Signature Estate & Investment Advisors LLC Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Signature Estate & Investment Advisors LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,216 shares of the cryptocurrency exchange’s stock after purchasing an additional 80 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Coinbase Global were worth $1,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV grew its stake in shares of Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after buying an additional 51 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Coinbase Global by 0.4% during the second quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock valued at $2,777,000 after buying an additional 55 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Coinbase Global by 75.0% in the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 57 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Coinbase Global by 12.1% in the second quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock worth $118,000 after purchasing an additional 57 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of Coinbase Global by 3.1% in the second quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after purchasing an additional 61 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Monness Crespi & Hardt assumed coverage on Coinbase Global in a research note on Monday, October 28th. They issued a “buy” rating and a $245.00 target price on the stock. Needham & Company LLC raised their target price on Coinbase Global from $260.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and raised their target price for the stock from $260.00 to $345.00 in a research note on Tuesday, July 23rd. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $246.28.

Coinbase Global Price Performance

COIN stock opened at $305.85 on Friday. The firm has a 50 day moving average price of $198.72 and a 200-day moving average price of $211.83. Coinbase Global, Inc. has a 52-week low of $94.45 and a 52-week high of $334.86. The firm has a market capitalization of $76.57 billion, a price-to-earnings ratio of 52.19 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

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

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 directly owns 526 shares in the company, valued at $91,487.18. The trade was a 97.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the transaction, the insider now owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. The trade was a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,822 shares of company stock worth $30,921,194 in the last three months. 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.