.16% of the company’s stock.

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.