GenTrust LLC Invests $998,000 in Coinbase Global, Inc. (NASDAQ:COIN)

GenTrust LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,599 shares of the cryptocurrency exchange’s stock, valued at approximately $998,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares during the period. American Century Companies Inc. lifted its position in Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after acquiring an additional 435,886 shares during the last quarter. APEIRON CAPITAL Ltd acquired a new position in Coinbase Global during the 1st quarter worth $108,434,000. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global during the third quarter valued at about $29,756,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at about $26,665,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on COIN. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Compass Point cut their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Piper Sandler reissued a “neutral” rating and set a $245.00 target price on shares of Coinbase Global in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $251.00.

Coinbase Global Trading Up 3.2 %

COIN stock opened at $304.64 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $76.27 billion, a price-to-earnings ratio of 51.99 and a beta of 3.34. The business has a fifty day moving average price of $214.20 and a 200 day moving average price of $215.15. Coinbase Global, Inc. has a fifty-two week low of $107.98 and a fifty-two week high of $341.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. Analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 16,962 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 194,091 shares of company stock worth $50,033,426 over the last 90 days. Insiders own 23.43% 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.