J.W. Cole Advisors Inc. Sells 302 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

J.W. Cole Advisors Inc. lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 8.4% during the 4th quarter, HoldingsChannel reports. The firm owned 3,291 shares of the cryptocurrency exchange’s stock after selling 302 shares during the period. J.W. Cole Advisors Inc.’s holdings in Coinbase Global were worth $817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in COIN. Allworth Financial LP boosted its stake in shares of Coinbase Global by 4.1% in the 4th quarter. Allworth Financial LP now owns 2,265 shares of the cryptocurrency exchange’s stock worth $562,000 after buying an additional 90 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in Coinbase Global in the fourth quarter worth about $5,696,000. Principal Securities Inc. grew its stake in shares of Coinbase Global by 35.3% during the 4th quarter. Principal Securities Inc. now owns 1,032 shares of the cryptocurrency exchange’s stock valued at $256,000 after purchasing an additional 269 shares during the period. Everhart Financial Group Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter valued at about $234,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in shares of Coinbase Global in the 4th quarter worth approximately $236,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $264.63 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The stock has a 50 day moving average of $279.49 and a 200 day moving average of $239.21. The firm has a market cap of $66.25 billion, a PE ratio of 45.16 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. On average, research analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the sale, the director now owns 10,417 shares in the company, valued at approximately $3,074,056.70. This trade represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 336,143 shares of company stock valued at $97,842,603 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Oppenheimer cut their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Bank of America upped their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Finally, Canaccord Genuity Group lifted their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $303.94.

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.