EverSource Wealth Advisors LLC Reduces Stake in Coinbase Global, Inc. (NASDAQ:COIN)

EverSource Wealth Advisors LLC cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 21.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,116 shares of the cryptocurrency exchange’s stock after selling 303 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Coinbase Global were worth $277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banco Santander S.A. raised its holdings 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 during the last quarter. Wellington Management Group LLP raised its stake in shares of Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after buying an additional 16,363 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $252,000. Virtu Financial LLC purchased a new stake in shares of Coinbase Global in the third quarter worth about $3,866,000. Finally, Blueshift Asset Management LLC raised its position in Coinbase Global by 916.8% during the third quarter. Blueshift Asset Management LLC now owns 18,852 shares of the cryptocurrency exchange’s stock valued at $3,359,000 after acquiring an additional 16,998 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $183.12 on Friday. The stock has a market capitalization of $46.49 billion, a price-to-earnings ratio of 19.28 and a beta of 3.66. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75. The firm has a 50-day simple moving average of $255.08 and a 200-day simple moving average of $240.79. 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 (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent research reports. Rosenblatt Securities started coverage on Coinbase Global in a research report on Friday, March 7th. They issued a “buy” rating and a $305.00 price objective on the stock. Canaccord Genuity Group lifted their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Barclays upped their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. The Goldman Sachs Group dropped 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.67.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $2,846,236.91. The trade was a 52.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the sale, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,455 shares of company stock valued at $60,955,968. Insiders own 23.43% of the company’s stock.

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.