Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Lowered by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 31.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,672 shares of the cryptocurrency exchange’s stock after selling 774 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Coinbase Global were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cerity Partners LLC boosted its stake in shares of Coinbase Global by 11.0% during the 3rd quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock worth $2,513,000 after acquiring an additional 1,393 shares in the last quarter. GenTrust LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at $998,000. Nwam LLC increased its stake in Coinbase Global by 4.8% in the 3rd quarter. Nwam LLC now owns 6,868 shares of the cryptocurrency exchange’s stock worth $1,224,000 after purchasing an additional 314 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Coinbase Global by 46.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 375,600 shares of the cryptocurrency exchange’s stock worth $66,921,000 after buying an additional 119,259 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Coinbase Global by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after buying an additional 52,856 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 4.8 %

COIN opened at $296.20 on Friday. The firm has a market cap of $74.15 billion, a P/E ratio of 50.55 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The business has a 50 day moving average price of $225.65 and a 200 day moving average price of $217.86. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $341.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Research analysts forecast that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $91,487.18. This represents a 97.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alesia J. Haas sold 5,250 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the sale, the chief financial officer now owns 169,786 shares in the company, valued at $33,150,716.50. This represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 237,719 shares of company stock valued at $65,309,711. 23.43% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COIN shares. Needham & Company LLC boosted their price target on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a report on Monday, November 18th. Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Mizuho increased their price objective on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Finally, Monness Crespi & Hardt initiated coverage on Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 target price on the stock. One equities research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $255.22.

Coinbase Global 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.