Avior Wealth Management LLC Reduces Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Avior Wealth Management LLC trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 11.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 895 shares of the cryptocurrency exchange’s stock after selling 117 shares during the period. Avior Wealth Management LLC’s holdings in Coinbase Global were worth $159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in COIN. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Coinbase Global during the third quarter valued at about $809,000. Prospera Financial Services Inc lifted its stake in Coinbase Global by 3.6% in the 3rd quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange’s stock worth $353,000 after purchasing an additional 68 shares in the last quarter. Caprock Group LLC boosted its holdings in Coinbase Global by 43.0% in the 3rd quarter. Caprock Group LLC now owns 16,513 shares of the cryptocurrency exchange’s stock valued at $2,942,000 after purchasing an additional 4,965 shares during the period. Windle Wealth LLC grew its position in shares of Coinbase Global by 2.4% during the 3rd quarter. Windle Wealth LLC now owns 6,872 shares of the cryptocurrency exchange’s stock valued at $1,224,000 after purchasing an additional 158 shares in the last quarter. Finally, CAP Partners LLC increased its holdings in shares of Coinbase Global by 12.8% in the third quarter. CAP Partners LLC now owns 6,191 shares of the cryptocurrency exchange’s stock worth $1,103,000 after purchasing an additional 704 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $91,487.18. This represents a 97.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 16,962 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 194,091 shares of company stock valued at $50,033,426. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $304.64 on Friday. The stock has a market capitalization of $76.27 billion, a P/E ratio of 51.99 and a beta of 3.34. Coinbase Global, Inc. has a one year low of $107.98 and a one year high of $341.75. 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 business’s 50 day simple moving average is $214.20 and its two-hundred day simple moving average is $215.16.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on COIN shares. Needham & Company LLC lifted their price objective on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Barclays raised their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Compass Point cut their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus target price of $251.00.

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.