Arete Wealth Advisors LLC Sells 3,734 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Arete Wealth Advisors LLC trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 66.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,901 shares of the cryptocurrency exchange's stock after selling 3,734 shares during the period. Arete Wealth Advisors LLC's holdings in Coinbase Global were worth $339,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global in the 3rd quarter valued at approximately $25,000. Crewe Advisors LLC raised its holdings in shares of Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange's stock worth $27,000 after acquiring an additional 104 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Coinbase Global during the third quarter valued at $32,000. Spirit of America Management Corp NY purchased a new position in Coinbase Global in the second quarter valued at about $33,000. Finally, Continuum Advisory LLC increased its position in Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange's stock worth $34,000 after purchasing an additional 150 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

COIN stock traded down $2.38 during midday trading on Friday, hitting $310.58. The stock had a trading volume of 5,832,592 shares, compared to its average volume of 11,259,770. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a 50-day simple moving average of $256.88 and a 200 day simple moving average of $225.14. The firm has a market capitalization of $77.75 billion, a price-to-earnings ratio of 53.00 and a beta of 3.57.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company's quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.01) EPS. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 58,269 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $172,528. This represents a 99.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the sale, the insider now owns 74,956 shares of the company's stock, valued at $12,750,015.60. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 270,720 shares of company stock valued at $79,787,248. 23.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on COIN shares. JMP Securities reissued a "market outperform" rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Piper Sandler restated a "neutral" rating and set a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Needham & Company LLC lifted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the company a "buy" rating in a research note on Monday, December 9th. B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 target price on the stock. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $276.22.

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.