Coinbase Global, Inc. $COIN Shares Sold by Stratos Wealth Partners LTD.

by · The Markets Daily

Stratos Wealth Partners LTD. lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 50.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,357 shares of the cryptocurrency exchange’s stock after selling 9,374 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Coinbase Global were worth $2,116,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 8.3% in the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock worth $8,847,905,000 after purchasing an additional 2,007,930 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Coinbase Global in the third quarter worth about $14,491,000. FengHe Fund Management Pte. Ltd. raised its stake in shares of Coinbase Global by 119.1% in the third quarter. FengHe Fund Management Pte. Ltd. now owns 69,900 shares of the cryptocurrency exchange’s stock worth $23,591,000 after purchasing an additional 38,000 shares during the last quarter. Liontrust Investment Partners LLP raised its stake in shares of Coinbase Global by 73.1% in the second quarter. Liontrust Investment Partners LLP now owns 83,058 shares of the cryptocurrency exchange’s stock worth $29,111,000 after purchasing an additional 35,068 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new position in shares of Coinbase Global in the third quarter worth about $224,663,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 0.2%

Coinbase Global stock opened at $175.18 on Wednesday. The firm has a market cap of $46.26 billion, a price-to-earnings ratio of 39.90, a price-to-earnings-growth ratio of 3.31 and a beta of 3.60. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64. The business’s 50-day moving average price is $180.24 and its 200 day moving average price is $248.92. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COINGet Free Report) last posted its earnings results on Thursday, February 12th. The cryptocurrency exchange reported $0.66 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.17). The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.86 billion. Coinbase Global had a return on equity of 8.68% and a net margin of 17.55%.The firm’s revenue was down 21.6% on a year-over-year basis. During the same period last year, the business earned $4.68 earnings per share. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 1,375 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $250.27, for a total transaction of $344,121.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 9,950 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $201.60, for a total value of $2,005,920.00. Following the sale, the chief financial officer directly owned 387,221 shares in the company, valued at approximately $78,063,753.60. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 396,745 shares of company stock worth $63,576,559. 16.56% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Rothschild & Co Redburn reduced their price objective on Coinbase Global from $281.00 to $254.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. BTIG Research reduced their price objective on Coinbase Global from $340.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, February 13th. The Goldman Sachs Group reduced their price objective on Coinbase Global from $270.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. President Capital reduced their price objective on Coinbase Global from $472.00 to $236.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, China Renaissance reduced their price objective on Coinbase Global from $301.50 to $223.20 and set a “buy” rating for the company in a research note on Monday, February 23rd. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $262.54.

Read Our Latest Research Report on Coinbase Global

Coinbase Global Profile

(Free Report)

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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