Stablepoint Partners LLC Has $2.36 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Stablepoint Partners LLC cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,490 shares of the cryptocurrency exchange’s stock after selling 590 shares during the quarter. Stablepoint Partners LLC’s holdings in Coinbase Global were worth $2,356,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC boosted its holdings in Coinbase Global by 2.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,029 shares of the cryptocurrency exchange’s stock worth $504,000 after purchasing an additional 56 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Coinbase Global by 224.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 661 shares of the cryptocurrency exchange’s stock valued at $164,000 after acquiring an additional 457 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Coinbase Global in the 4th quarter valued at approximately $213,000. Exchange Traded Concepts LLC boosted its position in Coinbase Global by 9.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 90,265 shares of the cryptocurrency exchange’s stock worth $22,413,000 after purchasing an additional 7,597 shares during the period. Finally, Impact Partnership Wealth LLC grew its holdings in Coinbase Global by 11.5% during the fourth quarter. Impact Partnership Wealth LLC now owns 1,942 shares of the cryptocurrency exchange’s stock valued at $482,000 after purchasing an additional 200 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COIN has been the subject of several research analyst reports. Piper Sandler boosted their price objective on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. 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. HC Wainwright reissued a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. B. Riley began coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Finally, Monness Crespi & Hardt lifted their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $282.83.

Coinbase Global Trading Up 0.7 %

COIN stock opened at $298.00 on Friday. The business has a fifty day moving average price of $290.54 and a 200 day moving average price of $233.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The stock has a market capitalization of $74.60 billion, a price-to-earnings ratio of 50.85 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. Analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the transaction, the chief operating officer now owns 175,101 shares in the company, valued at approximately $35,598,033.30. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 367,489 shares of company stock valued at $109,624,297. Insiders own 23.43% of the company’s stock.

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.