Activest Wealth Management Trims Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Activest Wealth Management trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,111 shares of the cryptocurrency exchange’s stock after selling 680 shares during the quarter. Activest Wealth Management’s holdings in Coinbase Global were worth $554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of COIN. Empowered Funds LLC grew its stake in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after acquiring an additional 43 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in shares of Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after acquiring an additional 51 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Coinbase Global by 0.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after acquiring an additional 55 shares during the period. Versant Capital Management Inc increased its position in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in Coinbase Global by 12.1% during the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after buying an additional 57 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the sale, the chief operating officer now owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The trade was a 0.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 18.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 194,091 shares of company stock valued at $50,033,426. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 2.2 %

NASDAQ COIN traded down $7.07 on Thursday, hitting $312.94. 5,368,007 shares of the stock traded hands, compared to its average volume of 11,079,631. The stock has a 50-day moving average of $208.71 and a 200 day moving average of $214.04. The company has a market capitalization of $78.34 billion, a P/E ratio of 54.61 and a beta of 3.34. 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 twelve month low of $103.36 and a twelve month high of $341.75.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on COIN. Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 target price on the stock. Barclays lifted their price target on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. Bank of America raised their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Piper Sandler reissued a “neutral” rating and issued a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $251.00.

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.