Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Brookstone Capital Management

Brookstone Capital Management reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,277 shares of the cryptocurrency exchange’s stock after selling 77 shares during the period. Brookstone Capital Management’s holdings in Coinbase Global were worth $565,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in COIN. Fiduciary Alliance LLC boosted its stake in shares of Coinbase Global by 19.5% in the fourth quarter. Fiduciary Alliance LLC now owns 11,453 shares of the cryptocurrency exchange’s stock valued at $2,844,000 after purchasing an additional 1,872 shares during the period. First Hawaiian Bank acquired a new position in Coinbase Global during the 4th quarter worth approximately $327,000. Fulton Bank N.A. increased its holdings in Coinbase Global by 1.6% in the fourth quarter. Fulton Bank N.A. now owns 5,512 shares of the cryptocurrency exchange’s stock valued at $1,369,000 after buying an additional 87 shares in the last quarter. Silverleafe Capital Partners LLC purchased a new stake in shares of Coinbase Global in the 4th quarter worth about $358,000. Finally, Nordea Investment Management AB raised its holdings in shares of Coinbase Global by 5.9% in the fourth quarter. Nordea Investment Management AB now owns 14,934 shares of the cryptocurrency exchange’s stock worth $3,772,000 after acquiring an additional 836 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN opened at $295.48 on Friday. The stock has a market cap of $73.97 billion, a price-to-earnings ratio of 50.42 and a beta of 3.59. The stock has a fifty day moving average price of $290.71 and a 200 day moving average price of $230.81. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. 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 (NASDAQ:COIN) last issued its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) EPS. Analysts forecast that Coinbase Global, Inc. will post 4.69 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the transaction, the insider now owns 74,956 shares of the company’s stock, valued at $15,739,260.88. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Alesia J. Haas sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief financial officer now owns 124,470 shares in the company, valued at approximately $37,341,000. The trade was a 13.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 347,033 shares of company stock worth $102,613,277. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. 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. Needham & Company LLC increased their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Monness Crespi & Hardt lifted their target price on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $282.83.

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.