Spire Wealth Management Has $785,000 Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Spire Wealth Management reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,511 shares of the cryptocurrency exchange’s stock after selling 460 shares during the period. Spire Wealth Management’s holdings in Coinbase Global were worth $785,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Barrett & Company Inc. bought a new stake in Coinbase Global in the fourth quarter worth approximately $26,000. AlphaMark Advisors LLC bought a new stake in shares of Coinbase Global in the 4th quarter valued at $33,000. Signature Resources Capital Management LLC acquired a new position in shares of Coinbase Global during the 4th quarter valued at $39,000. Harbor Investment Advisory LLC boosted its stake in Coinbase Global by 68.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after acquiring an additional 100 shares in the last quarter. Finally, Coston McIsaac & Partners acquired a new stake in Coinbase Global in the fourth quarter worth $52,000. 68.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the completion of the transaction, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Gokul Rajaram sold 1,145 shares of Coinbase Global stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $260.00, for a total value of $297,700.00. Following the completion of the transaction, the director now owns 4,833 shares in the company, valued at $1,256,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $147.03, for a total value of $3,392,717.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 361,542 shares of company stock valued at $81,392,237. Company insiders own 33.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on COIN shares. Sanford C. Bernstein upped their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Mizuho increased their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. Needham & Company LLC decreased their price objective on Coinbase Global from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Canaccord Genuity Group upped their target price on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $200.63.

Coinbase Global Stock Performance

Shares of COIN opened at $211.20 on Thursday. The stock has a 50 day moving average of $237.54 and a 200 day moving average of $169.42. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a market capitalization of $51.17 billion, a price-to-earnings ratio of 42.16 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The business’s revenue was up 51.6% compared to the same quarter last year. During the same period last year, the firm posted ($2.46) EPS. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 2.71 earnings per share for the current year.

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.