Coinbase Global, Inc. (NASDAQ:COIN) is Atomi Financial Group Inc.’s 2nd Largest Position

Atomi Financial Group Inc. trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,838 shares of the cryptocurrency exchange’s stock after selling 1,316 shares during the period. Coinbase Global comprises about 4.1% of Atomi Financial Group Inc.’s investment portfolio, making the stock its 2nd largest position. Atomi Financial Group Inc. owned about 0.13% of Coinbase Global worth $80,409,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of COIN. Envestnet Asset Management Inc. boosted its holdings in shares of Coinbase Global by 14.8% during the second quarter. Envestnet Asset Management Inc. now owns 44,847 shares of the cryptocurrency exchange’s stock worth $9,966,000 after purchasing an additional 5,767 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Coinbase Global by 26.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,118 shares of the cryptocurrency exchange’s stock worth $2,697,000 after buying an additional 2,565 shares during the last quarter. Amalgamated Bank boosted its stake in Coinbase Global by 32.0% in the 2nd quarter. Amalgamated Bank now owns 12,935 shares of the cryptocurrency exchange’s stock worth $2,875,000 after buying an additional 3,133 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Coinbase Global by 39.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 26,022 shares of the cryptocurrency exchange’s stock valued at $5,783,000 after buying an additional 7,423 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in shares of Coinbase Global by 17.9% during the 2nd quarter. AE Wealth Management LLC now owns 941 shares of the cryptocurrency exchange’s stock worth $209,000 after acquiring an additional 143 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on COIN. Needham & Company LLC boosted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. HC Wainwright reissued a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Finally, B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $282.83.

Coinbase Global Stock Performance

Shares of COIN stock opened at $295.48 on Tuesday. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59. The company’s fifty day moving average price is $290.63 and its two-hundred day moving average price is $231.81.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm posted ($0.01) EPS. The company’s revenue was up 78.8% compared to the same quarter last year. On average, research analysts anticipate that Coinbase Global, Inc. will post 4.69 earnings per share for the current fiscal year.

Insider Activity

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the transaction, the insider now owns 74,956 shares of the company’s stock, valued at $15,739,260.88. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 347,033 shares of company stock worth $102,613,277. 23.43% of the stock is currently owned by insiders.

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.