Avion Wealth Sells 44 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Avion Wealth cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 9.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 420 shares of the cryptocurrency exchange’s stock after selling 44 shares during the period. Avion Wealth’s holdings in Coinbase Global were worth $104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Clear Street Derivatives LLC bought a new position in Coinbase Global during the 3rd quarter valued at approximately $409,919,000. Geode Capital Management LLC grew its stake in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares during the last quarter. Azora Capital LP increased its holdings in shares of Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after acquiring an additional 220,078 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Coinbase Global in the 3rd quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global in the 3rd quarter worth about $29,756,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $266.90 on Wednesday. Coinbase Global, Inc. has a 52 week low of $137.13 and a 52 week high of $349.75. The firm has a market capitalization of $66.82 billion, a P/E ratio of 45.55 and a beta of 3.61. The company has a fifty day simple moving average of $283.93 and a two-hundred day simple moving average of $237.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 15,228 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total value of $4,271,606.28. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $2,922,072.67. This trade represents a 59.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the sale, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 361,798 shares of company stock worth $107,826,444. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on COIN shares. Monness Crespi & Hardt raised their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. HC Wainwright lifted their target price on Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley assumed coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $250.00 to $290.00 in a research report on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $286.00.

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.