Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,988 shares of the cryptocurrency exchange’s stock after selling 116 shares during the period. Sanctuary Advisors LLC’s holdings in Coinbase Global were worth $2,480,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Banco Santander S.A. increased its position in shares of Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Coinbase Global during the third quarter worth $29,756,000. Lindbrook Capital LLC increased its position in shares of Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after purchasing an additional 16,363 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Coinbase Global by 237.5% in the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after acquiring an additional 23,040 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Down 8.3 %

COIN stock opened at $235.38 on Friday. The company’s 50-day simple moving average is $275.76 and its 200-day simple moving average is $240.11. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The firm has a market cap of $59.76 billion, a P/E ratio of 24.78 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 334,306 shares of company stock valued at $97,300,651 in the last ninety days. 23.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday. The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. HC Wainwright reissued a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Friday. Finally, Piper Sandler upped their target price on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $306.17.

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.