Atomi Financial Group Inc. Sells 1,316 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Atomi Financial Group Inc. reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 323,838 shares of the cryptocurrency exchange’s stock after selling 1,316 shares during the quarter. Coinbase Global accounts for 4.1% of Atomi Financial Group Inc.’s portfolio, making the stock its 2nd biggest position. Atomi Financial Group Inc.’s holdings in Coinbase Global were worth $80,409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Coinbase Global by 14.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 44,847 shares of the cryptocurrency exchange’s stock worth $9,966,000 after purchasing an additional 5,767 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Coinbase Global by 26.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,118 shares of the cryptocurrency exchange’s stock valued at $2,697,000 after buying an additional 2,565 shares during the last quarter. Amalgamated Bank lifted its stake in Coinbase Global by 32.0% in the second quarter. Amalgamated Bank now owns 12,935 shares of the cryptocurrency exchange’s stock valued at $2,875,000 after buying an additional 3,133 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in shares of Coinbase Global by 39.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 26,022 shares of the cryptocurrency exchange’s stock valued at $5,783,000 after acquiring an additional 7,423 shares during the period. Finally, AE Wealth Management LLC grew its position in shares of Coinbase Global by 17.9% during the second quarter. AE Wealth Management LLC now owns 941 shares of the cryptocurrency exchange’s stock worth $209,000 after acquiring an additional 143 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COIN shares. Keefe, Bruyette & Woods reduced their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. B. Riley began coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Needham & Company LLC boosted their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Monness Crespi & Hardt boosted their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $282.83.

Coinbase Global Stock Performance

Shares of COIN stock opened at $295.48 on Tuesday. The company has a market capitalization of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock’s fifty day simple moving average is $290.63 and its 200-day simple moving average is $231.81.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. On average, sell-side analysts predict that Coinbase Global, Inc. will post 4.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,936,968.98. The trade was a 68.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alesia J. Haas sold 20,000 shares of Coinbase Global stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief financial officer now owns 124,470 shares of the company’s stock, valued at $37,341,000. This trade represents a 13.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 347,033 shares of company stock worth $102,613,277 in the last quarter. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global 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.