Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,988 shares of the cryptocurrency exchange’s stock after selling 116 shares during the period. Sanctuary Advisors LLC’s holdings in Coinbase Global were worth $2,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D increased its holdings in shares of Coinbase Global by 0.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 71,245 shares of the cryptocurrency exchange’s stock worth $17,690,000 after buying an additional 556 shares during the last quarter. Allworth Financial LP increased its holdings in Coinbase Global by 4.1% in the 4th quarter. Allworth Financial LP now owns 2,265 shares of the cryptocurrency exchange’s stock valued at $562,000 after purchasing an additional 90 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Coinbase Global in the 4th quarter valued at approximately $5,696,000. Principal Securities Inc. increased its holdings in Coinbase Global by 35.3% in the 4th quarter. Principal Securities Inc. now owns 1,032 shares of the cryptocurrency exchange’s stock valued at $256,000 after purchasing an additional 269 shares during the last quarter. Finally, Everhart Financial Group Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at approximately $234,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $235.38 on Friday. The stock has a market cap of $59.76 billion, a P/E ratio of 24.78 and a beta of 3.61. The company has a fifty day simple moving average of $275.76 and a 200-day simple moving average of $240.11. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COIN. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday, February 18th. HC Wainwright reiterated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a report on Tuesday. Bank of America lifted their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, JMP Securities raised their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $306.17.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. The trade was a 3.80 % 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. Also, insider Paul Grewal sold 7,104 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 334,306 shares of company stock valued at $97,300,651 over the last ninety days. Insiders own 23.43% of the company’s stock.

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.