Savvy Advisors Inc. Has $548,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Savvy Advisors Inc. reduced its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 57.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,207 shares of the cryptocurrency exchange's stock after selling 2,946 shares during the period. Savvy Advisors Inc.'s holdings in Coinbase Global were worth $548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange's stock worth $4,648,000 after buying an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in Coinbase Global in the 4th quarter worth about $252,000. Virtu Financial LLC acquired a new stake in Coinbase Global during the 3rd quarter worth about $3,866,000. Savant Capital LLC purchased a new position in Coinbase Global during the 4th quarter valued at about $591,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after purchasing an additional 36,843 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COIN. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a research report on Monday, February 10th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $305.00 price target on shares of Coinbase Global in a research note on Wednesday, March 26th. Keefe, Bruyette & Woods increased their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. The Goldman Sachs Group began coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a "neutral" rating and a $195.00 target price on the stock. Finally, Barclays cut their price target on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research note on Monday, April 7th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $298.74.

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Insider Buying and Selling

In other news, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $88,646.78. This represents a 96.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares of the company's stock, valued at approximately $22,973,200. The trade was a 6.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,767 shares of company stock valued at $48,326,134. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded down $1.01 during midday trading on Tuesday, hitting $175.57. The company's stock had a trading volume of 5,331,763 shares, compared to its average volume of 9,741,335. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock's 50 day simple moving average is $208.05 and its 200 day simple moving average is $242.29. The stock has a market capitalization of $44.57 billion, a price-to-earnings ratio of 18.48 and a beta of 3.65. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.