Cynosure Group LLC Makes New $4.71 Million Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Cynosure Group LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,413 shares of the cryptocurrency exchange’s stock, valued at approximately $4,706,000. Coinbase Global makes up 0.7% of Cynosure Group LLC’s investment portfolio, making the stock its 26th largest holding.

Other large investors have also modified their holdings of the company. Crewe Advisors LLC raised its holdings in Coinbase Global by 547.4% during the second quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new position in Coinbase Global during the second quarter worth $29,000. Versant Capital Management Inc boosted its position in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Spirit of America Management Corp NY purchased a new stake in shares of Coinbase Global in the second quarter valued at about $33,000. Finally, Continuum Advisory LLC lifted its stake in Coinbase Global by 3,000.0% in the 2nd quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Gokul Rajaram sold 400 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the sale, the director now owns 7,771 shares of the company’s stock, valued at $1,588,703.24. This trade represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,966 shares of company stock worth $47,064,922. 23.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

COIN has been the subject of a number of analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Oppenheimer boosted their target price on shares of Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 price target on the stock. Mizuho lifted their price target 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. Finally, JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $255.22.

Coinbase Global Stock Performance

NASDAQ COIN opened at $293.29 on Wednesday. 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, Inc. has a 1-year low of $112.18 and a 1-year high of $341.75. The firm has a market capitalization of $73.43 billion, a P/E ratio of 50.05 and a beta of 3.34. The business’s 50-day simple moving average is $217.21 and its 200-day simple moving average is $215.90.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results 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 net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm earned ($0.01) earnings per share. The company’s quarterly revenue was up 78.8% on a year-over-year basis. Equities analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current year.

Coinbase Global 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.