Lindbrook Capital LLC Sells 12,348 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Lindbrook Capital LLC lowered its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 49.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,512 shares of the cryptocurrency exchange's stock after selling 12,348 shares during the period. Lindbrook Capital LLC's holdings in Coinbase Global were worth $2,155,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new position in Coinbase Global in the fourth quarter valued at approximately $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global in the fourth quarter worth $26,000. Bessemer Group Inc. boosted 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 valued at $26,000 after buying an additional 113 shares during the last quarter. NBT Bank N A NY bought a new position in shares of Coinbase Global in the first quarter worth about $33,000. Finally, Berbice Capital Management LLC purchased a new position in Coinbase Global during the 1st quarter valued at approximately $34,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Brian Armstrong sold 336,265 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $190,732.86. This represents a 99.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the transaction, the director owned 10,417 shares in the company, valued at approximately $2,632,167.56. The trade was a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,245,915 shares of company stock worth $447,462,456. Insiders own 17.65% of the company's stock.

Coinbase Global Trading Up 2.2%

NASDAQ:COIN opened at $419.78 on Friday. The company has a 50 day simple moving average of $302.29 and a two-hundred day simple moving average of $251.31. The company has a market cap of $106.57 billion, a PE ratio of 78.61, a price-to-earnings-growth ratio of 32.00 and a beta of 3.70. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.65. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter in the previous year, the firm earned $2.53 EPS. The firm's revenue for the quarter was up 24.2% compared to the same quarter last year. Research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a report on Friday, May 9th. JMP Securities boosted their price target on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Rosenblatt Securities upped their price objective on Coinbase Global from $300.00 to $470.00 and gave the stock a "buy" rating in a report on Thursday. Finally, China Renaissance assumed coverage on Coinbase Global in a report on Tuesday, June 17th. They issued a "buy" rating and a $353.30 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $313.10.

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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