Morling Financial Advisors LLC Trims Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Morling Financial Advisors LLC lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,161 shares of the cryptocurrency exchange’s stock after selling 5,450 shares during the quarter. Coinbase Global makes up approximately 11.4% of Morling Financial Advisors LLC’s holdings, making the stock its 2nd biggest holding. Morling Financial Advisors LLC’s holdings in Coinbase Global were worth $14,116,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of COIN. Barrett & Company Inc. bought a new position in Coinbase Global during the 4th quarter worth approximately $26,000. AlphaMark Advisors LLC bought a new position in Coinbase Global during the 4th quarter worth approximately $33,000. Harbor Investment Advisory LLC boosted its stake in Coinbase Global by 68.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. Coston McIsaac & Partners bought a new position in Coinbase Global during the 4th quarter worth approximately $52,000. Finally, Steph & Co. boosted its stake in Coinbase Global by 100.0% during the 4th quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock worth $52,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several research analyst reports. Oppenheimer raised their target price on shares of Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Canaccord Genuity Group restated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a report on Thursday, March 28th. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Finally, HC Wainwright raised their target price on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $165.43.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the sale, the insider now owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $274.97, for a total value of $4,504,008.60. Following the completion of the transaction, the director now owns 4,662 shares of the company’s stock, valued at $1,281,910.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the transaction, the insider now directly owns 61,665 shares of the company’s stock, valued at approximately $7,462,698.30. The disclosure for this sale can be found here. Insiders sold a total of 607,358 shares of company stock valued at $106,945,156 over the last ninety days. 33.16% of the stock is currently owned by company insiders.

Coinbase Global Stock Performance

COIN stock traded down $12.06 during midday trading on Wednesday, reaching $224.37. 6,718,393 shares of the company were exchanged, compared to its average volume of 13,675,555. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50-day moving average price of $229.46 and a two-hundred day moving average price of $159.37. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The firm has a market capitalization of $54.36 billion, a price-to-earnings ratio of 831.00 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the previous year, the business posted ($2.46) earnings per share. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 2.43 EPS for the current 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.