Coinbase Global, Inc. (NASDAQ:COIN) Position Trimmed by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,196 shares of the cryptocurrency exchange’s stock after selling 86 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Coinbase Global were worth $582,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in shares of Coinbase Global by 55.0% in the third quarter. Envestnet Asset Management Inc. now owns 47,667 shares of the cryptocurrency exchange’s stock worth $3,579,000 after acquiring an additional 16,914 shares in the last quarter. Bank of Nova Scotia acquired a new stake in Coinbase Global during the 3rd quarter valued at $450,000. Legal & General Group Plc lifted its holdings in shares of Coinbase Global by 2.3% in the third quarter. Legal & General Group Plc now owns 518,814 shares of the cryptocurrency exchange’s stock valued at $38,953,000 after purchasing an additional 11,730 shares in the last quarter. Scotia Capital Inc. acquired a new stake in shares of Coinbase Global in the third quarter worth $218,000. Finally, Morgan Stanley grew its holdings in shares of Coinbase Global by 18.5% during the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $248.00, for a total value of $372,000.00. Following the completion of the sale, the chief operating officer now owns 215,351 shares in the company, valued at $53,407,048. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Alesia J. Haas sold 4,200 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $247.54, for a total value of $1,039,668.00. Following the sale, the chief financial officer now owns 192,622 shares of the company’s stock, valued at $47,681,649.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $248.00, for a total transaction of $372,000.00. Following the completion of the transaction, the chief operating officer now directly owns 215,351 shares of the company’s stock, valued at approximately $53,407,048. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,141 shares of company stock worth $78,864,413. Insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COIN. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Friday, May 3rd. HC Wainwright reaffirmed a “buy” rating and set a $315.00 price objective on shares of Coinbase Global in a research report on Tuesday, June 18th. Wedbush increased their target price on shares of Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Barclays boosted their price target on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday, May 6th. Finally, Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $215.50.

Coinbase Global Stock Down 2.5 %

Coinbase Global stock opened at $227.51 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48. The firm has a fifty day moving average price of $227.67 and a two-hundred day moving average price of $203.32. The firm has a market cap of $55.87 billion, a price-to-earnings ratio of 45.41 and a beta of 3.40.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, analysts forecast that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

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.