Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 37.0% in the fourth quarter, Holdings Channel reports. The firm owned 1,237 shares of the cryptocurrency exchange’s stock after selling 728 shares during the period. First Horizon Advisors Inc.’s holdings in Coinbase Global were worth $215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. a16z Perennial Management L.P. purchased a new stake in Coinbase Global during the fourth quarter worth approximately $147,646,000. Morgan Stanley lifted its holdings in shares of Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after acquiring an additional 511,397 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Coinbase Global by 142.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock worth $55,047,000 after purchasing an additional 430,546 shares during the period. International Assets Investment Management LLC acquired a new stake in Coinbase Global in the 4th quarter valued at $34,422,000. Finally, Vanguard Group Inc. raised its position in Coinbase Global by 1.3% in the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after purchasing an additional 176,525 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the sale, the director now owns 4,662 shares in the company, valued at $558,181.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the completion of the transaction, the director now owns 4,662 shares of the company’s stock, valued at $558,181.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 420,597 shares of company stock valued at $86,053,862. Company insiders own 33.16% of the company’s stock.

Coinbase Global Trading Down 2.4 %

Shares of NASDAQ COIN opened at $223.25 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $236.37 and its two-hundred day moving average price is $167.06. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48. The stock has a market capitalization of $54.09 billion, a P/E ratio of 44.56 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 10.24% and a net margin of 33.98%. The business had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same period in the previous year, the business earned ($2.46) EPS. The business’s quarterly revenue was up 51.6% on a year-over-year basis. On average, analysts anticipate that Coinbase Global, Inc. will post 2.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the subject of several analyst reports. Sanford C. Bernstein increased their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. increased their price objective on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research report on Friday. Citigroup raised their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Finally, Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $192.60.

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.