First Horizon Advisors Inc. Sells 207 Shares of Coinbase Global, Inc. $COIN

First Horizon Advisors Inc. trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 37.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 341 shares of the cryptocurrency exchange’s stock after selling 207 shares during the period. First Horizon Advisors Inc.’s holdings in Coinbase Global were worth $120,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of COIN. Envestnet Asset Management Inc. grew its holdings in Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after purchasing an additional 9,952 shares during the period. TD Private Client Wealth LLC boosted its position in shares of Coinbase Global by 38.5% during the 1st quarter. TD Private Client Wealth LLC now owns 611 shares of the cryptocurrency exchange’s stock worth $105,000 after purchasing an additional 170 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Coinbase Global by 29.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 1,813 shares of the cryptocurrency exchange’s stock valued at $312,000 after buying an additional 409 shares during the period. DekaBank Deutsche Girozentrale increased its position in Coinbase Global by 11.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,094 shares of the cryptocurrency exchange’s stock valued at $4,548,000 after buying an additional 2,748 shares in the last quarter. Finally, Greenleaf Trust raised its stake in Coinbase Global by 4.7% during the 1st quarter. Greenleaf Trust now owns 1,596 shares of the cryptocurrency exchange’s stock worth $275,000 after buying an additional 71 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 4.7%

Shares of COIN stock opened at $309.14 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market capitalization of $79.43 billion, a price-to-earnings ratio of 26.74 and a beta of 3.67. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The company has a 50-day simple moving average of $333.93 and a two-hundred day simple moving average of $311.19.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The company’s revenue was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 EPS. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on COIN shares. China Renaissance raised their price objective on Coinbase Global from $444.60 to $479.30 in a research note on Monday, November 3rd. Williams Trading set a $405.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a research note on Friday, October 31st. Monness Crespi & Hardt lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Finally, Compass Point reduced their price objective on shares of Coinbase Global from $277.00 to $266.00 in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $397.36.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the transaction, the insider owned 478 shares of the company’s stock, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 205,657 shares of company stock valued at $67,989,576. Insiders own 17.65% of the company’s stock.

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.