Center for Financial Planning Inc. Sells 41 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Center for Financial Planning Inc. reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.3% during the fourth quarter, Holdings Channel reports. The fund owned 291 shares of the cryptocurrency exchange’s stock after selling 41 shares during the period. Center for Financial Planning Inc.’s holdings in Coinbase Global were worth $72,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the third quarter valued at $25,000. Bogart Wealth LLC increased its holdings in shares of Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after acquiring an additional 149 shares in the last quarter. Finally, Spirit of America Management Corp NY increased its holdings in shares of Coinbase Global by 66.7% during the fourth quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock valued at $62,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on COIN shares. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $250.00 to $290.00 in a report on Wednesday, January 29th. Piper Sandler boosted their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday. The Goldman Sachs Group cut their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Barclays boosted their price objective on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods dropped their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.17.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $274.31 on Friday. The stock’s 50-day moving average is $280.97 and its two-hundred day moving average is $238.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The company has a market cap of $68.67 billion, a price-to-earnings ratio of 46.81 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the completion of the transaction, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 386,798 shares of company stock valued at $114,707,944. 23.43% of the stock is currently owned by corporate insiders.

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.