Benjamin Edwards Inc. Decreases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Benjamin Edwards Inc. lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 53.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 314 shares of the cryptocurrency exchange’s stock after selling 366 shares during the quarter. Benjamin Edwards Inc.’s holdings in Coinbase Global were worth $55,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in COIN. Xponance Inc. grew its stake in shares of Coinbase Global by 5.6% during the 3rd quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock valued at $470,000 after purchasing an additional 333 shares during the period. Stratos Wealth Partners LTD. grew its position in Coinbase Global by 3.4% during the third quarter. Stratos Wealth Partners LTD. now owns 3,759 shares of the cryptocurrency exchange’s stock valued at $282,000 after buying an additional 125 shares during the period. Brown Advisory Inc. increased its holdings in Coinbase Global by 84.0% during the third quarter. Brown Advisory Inc. now owns 9,146 shares of the cryptocurrency exchange’s stock valued at $687,000 after buying an additional 4,175 shares during the last quarter. Lindbrook Capital LLC raised its position in Coinbase Global by 24.5% in the third quarter. Lindbrook Capital LLC now owns 46,175 shares of the cryptocurrency exchange’s stock worth $3,467,000 after acquiring an additional 9,100 shares during the period. Finally, Verdence Capital Advisors LLC boosted its stake in shares of Coinbase Global by 50.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,524 shares of the cryptocurrency exchange’s stock worth $340,000 after acquiring an additional 1,517 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a report on Friday, January 19th. Keefe, Bruyette & Woods boosted their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Mizuho boosted their target price on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. Finally, Piper Sandler increased their price target on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $185.48.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the transaction, the director now owns 4,662 shares in the company, valued at $558,181.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $119.73, for a total value of $9,833,424.90. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $147.03, for a total value of $3,392,717.25. The disclosure for this sale can be found here. Insiders have sold 420,597 shares of company stock valued at $86,053,862 in the last ninety days. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Trading Down 2.4 %

NASDAQ COIN opened at $223.25 on Friday. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $54.09 billion, a price-to-earnings ratio of 44.56 and a beta of 3.46. The company’s 50-day simple moving average is $236.37 and its two-hundred day simple moving average is $165.79.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 33.98% and a return on equity of 10.24%. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same period last year, the company posted ($2.46) earnings per share. Coinbase Global’s revenue was up 51.6% compared to the same quarter last year. Equities analysts forecast that Coinbase Global, Inc. will post 2.71 EPS for the current fiscal 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.