B. Riley Wealth Advisors Inc. Has $669,000 Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

B. Riley Wealth Advisors Inc. decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 36.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,849 shares of the cryptocurrency exchange’s stock after selling 2,236 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Coinbase Global were worth $669,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in COIN. Banco Santander S.A. increased its position in Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after acquiring an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at $29,756,000. Lindbrook Capital LLC grew its position in Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after acquiring an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Coinbase Global in the 2nd quarter worth about $2,908,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $279.86 on Thursday. The firm has a 50 day moving average of $264.94 and a 200-day moving average of $226.46. The company has a market cap of $70.06 billion, a price-to-earnings ratio of 47.76 and a beta of 3.57. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, equities analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Bank of America upped their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays lifted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, Monness Crespi & Hardt started coverage on Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $276.22.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $179.69, for a total transaction of $269,535.00. Following the transaction, the chief operating officer now directly owns 186,101 shares of the company’s stock, valued at $33,440,488.69. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the completion of the sale, the insider now directly owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 270,720 shares of company stock worth $79,787,248 in the last three months. Company 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.