Silverleafe Capital Partners LLC Takes $358,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Silverleafe Capital Partners LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,440 shares of the cryptocurrency exchange’s stock, valued at approximately $358,000.

A number of other hedge funds have also recently made changes to their positions in the business. Clear Street Derivatives LLC purchased a new stake in Coinbase Global during the third quarter valued at about $409,919,000. Renaissance Technologies LLC boosted its stake in shares of Coinbase Global by 185.9% during 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. grew its holdings in shares of Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the period. Finally, Azora Capital LP increased its stake in shares of Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after buying an additional 220,078 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Up 7.2 %

Shares of COIN traded up $19.54 during midday trading on Monday, reaching $290.19. 6,881,477 shares of the stock were exchanged, compared to its average volume of 6,353,362. The company’s 50 day moving average is $280.83 and its two-hundred day moving average is $228.15. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The company has a market capitalization of $72.65 billion, a P/E ratio of 49.52 and a beta of 3.57. 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 (NASDAQ:COIN) last issued 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 return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company posted ($0.01) earnings per share. The business’s revenue for the quarter was up 78.8% on a year-over-year basis. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Oppenheimer raised their target price on Coinbase Global from $265.00 to $358.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, B. Riley assumed coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $286.22.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 270,641 shares of company stock worth $80,937,273 in the last three months. Corporate insiders own 23.43% of the company’s stock.

About Coinbase Global

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.