Integrated Advisors Network LLC Sells 1,001 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Integrated Advisors Network LLC reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 50.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 967 shares of the cryptocurrency exchange's stock after selling 1,001 shares during the quarter. Integrated Advisors Network LLC's holdings in Coinbase Global were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $35,000. Brooklands Fund Management Ltd acquired a new stake in Coinbase Global in the 4th quarter valued at about $37,245,000. Finally, Ameriflex Group Inc. acquired a new stake in Coinbase Global in the 4th quarter valued at about $37,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 12,931 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $267.29, for a total transaction of $3,456,326.99. Following the transaction, the insider now owns 84,280 shares in the company, valued at $22,527,201.20. The trade was a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 170,717 shares of company stock valued at $36,801,351 over the last quarter. 17.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on COIN shares. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price target on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a research note on Friday, May 9th. Oppenheimer set a $293.00 target price on shares of Coinbase Global in a research note on Thursday, May 15th. Needham & Company LLC decreased their target price on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Bank of America decreased their target price on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $266.10.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $0.10 on Monday, hitting $246.72. 6,133,122 shares of the company were exchanged, compared to its average volume of 10,155,064. The company's 50 day moving average price is $206.68 and its two-hundred day moving average price is $244.67. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $62.64 billion, a price-to-earnings ratio of 25.97 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business's revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.53 EPS. Research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share 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.