Chicago Partners Investment Group LLC Sells 123 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Chicago Partners Investment Group LLC trimmed its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 10.6% in the first quarter, HoldingsChannel.com reports. The firm owned 1,033 shares of the cryptocurrency exchange’s stock after selling 123 shares during the period. Chicago Partners Investment Group LLC’s holdings in Coinbase Global were worth $178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global during the 4th quarter worth about $25,000. Copia Wealth Management bought a new position in Coinbase Global in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $35,000. Brooklands Fund Management Ltd bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $37,245,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $37,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 336,265 shares of the company’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 1,160,704 shares of company stock worth $430,750,982 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $322.62 on Wednesday. The company has a market cap of $82.89 billion, a price-to-earnings ratio of 31.20 and a beta of 3.70. The company has a 50-day moving average price of $335.61 and a 200-day moving average price of $260.41. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.14 earnings per share. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on COIN. Compass Point restated a “sell” rating and set a $248.00 price target (down previously from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. Keefe, Bruyette & Woods reduced their price target on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research report on Monday, August 4th. Sanford C. Bernstein lifted their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. JMP Securities lifted their price objective on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a report on Monday, July 14th. Finally, Needham & Company LLC lifted their price objective on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $352.18.

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.