Fulton Bank N.A. Reduces Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Fulton Bank N.A. trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,175 shares of the cryptocurrency exchange’s stock after selling 337 shares during the quarter. Fulton Bank N.A.’s holdings in Coinbase Global were worth $891,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new position in Coinbase Global during the fourth quarter worth $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $27,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $35,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the sale, the director now owns 10,417 shares in the company, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $88,646.78. This represents a 96.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,717 shares of company stock worth $42,980,101. Corporate insiders own 17.65% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a research note on Friday, May 9th. Oppenheimer set a $293.00 target price on shares of Coinbase Global in a research note on Thursday, May 15th. Barclays boosted their target price on shares of Coinbase Global from $169.00 to $202.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Mizuho cut their price objective 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. Finally, Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They set an “overweight” rating and a $245.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $266.10.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $258.91 on Wednesday. The business’s 50 day moving average price is $208.09 and its 200 day moving average price is $244.77. The firm has a market cap of $65.73 billion, a P/E ratio of 27.25 and a beta of 3.62. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the company earned $2.53 EPS. Coinbase Global’s quarterly revenue was up 24.2% on a year-over-year basis. On average, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global Company 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.