Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Morling Financial Advisors LLC

Morling Financial Advisors LLC lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,161 shares of the cryptocurrency exchange’s stock after selling 5,450 shares during the quarter. Coinbase Global comprises approximately 11.4% of Morling Financial Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Morling Financial Advisors LLC’s holdings in Coinbase Global were worth $14,116,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Fountainhead AM LLC lifted its stake in Coinbase Global by 2.1% during the 4th quarter. Fountainhead AM LLC now owns 3,957 shares of the cryptocurrency exchange’s stock valued at $688,000 after acquiring an additional 81 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Coinbase Global by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,726 shares of the cryptocurrency exchange’s stock valued at $2,561,000 after acquiring an additional 81 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in Coinbase Global by 2.6% during the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after acquiring an additional 86 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Coinbase Global by 2.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock valued at $669,000 after acquiring an additional 90 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Coinbase Global by 34.5% during the 4th quarter. Larson Financial Group LLC now owns 351 shares of the cryptocurrency exchange’s stock valued at $61,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $131.57, for a total transaction of $12,872,282.52. Following the completion of the transaction, the director now owns 6,072 shares of the company’s stock, valued at $798,893.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,257 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The disclosure for this sale can be found here. Insiders sold 607,358 shares of company stock valued at $106,945,156 in the last quarter. 33.16% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Performance

COIN traded down $12.06 during trading hours on Wednesday, hitting $224.37. The stock had a trading volume of 6,718,393 shares, compared to its average volume of 13,675,555. The company’s fifty day simple moving average is $229.46 and its 200 day simple moving average is $159.37. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The stock has a market cap of $54.36 billion, a PE ratio of 831.00 and a beta of 3.41. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

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

Analyst Ratings Changes

COIN has been the topic of several recent analyst reports. HC Wainwright raised their price objective on Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 16th. TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Piper Sandler lifted their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 3rd. Finally, Citigroup lifted their target price on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Three 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 company has an average rating of “Hold” and an average target price of $165.43.

About Coinbase Global

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.