Coinbase Global, Inc. (NASDAQ:COIN) Holdings Reduced by Refined Wealth Management

Refined Wealth Management lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,676 shares of the cryptocurrency exchange’s stock after selling 463 shares during the period. Coinbase Global accounts for 9.4% of Refined Wealth Management’s investment portfolio, making the stock its 4th largest position. Refined Wealth Management’s holdings in Coinbase Global were worth $12,335,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter valued at $25,000. ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at $32,000. Brown Brothers Harriman & Co. grew its holdings in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Coinbase Global by 106.9% during the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock worth $74,000 after purchasing an additional 154 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays increased their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Keefe, Bruyette & Woods cut their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. HC Wainwright restated a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $282.83.

Insider Buying and Selling at Coinbase Global

In related news, insider Lawrence J. Brock sold 4,635 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the transaction, the insider now owns 18,525 shares in the company, valued at $4,631,250. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the sale, the chief operating officer now owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 367,489 shares of company stock worth $109,624,297 over the last three months. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $298.00 on Monday. 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 company has a fifty day simple moving average of $290.54 and a 200-day simple moving average of $233.92. The stock has a market cap of $74.60 billion, a P/E ratio of 50.85 and a beta of 3.59. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted ($0.01) earnings per share. The company’s revenue was up 78.8% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

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.