Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Reduced by HighMark Wealth Management LLC

HighMark Wealth Management LLC reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 38.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253 shares of the cryptocurrency exchange’s stock after selling 157 shares during the period. HighMark Wealth Management LLC’s holdings in Coinbase Global were worth $63,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Atria Wealth Solutions Inc. boosted its holdings in Coinbase Global by 65.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 13,339 shares of the cryptocurrency exchange’s stock valued at $3,312,000 after purchasing an additional 5,266 shares during the period. Fortis Group Advisors LLC acquired a new stake in shares of Coinbase Global in the 4th quarter valued at $2,079,000. D.A. Davidson & CO. grew its stake in Coinbase Global by 39.4% during the fourth quarter. D.A. Davidson & CO. now owns 8,218 shares of the cryptocurrency exchange’s stock worth $2,041,000 after buying an additional 2,324 shares during the last quarter. Truist Financial Corp raised its position in Coinbase Global by 18.8% in the 4th quarter. Truist Financial Corp now owns 6,577 shares of the cryptocurrency exchange’s stock valued at $1,633,000 after purchasing an additional 1,040 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Coinbase Global by 14.6% during the 4th quarter. CIBC Asset Management Inc now owns 7,980 shares of the cryptocurrency exchange’s stock worth $1,981,000 after buying an additional 1,018 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $274.31 on Tuesday. The company’s 50-day moving average is $280.25 and its 200 day moving average is $238.79. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $68.67 billion, a price-to-earnings ratio of 46.81 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Sell-side analysts expect that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Keefe, Bruyette & Woods cut their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Piper Sandler upped their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday. Canaccord Genuity Group increased their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday. Finally, The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $301.17.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total transaction of $447,465.00. Following the sale, the chief operating officer now owns 177,576 shares of the company’s stock, valued at $52,972,696.56. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 7,104 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares in the company, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 328,529 shares of company stock valued at $95,595,712 over the last three months. Corporate insiders own 23.43% of the company’s stock.

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.