Atria Wealth Solutions Inc. Reduces Position in Coinbase Global, Inc. $COIN

Key Points

• Atria Wealth Solutions Inc. reduced its position in Coinbase Global, Inc. by 18.6%, holding 12,333 shares valued at $4.34 million following the sale of 2,813 shares in the second quarter.
• CEO Brian Armstrong sold 198,300 shares of Coinbase, resulting in a 99.74% reduction in his ownership, while insiders collectively sold 372,815 shares worth $135 million in the past three months.
• Various institutional investors have increased or purchased stakes in Coinbase, with Bessemer Group increasing its position by 297.4%, emphasizing a diverse investment interest despite the recent positions adjustments.

Atria Wealth Solutions Inc. trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 18.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,333 shares of the cryptocurrency exchange's stock after selling 2,813 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Coinbase Global were worth $4,338,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after acquiring an additional 113 shares during the last quarter. North Star Investment Management Corp. bought a new stake in Coinbase Global in the second quarter valued at about $55,000. McClarren Financial Advisors Inc. bought a new stake in Coinbase Global in the first quarter valued at about $30,000. S Bank Fund Management Ltd bought a new stake in Coinbase Global in the first quarter valued at about $31,000. Finally, Ameriflex Group Inc. increased its holdings in Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange's stock valued at $68,000 after buying an additional 30 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 198,300 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at $209,279.62. This represents a 99.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the transaction, the insider directly owned 478 shares of the company's stock, valued at $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 372,815 shares of company stock valued at $135,227,072 in the last three months. 23.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

COIN has been the subject of several research analyst reports. Williams Trading set a $405.00 price objective on Coinbase Global in a report on Thursday, July 31st. Citigroup boosted their price objective on Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Rothschild Redb raised Coinbase Global from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Jefferies Financial Group boosted their price objective on Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a report on Tuesday, July 29th. Finally, Monness Crespi & Hardt lowered Coinbase Global from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of "Moderate Buy" and an average target price of $367.12.

Coinbase Global Stock Performance

Shares of COIN stock opened at $356.99 on Tuesday. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $325.84 and a two-hundred day moving average of $289.77. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a market cap of $91.73 billion, a P/E ratio of 34.53 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current 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.

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