SVB Wealth LLC Sells 1,568 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

SVB Wealth LLC trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,385 shares of the cryptocurrency exchange’s stock after selling 1,568 shares during the quarter. SVB Wealth LLC’s holdings in Coinbase Global were worth $4,937,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COIN. Barrett & Company Inc. bought a new position in shares of Coinbase Global during the fourth quarter worth $26,000. Ancora Advisors LLC boosted its position in shares of Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after purchasing an additional 435 shares in the last quarter. Tyler Stone Wealth Management bought a new position in shares of Coinbase Global during the second quarter worth $31,000. AlphaMark Advisors LLC bought a new position in shares of Coinbase Global during the fourth quarter worth $33,000. Finally, Bessemer Group Inc. boosted its position in shares of Coinbase Global by 100.0% during the fourth quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock worth $36,000 after purchasing an additional 500 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

COIN has been the topic of several research reports. Citigroup boosted their price objective on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research report on Friday, January 19th. Piper Sandler boosted their price objective on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Canaccord Genuity Group restated a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a research note on Thursday, March 28th. JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Finally, Barclays boosted their price objective on shares of Coinbase Global from $146.00 to $179.00 and gave the stock an “underweight” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $163.70.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the sale, the chief financial officer now owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $131.57, for a total value of $12,872,282.52. Following the completion of the transaction, the director now directly owns 6,072 shares in the company, valued at approximately $798,893.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 64,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the sale, the chief financial officer now owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 562,203 shares of company stock valued at $96,530,482. Company insiders own 33.16% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $218.83 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $53.02 billion, a P/E ratio of 810.48 and a beta of 3.41. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The firm has a 50-day moving average price of $219.76 and a two-hundred day moving average price of $153.77.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same quarter in the prior year, the firm posted ($2.46) EPS. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. Analysts anticipate that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Coinbase Global 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.