Refined Wealth Management Has $13.75 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Refined Wealth Management lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,848 shares of the cryptocurrency exchange’s stock after selling 1,726 shares during the period. Coinbase Global makes up approximately 10.1% of Refined Wealth Management’s investment portfolio, making the stock its 4th biggest holding. Refined Wealth Management’s holdings in Coinbase Global were worth $13,746,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Coinbase Global by 9.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,095 shares of the cryptocurrency exchange’s stock worth $1,881,000 after acquiring an additional 591 shares during the period. Pettinga Financial Advisors LLC purchased a new position in shares of Coinbase Global during the first quarter worth approximately $337,000. Fiduciary Alliance LLC purchased a new position in shares of Coinbase Global during the first quarter worth approximately $1,036,000. Founders Financial Securities LLC purchased a new position in shares of Coinbase Global during the first quarter worth approximately $223,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Coinbase Global during the first quarter worth approximately $1,591,000. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 15,580 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the transaction, the chief accounting officer now owns 2,212 shares in the company, valued at $529,287.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Coinbase Global news, CAO Jennifer N. Jones sold 15,580 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the transaction, the chief accounting officer now owns 2,212 shares in the company, valued at $529,287.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 114,216 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the transaction, the director now owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,141 shares of company stock worth $78,864,413. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ:COIN traded down $5.86 during mid-day trading on Tuesday, hitting $227.51. The company’s stock had a trading volume of 4,391,436 shares, compared to its average volume of 11,792,904. Coinbase Global, Inc. has a 1 year low of $69.63 and a 1 year high of $283.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $55.87 billion, a price-to-earnings ratio of 45.71 and a beta of 3.40. The business’s fifty day moving average is $227.85 and its two-hundred day moving average is $202.76.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the topic of several research reports. Barclays lifted their price objective on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday, May 6th. The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a report on Friday, May 3rd. Singular Research reissued a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Finally, Mizuho lifted their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $215.50.

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.