Brookstone Capital Management Has $571,000 Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Brookstone Capital Management decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,153 shares of the cryptocurrency exchange’s stock after selling 191 shares during the quarter. Brookstone Capital Management’s holdings in Coinbase Global were worth $571,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Coinbase Global by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 14,281,280 shares of the cryptocurrency exchange’s stock valued at $2,483,800,000 after purchasing an additional 408,046 shares during the last quarter. Morgan Stanley increased its position in Coinbase Global by 18.5% during the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after buying an additional 511,397 shares during the period. Norges Bank bought a new position in Coinbase Global during the 4th quarter worth $202,936,000. a16z Perennial Management L.P. bought a new position in Coinbase Global during the 4th quarter worth $147,646,000. Finally, Charles Schwab Investment Management Inc. increased its position in Coinbase Global by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock worth $114,211,000 after buying an additional 37,847 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays increased their price objective on Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a research report on Monday, May 6th. Mizuho raised their price target on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research report on Friday, April 12th. The Goldman Sachs Group decreased their price target on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Sanford C. Bernstein lifted their target price on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $215.50.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $243.30, for a total value of $3,985,254.00. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $1,134,264.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $243.30, for a total value of $3,985,254.00. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $1,134,264.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $134,813.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 360,021 shares of company stock valued at $80,655,822. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

Coinbase Global stock opened at $222.23 on Monday. The stock’s 50 day moving average is $227.70 and its 200 day moving average is $202.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $54.57 billion, a P/E ratio of 44.36 and a beta of 3.44. Coinbase Global, Inc. has a one year low of $68.15 and a one year high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. As a group, research analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current year.

About Coinbase Global

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.