Level Four Advisory Services LLC Sells 69 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Level Four Advisory Services LLC lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,686 shares of the cryptocurrency exchange’s stock after selling 69 shares during the quarter. Level Four Advisory Services LLC’s holdings in Coinbase Global were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Orion Portfolio Solutions LLC raised its holdings in Coinbase Global by 64.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,023 shares of the cryptocurrency exchange’s stock valued at $2,489,000 after acquiring an additional 3,918 shares during the period. X Square Capital LLC raised its stake in shares of Coinbase Global by 84.7% during the 4th quarter. X Square Capital LLC now owns 3,069 shares of the cryptocurrency exchange’s stock valued at $762,000 after purchasing an additional 1,407 shares during the period. Norges Bank purchased a new stake in Coinbase Global during the 4th quarter worth about $536,484,000. Blair William & Co. IL boosted its stake in Coinbase Global by 4.1% in the 4th quarter. Blair William & Co. IL now owns 32,213 shares of the cryptocurrency exchange’s stock worth $7,998,000 after purchasing an additional 1,276 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Coinbase Global by 84.7% during the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 9,172 shares of the cryptocurrency exchange’s stock valued at $2,277,000 after buying an additional 4,206 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 price target for the company. Bank of America dropped their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Mizuho decreased their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $314.72.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $104,226.90. This represents a 95.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,609 shares of company stock worth $61,331,908. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $173.93 on Monday. The company has a 50-day simple moving average of $239.36 and a two-hundred day simple moving average of $242.83. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The firm has a market cap of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.