Brighton Jones LLC Sells 1,261 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Brighton Jones LLC decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,674 shares of the cryptocurrency exchange’s stock after selling 1,261 shares during the period. Brighton Jones LLC’s holdings in Coinbase Global were worth $1,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Clear Street Derivatives LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter valued at about $409,919,000. Geode Capital Management LLC increased its position in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Azora Capital LP raised its stake in Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares in the last quarter. Holocene Advisors LP bought a new stake in Coinbase Global during the third quarter valued at approximately $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global in the 3rd quarter worth approximately $29,756,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 0.7 %

NASDAQ COIN opened at $298.00 on Friday. The business’s 50-day moving average is $290.54 and its 200 day moving average is $233.72. The stock has a market capitalization of $74.60 billion, a PE ratio of 50.85 and a beta of 3.59. 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 $114.51 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm posted ($0.01) earnings per share. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. Sell-side analysts forecast that Coinbase Global, Inc. will post 4.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. B. Riley started coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Keefe, Bruyette & Woods decreased their price objective on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Piper Sandler upped their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Needham & Company LLC lifted their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $282.83.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of Coinbase Global stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the sale, the director now directly owns 10,417 shares in the company, valued at $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 367,489 shares of company stock valued at $109,624,297. 23.43% of the stock is currently owned by company 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.