Western Financial Corp CA Sells 5,299 Shares of Coinbase Global, Inc. $COIN

Western Financial Corp CA reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 83.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,085 shares of the cryptocurrency exchange’s stock after selling 5,299 shares during the period. Western Financial Corp CA’s holdings in Coinbase Global were worth $245,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in COIN. REAP Financial Group LLC acquired a new position in Coinbase Global during the third quarter valued at approximately $25,000. Palisade Asset Management LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $29,000. Salomon & Ludwin LLC raised its holdings in Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 88 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new position in Coinbase Global during the 3rd quarter worth $35,000. Finally, Cloud Capital Management LLC acquired a new position in Coinbase Global during the 3rd quarter worth $36,000. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Needham & Company LLC dropped their price objective on Coinbase Global from $290.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Compass Point lowered their target price on Coinbase Global from $190.00 to $140.00 and set a “sell” rating on the stock in a report on Friday, February 20th. UBS Group set a $264.00 price target on Coinbase Global in a report on Friday, February 13th. Rothschild & Co Redburn reduced their price objective on Coinbase Global from $281.00 to $254.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Sanford C. Bernstein lowered their price objective on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Nineteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $262.54.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $171.46 on Monday. The firm has a market cap of $45.28 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 3.31 and a beta of 3.60. The firm’s 50-day simple moving average is $181.73 and its 200-day simple moving average is $251.28. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.34 and a current ratio of 2.34.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 12th. The cryptocurrency exchange reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.17). The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.86 billion. Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%.The business’s revenue for the quarter was down 21.6% on a year-over-year basis. During the same period last year, the company earned $4.68 EPS. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 364,600 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $154.95, for a total transaction of $56,494,770.00. Following the completion of the transaction, the chief financial officer owned 402,165 shares in the company, valued at $62,315,466.75. This trade represents a 47.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 2,750 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $260.09, for a total value of $715,247.50. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 396,745 shares of company stock valued at $63,576,559. 16.56% of the stock is currently owned by insiders.

Coinbase Global Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.