Estate Counselors LLC Buys New Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Estate Counselors LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the third quarter, Holdings Channel reports. The fund purchased 8,330 shares of the cryptocurrency exchange’s stock, valued at approximately $1,484,000.

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

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $304.64 on Friday. The company has a market capitalization of $76.27 billion, a PE 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 $215.16. Coinbase Global, Inc. has a 1-year low of $107.98 and a 1-year high of $341.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released 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). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) earnings per share. As a group, equities analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Grewal sold 16,962 shares of the stock in a transaction 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 sale, the insider now directly owns 75,556 shares of the company’s stock, valued at $15,637,069.76. This trade represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated 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 directly owns 526 shares of the company’s stock, valued at approximately $91,487.18. This trade represents a 97.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 194,091 shares of company stock worth $50,033,426 in the last three months. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. HC Wainwright restated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. B. Riley started 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. Barclays raised their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. Finally, Monness Crespi & Hardt started coverage on shares of Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $251.00.

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.