Lindbrook Capital LLC Has $6.17 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Lindbrook Capital LLC reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,860 shares of the cryptocurrency exchange’s stock after selling 5,152 shares during the period. Coinbase Global makes up 0.6% of Lindbrook Capital LLC’s investment portfolio, making the stock its 29th largest holding. Lindbrook Capital LLC’s holdings in Coinbase Global were worth $6,173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new position in Coinbase Global during the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 worth $34,000 after purchasing an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the third quarter worth about $25,000. Cullen Frost Bankers Inc. purchased a new position in Coinbase Global during the fourth quarter worth about $50,000. Finally, Bogart Wealth LLC raised its position in Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock worth $52,000 after acquiring an additional 149 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $222.45 on Thursday. The company has a 50 day moving average of $264.38 and a 200 day moving average of $241.24. The stock has a market cap of $56.48 billion, a P/E ratio of 23.42 and a beta of 3.61. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,455 shares of company stock valued at $60,955,968. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on COIN. JMP Securities lifted their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research report on Tuesday, February 18th. Piper Sandler lifted their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group lifted their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $311.56.

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.