Hollencrest Capital Management Reduces Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Hollencrest Capital Management cut its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 70.7% during the third quarter, Holdings Channel.com reports. The firm owned 304 shares of the cryptocurrency exchange’s stock after selling 733 shares during the quarter. Hollencrest Capital Management’s holdings in Coinbase Global were worth $54,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC raised its position in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after buying an additional 104 shares during the period. Lynx Investment Advisory purchased a new stake in Coinbase Global in the second quarter valued at $29,000. Geneos Wealth Management Inc. raised its position in Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc lifted its stake in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global during the 3rd quarter worth $32,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Mizuho boosted their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. B. Riley started coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Finally, Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $246.28.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now directly owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now owns 187,601 shares in the company, valued at approximately $30,436,386.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the sale, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at $33,150,716.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,822 shares of company stock worth $16,372,294. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 5.9 %

Shares of NASDAQ COIN opened at $270.74 on Friday. The business has a 50-day moving average of $183.17 and a two-hundred day moving average of $208.93. The company has a market capitalization of $67.27 billion, a price-to-earnings ratio of 46.20 and a beta of 3.34. Coinbase Global, Inc. has a 1 year low of $88.62 and a 1 year high of $283.48. 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 (NASDAQ:COIN) last posted its 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 for 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%. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. On average, analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

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.