B. Riley Wealth Advisors Inc. Sells 2,236 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

B. Riley Wealth Advisors Inc. decreased its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 36.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,849 shares of the cryptocurrency exchange's stock after selling 2,236 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Coinbase Global were worth $669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of COIN. Envestnet Portfolio Solutions Inc. bought a new position in Coinbase Global during the 2nd quarter worth approximately $333,000. Assenagon Asset Management S.A. lifted its holdings in Coinbase Global by 39.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,629 shares of the cryptocurrency exchange's stock valued at $584,000 after buying an additional 739 shares during the period. Fifth Third Bancorp boosted its position in Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange's stock valued at $2,777,000 after acquiring an additional 55 shares during the last quarter. Premier Path Wealth Partners LLC bought a new stake in Coinbase Global during the second quarter valued at $278,000. Finally, Spirit of America Management Corp NY acquired a new stake in Coinbase Global during the 2nd quarter worth about $33,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays boosted their price objective on Coinbase Global from $204.00 to $355.00 and gave the company an "equal weight" rating in a research note on Monday, December 9th. Bank of America boosted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Monness Crespi & Hardt increased their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a report on Thursday. B. Riley began coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a "neutral" rating and a $185.00 price objective for the company. Finally, Oppenheimer increased their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the stock an "outperform" rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and a consensus target price of $284.28.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total value of $1,701,000.00. Following the completion of the sale, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,720 shares of company stock valued at $79,787,248 in the last ninety days. Company insiders own 23.43% of the company's stock.

Coinbase Global Stock Down 2.1 %

NASDAQ COIN traded down $5.94 on Thursday, reaching $273.92. The company had a trading volume of 11,667,889 shares, compared to its average volume of 11,252,229. The company's fifty day moving average is $267.14 and its 200 day moving average is $226.79. The stock has a market capitalization of $68.58 billion, a P/E ratio of 46.74 and a beta of 3.57. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm posted ($0.01) earnings per share. The business's revenue was up 78.8% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share for the current fiscal 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.