Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Center for Financial Planning Inc.

Center for Financial Planning Inc. lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 291 shares of the cryptocurrency exchange’s stock after selling 41 shares during the period. Center for Financial Planning Inc.’s holdings in Coinbase Global were worth $72,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global during the third quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Coinbase Global during the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the last quarter. Finally, Bogart Wealth LLC grew its holdings in shares of Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

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 transaction of $1,521,159.00. Following the transaction, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 386,798 shares of company stock valued at $114,707,944. 23.43% of the stock is owned by insiders.

Analysts Set New Price Targets

COIN has been the topic of a number of research reports. Piper Sandler raised their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $250.00 to $290.00 in a report on Wednesday, January 29th. JMP Securities upped their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday. Finally, B. Riley initiated coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $301.17.

Coinbase Global Stock Performance

NASDAQ COIN opened at $274.31 on Friday. The firm has a 50-day moving average of $280.97 and a 200-day moving average of $238.16. 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 stock has a market cap of $68.67 billion, a PE ratio of 46.81 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.81 EPS for the current year.

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.