Ameriprise Financial Inc. Has $50.82 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Ameriprise Financial Inc. reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 38.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 204,884 shares of the cryptocurrency exchange’s stock after selling 129,868 shares during the quarter. Ameriprise Financial Inc. owned about 0.08% of Coinbase Global worth $50,821,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. Atala Financial Inc bought a new stake in Coinbase Global during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in Coinbase Global by 365.5% during 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 period. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the 4th quarter worth about $50,000. Finally, Bogart Wealth LLC lifted its stake in shares of Coinbase Global by 252.5% in the 4th quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after purchasing an additional 149 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Down 3.4 %

Shares of NASDAQ:COIN opened at $199.47 on Friday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The company has a market capitalization of $50.64 billion, a PE ratio of 21.00 and a beta of 3.62. The business has a fifty day moving average price of $187.38 and a two-hundred day moving average price of $243.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the company posted $2.53 EPS. Coinbase Global’s quarterly revenue was up 24.2% compared to the same quarter last year. Analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $144,786.76. This trade represents a 97.94 % 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, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. 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 directly owns 107,291 shares in the company, valued at approximately $21,458,200. This trade represents a 6.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,742 shares of company stock valued at $32,639,759 in the last 90 days. Insiders own 17.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Rosenblatt Securities lowered their target price on Coinbase Global from $290.00 to $260.00 and set a “buy” rating for the company in a report on Friday, May 2nd. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price on the stock. Mizuho reduced their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Cantor Fitzgerald assumed 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. Finally, JMP Securities restated a “market outperform” rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $268.65.

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.