Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 37.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,450 shares of the cryptocurrency exchange’s stock after selling 3,218 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Coinbase Global were worth $1,445,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in COIN. Barrett & Company Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new position in Coinbase Global during the 4th quarter valued at about $27,000. Concord Wealth Partners boosted its stake in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 87 shares during the period. Geneos Wealth Management Inc. boosted its stake in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Finally, Mather Group LLC. acquired a new position in Coinbase Global during the 1st quarter valued at about $32,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Up 1.8 %

COIN stock opened at $228.50 on Thursday. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48. The company’s 50 day simple moving average is $235.31 and its 200-day simple moving average is $213.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $56.11 billion, a P/E ratio of 44.78 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 4.95 EPS for the current year.

Analyst Ratings Changes

COIN has been the subject of a number of analyst reports. Barclays reduced their target price on shares of Coinbase Global from $204.00 to $196.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Mizuho upped their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. Piper Sandler upped their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $237.50.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 16,456 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $223.34, for a total value of $3,675,283.04. Following the transaction, the insider now owns 16,140 shares in the company, valued at approximately $3,604,707.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Coinbase Global news, insider Lawrence J. Brock sold 16,456 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $223.34, for a total value of $3,675,283.04. Following the completion of the sale, the insider now directly owns 16,140 shares of the company’s stock, valued at $3,604,707.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer N. Jones sold 15,580 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $239.28, for a total transaction of $3,727,982.40. Following the completion of the sale, the chief accounting officer now directly owns 2,212 shares of the company’s stock, valued at $529,287.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,176 shares of company stock worth $60,913,978. 23.43% of the stock is currently owned by company insiders.

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.