Executive Wealth Management LLC Trims Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Executive Wealth Management LLC lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,022 shares of the cryptocurrency exchange’s stock after selling 433 shares during the quarter. Executive Wealth Management LLC’s holdings in Coinbase Global were worth $1,712,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. West Branch Capital LLC purchased a new stake in shares of Coinbase Global during the 4th quarter valued at approximately $25,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Coinbase Global in the fourth quarter valued at approximately $25,000. Wagner Wealth Management LLC acquired a new position in Coinbase Global during the fourth quarter worth $27,000. Cornerstone Advisory LLC purchased a new position in shares of Coinbase Global during the fourth quarter worth $27,000. Finally, Gradient Investments LLC boosted its position in shares of Coinbase Global by 222.9% during the fourth quarter. Gradient Investments LLC now owns 113 shares of the cryptocurrency exchange’s stock worth $29,000 after buying an additional 78 shares during the period. 39.01% of the stock is currently owned by hedge funds and other institutional investors.

In other Coinbase Global news, insider Paul Grewal sold 1,090 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $67.26, for a total transaction of $73,313.40. Following the transaction, the insider now directly owns 43,220 shares of the company’s stock, valued at approximately $2,906,977.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III bought 30,030 shares of Coinbase Global stock in a transaction dated Tuesday, May 24th. The stock was acquired at an average cost of $60.60 per share, with a total value of $1,819,818.00. Following the completion of the acquisition, the director now directly owns 1,121,844 shares of the company’s stock, valued at approximately $67,983,746.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 1,121,844 shares of company stock worth $76,837,576. 36.10% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:COIN opened at $51.91 on Thursday. Coinbase Global, Inc. has a 12 month low of $40.83 and a 12 month high of $368.90. The firm has a market capitalization of $11.39 billion, a P/E ratio of 5.53 and a beta of 3.17. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.55. The company’s fifty day moving average price is $86.82 and its 200 day moving average price is $165.01.

Coinbase Global (NASDAQ:COINGet Rating) last posted its earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($2.72). The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.48 billion. Coinbase Global had a return on equity of 42.39% and a net margin of 33.63%. The firm’s revenue for the quarter was down 35.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.05 EPS. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post -8.16 EPS for the current year.

A number of equities analysts recently commented on COIN shares. DA Davidson lowered their target price on Coinbase Global from $225.00 to $160.00 in a report on Tuesday, May 10th. Canaccord Genuity Group dropped their price objective on shares of Coinbase Global from $275.00 to $120.00 in a report on Wednesday, May 11th. Piper Sandler reduced their target price on shares of Coinbase Global from $180.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, June 15th. Cowen assumed coverage on shares of Coinbase Global in a research report on Thursday, May 26th. They issued an “outperform” rating and a $85.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on Coinbase Global from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 15th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $203.65.

Coinbase Global Company Profile (Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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