Arkos Global Advisors Lowers Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

by · The Cerbat Gem

Arkos Global Advisors lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN – Free Report) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,261 shares of the cryptocurrency exchange’s stock after selling 169 shares during the period. Arkos Global Advisors’ holdings in Coinbase Global were worth $313,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of COIN. Virtu Financial LLC bought a new position in Coinbase Global in the third quarter worth about $3,866,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Coinbase Global in the third quarter worth $94,000. Principal Financial Group Inc. grew its holdings in shares of Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after buying an additional 36,843 shares during the last quarter. Versant Capital Management Inc grew its stake in Coinbase Global by 106.9% during the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock valued at $74,000 after purchasing an additional 154 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Coinbase Global by 25.9% in the 4th quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange’s stock worth $258,000 after buying an additional 214 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $209.64 on Friday. The business has a fifty day moving average of $191.91 and a two-hundred day moving average of $242.35. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $53.22 billion, a price-to-earnings ratio of 22.07 and a beta of 3.65. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $142,540.74. This represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,228 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at $2,922,072.67. The trade was a 59.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,970 shares of company stock worth $38,672,615. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on COIN shares. Piper Sandler lifted their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Canaccord Genuity Group increased their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Rosenblatt Securities cut their price objective on Coinbase Global from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $295.65.

View Our Latest Research Report on Coinbase Global

About Coinbase Global

(Free Report)

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.

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