Savvy Advisors Inc. Trims Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Savvy Advisors Inc. lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 57.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,207 shares of the cryptocurrency exchange’s stock after selling 2,946 shares during the quarter. Savvy Advisors Inc.’s holdings in Coinbase Global were worth $548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SOA Wealth Advisors LLC. boosted its stake in shares of Coinbase Global by 17.7% during the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 40 shares during the period. Farther Finance Advisors LLC raised its holdings in Coinbase Global by 4.3% during the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after buying an additional 40 shares during the last quarter. Yousif Capital Management LLC boosted its position in Coinbase Global by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after buying an additional 44 shares during the period. Capital Advisors Wealth Management LLC grew its holdings in Coinbase Global by 3.2% in the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 45 shares during the last quarter. Finally, IPG Investment Advisors LLC increased its position in shares of Coinbase Global by 2.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock valued at $561,000 after acquiring an additional 45 shares during the period. Hedge funds and other 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 Coinbase Global stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 15,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $88,646.78. This represents a 96.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,767 shares of company stock valued at $48,326,134. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating for the company in a report on Monday, April 7th. Keefe, Bruyette & Woods lifted their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald started coverage on Coinbase Global in a report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 target price for the company. Mizuho dropped their price target on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, The Goldman Sachs Group began coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $298.74.

Coinbase Global Stock Up 3.5 %

COIN stock opened at $175.50 on Monday. 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 business has a 50 day moving average of $210.02 and a 200 day moving average of $242.39. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The firm has a market cap of $44.56 billion, a PE ratio of 18.47 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) 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%. On average, research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.