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

EP Wealth Advisors LLC lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,524 shares of the cryptocurrency exchange’s stock after selling 969 shares during the quarter. EP Wealth Advisors LLC’s holdings in Coinbase Global were worth $1,123,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Coinbase Global in the fourth quarter worth $536,484,000. Groupama Asset Managment acquired a new stake in Coinbase Global during the 4th quarter worth about $372,450,000. Proficio Capital Partners LLC grew its position in Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after purchasing an additional 417,036 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock valued at $81,612,000 after buying an additional 302,595 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Coinbase Global by 614.8% in the fourth quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after buying an additional 295,313 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,074,056.70. This represents a 42.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. This represents a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,742 shares of company stock worth $32,639,759 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COIN. Piper Sandler lifted their price target on Coinbase Global from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday. Oppenheimer decreased their target price on shares of Coinbase Global from $279.00 to $269.00 and set an “outperform” rating for the company in a research note on Friday. Rosenblatt Securities dropped their price target on shares of Coinbase Global from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. HC Wainwright reiterated a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $268.65.

Coinbase Global Trading Down 3.4 %

Shares of COIN opened at $199.47 on Friday. The firm’s fifty day moving average is $187.38 and its two-hundred day moving average is $242.76. The stock has a market cap of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company posted $2.53 EPS. The firm’s revenue was up 24.2% on a year-over-year basis. Research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.