Sound Income Strategies LLC Sells 60 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Sound Income Strategies LLC reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 341 shares of the cryptocurrency exchange’s stock after selling 60 shares during the quarter. Sound Income Strategies LLC’s holdings in Coinbase Global were worth $85,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Banco Santander S.A. lifted its holdings in Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after buying an additional 16,737 shares during the period. Global Retirement Partners LLC raised its position 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 worth $477,000 after acquiring an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Coinbase Global in the 3rd quarter worth approximately $29,756,000. Lindbrook Capital LLC lifted its stake in shares of Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Coinbase Global in the second quarter worth $2,908,000. 68.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 7,104 shares of Coinbase Global stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the sale, the insider now owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 367,489 shares of company stock valued at $109,624,297 over the last ninety days. 23.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COIN has been the subject of several recent research reports. Oppenheimer lowered their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Mizuho boosted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. Barclays raised their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $282.83.

Coinbase Global Trading Up 0.7 %

Shares of NASDAQ:COIN opened at $298.00 on Friday. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a market cap of $74.60 billion, a PE ratio of 50.85 and a beta of 3.59. The stock has a 50 day moving average of $290.54 and a 200 day moving average of $233.82. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (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 firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, equities research analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current year.

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.