First Horizon Advisors Inc. Has $120,000 Stake in Coinbase Global, Inc. $COIN

First Horizon Advisors Inc. cut its position in Coinbase Global, Inc. (NASDAQ:COIN) by 37.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 341 shares of the cryptocurrency exchange’s stock after selling 207 shares during the quarter. First Horizon Advisors Inc.’s holdings in Coinbase Global were worth $120,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McClarren Financial Advisors Inc. acquired a new position in Coinbase Global during the first quarter valued at approximately $30,000. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global in the 2nd quarter valued at $30,000. S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global during the 1st quarter worth $31,000. SouthState Corp lifted its position in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after buying an additional 104 shares during the last quarter. Finally, City State Bank bought a new stake in shares of Coinbase Global during the 2nd quarter worth $33,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $309.14 on Friday. The company has a market capitalization of $79.43 billion, a price-to-earnings ratio of 26.74 and a beta of 3.67. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The stock has a fifty day simple moving average of $333.93 and a 200 day simple moving average of $311.19.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business’s revenue was up 55.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the subject of several research analyst reports. Piper Sandler reissued a “neutral” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Compass Point dropped their price objective on shares of Coinbase Global from $277.00 to $266.00 in a research note on Friday, October 31st. Benchmark restated a “buy” rating on shares of Coinbase Global in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $397.36.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the sale, the insider directly owned 82,328 shares in the company, valued at $28,475,608.64. This represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $177,519.74. The trade was a 97.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 205,657 shares of company stock worth $67,989,576 over the last ninety days. Insiders own 17.65% of the company’s stock.

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.