Avior Wealth Management LLC Sells 117 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Avior Wealth Management LLC decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 11.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 895 shares of the cryptocurrency exchange’s stock after selling 117 shares during the quarter. Avior Wealth Management LLC’s holdings in Coinbase Global were worth $159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COIN. Renaissance Technologies LLC increased its stake in shares of Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Coinbase Global by 1,136.7% during the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares during the last quarter. APEIRON CAPITAL Ltd purchased a new stake in shares of Coinbase Global in the 1st quarter worth approximately $108,434,000. CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global during the 3rd quarter valued at approximately $29,756,000. Finally, International Assets Investment Management LLC purchased a new position in Coinbase Global during the third quarter valued at $26,665,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $304.64 on Friday. The company has a 50-day moving average price of $214.20 and a 200-day moving average price of $215.16. Coinbase Global, Inc. has a 52 week low of $107.98 and a 52 week high of $341.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $76.27 billion, a P/E ratio of 51.99 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s quarterly revenue was up 78.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Equities research analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current year.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 16,962 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now directly owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This represents a 18.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 194,091 shares of company stock worth $50,033,426 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent research reports. Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Needham & Company LLC lifted their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Compass Point cut their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Monness Crespi & Hardt initiated coverage on shares of Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $251.00.

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.