Estate Counselors LLC Makes New $1.48 Million Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Estate Counselors LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,330 shares of the cryptocurrency exchange’s stock, valued at approximately $1,484,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Crewe Advisors LLC boosted its position in Coinbase Global by 547.4% in 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 during the last quarter. Lynx Investment Advisory bought a new position in Coinbase Global during the second quarter valued at about $29,000. Versant Capital Management Inc increased its holdings in Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares during the last quarter. Spirit of America Management Corp NY bought a new stake in Coinbase Global in the second quarter worth about $33,000. Finally, Continuum Advisory LLC boosted its stake in Coinbase Global by 3,000.0% in the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $304.64 on Friday. The firm has a market capitalization of $76.27 billion, a P/E ratio of 51.99 and a beta of 3.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $214.20 and its two-hundred day simple moving average is $215.16. Coinbase Global, Inc. has a twelve month low of $107.98 and a twelve month high of $341.75.

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 the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the 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 transaction, the insider now directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. This represents a 18.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value 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. This represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 194,091 shares of company stock valued at $50,033,426 in the last quarter. Insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. 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. Piper Sandler reiterated a “neutral” rating and set a $245.00 price target on shares of Coinbase Global in a research note on Friday, November 1st. Needham & Company LLC boosted their price objective on Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Mizuho lifted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research note on Thursday, October 31st. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $251.00.

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.