Arbor Capital Management Inc. ADV Sells 2,639 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Arbor Capital Management Inc. ADV lowered its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 30.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 6,059 shares of the cryptocurrency exchange’s stock after selling 2,639 shares during the quarter. Coinbase Global accounts for about 1.5% of Arbor Capital Management Inc. ADV’s investment portfolio, making the stock its 26th largest holding. Arbor Capital Management Inc. ADV’s holdings in Coinbase Global were worth $1,504,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global during the 3rd quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global in the 4th quarter worth $27,000. Atala Financial Inc bought a new stake in Coinbase Global in the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.2 %

NASDAQ:COIN opened at $183.12 on Monday. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company’s 50-day simple moving average is $255.08 and its 200 day simple moving average is $241.14. The firm has a market capitalization of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at $17,656,524.09. The trade was a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. The trade was a 52.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,455 shares of company stock valued at $60,955,968. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Mizuho cut their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Keefe, Bruyette & Woods raised their price target on shares of 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 cut their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, JMP Securities lifted their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $316.67.

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.