Twin Peaks Wealth Advisors LLC Sells 298 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Twin Peaks Wealth Advisors LLC lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,178 shares of the cryptocurrency exchange’s stock after selling 298 shares during the quarter. Twin Peaks Wealth Advisors LLC’s holdings in Coinbase Global were worth $541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banco Santander S.A. boosted its position in Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after acquiring an additional 16,737 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global during the 3rd quarter valued at $29,756,000. Lindbrook Capital LLC boosted its position in Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares in the last quarter. Wellington Management Group LLP boosted its position in 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 acquiring an additional 16,363 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in Coinbase Global by 237.5% during the 3rd quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after acquiring an additional 23,040 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,091 shares of company stock valued at $64,162,116. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $227.07 on Tuesday. The firm has a market capitalization of $57.65 billion, a price-to-earnings ratio of 23.90 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The business has a fifty day moving average of $273.99 and a 200 day moving average of $240.78. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COIN shares. Canaccord Genuity Group increased their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a report on Thursday, February 13th. Bank of America increased their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a report on Tuesday, February 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $306.17.

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.