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

Signature Estate & Investment Advisors LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,216 shares of the cryptocurrency exchange’s stock after buying an additional 80 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Coinbase Global were worth $1,108,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of COIN. Vanguard Group Inc. grew its position in shares of Coinbase Global by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after acquiring an additional 2,624,989 shares during the period. Renaissance Technologies LLC grew its position in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after acquiring an additional 691,288 shares during the period. Canada Pension Plan Investment Board grew its position in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after acquiring an additional 486,512 shares during the period. American Century Companies Inc. boosted its holdings in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after buying an additional 435,886 shares during the period. Finally, APEIRON CAPITAL Ltd bought a new position in Coinbase Global in the 1st quarter worth $108,434,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 9.7 %

Shares of NASDAQ COIN opened at $305.85 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12-month low of $94.45 and a 12-month high of $334.86. The stock has a market capitalization of $76.57 billion, a price-to-earnings ratio of 52.19 and a beta of 3.34. The firm’s 50-day moving average price is $198.72 and its 200-day moving average price is $211.83.

Coinbase Global (NASDAQ:COIN) last posted 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 period last year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Compass Point dropped their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a report on Thursday, October 31st. Monness Crespi & Hardt assumed coverage on shares of Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 target price for the company. Finally, Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. One investment 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. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average price target of $246.28.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at $15,000,000. This represents a 44.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 16,962 shares of the company’s stock in a transaction dated 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 in the company, valued at $15,637,069.76. This represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 135,822 shares of company stock valued at $30,921,194 in the last ninety days. 23.43% of the stock is owned by company insiders.

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.