GenTrust LLC Buys Shares of 5,599 Coinbase Global, Inc. (NASDAQ:COIN)

GenTrust LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,599 shares of the cryptocurrency exchange’s stock, valued at approximately $998,000.

Other large investors have also modified their holdings of the company. Banco Santander S.A. grew its position in Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global in the 3rd quarter worth approximately $29,756,000. Lindbrook Capital LLC increased its position in Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Coinbase Global during the 2nd quarter valued at $2,908,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, Director Frederick R. Wilson sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the sale, the director now owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $91,487.18. This represents a 97.77 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,091 shares of company stock valued at $50,033,426. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COIN. HC Wainwright reissued a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Piper Sandler reissued a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. B. Riley began coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Finally, Compass Point dropped their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $251.00.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $304.64 on Friday. Coinbase Global, Inc. has a 12 month low of $107.98 and a 12 month high of $341.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $76.27 billion, a PE ratio of 51.99 and a beta of 3.34. The business has a fifty day simple moving average of $214.20 and a 200-day simple moving average of $215.15.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company’s revenue was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) earnings per share. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal 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.