Global Trust Asset Management LLC Invests $48,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Global Trust Asset Management LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 254 shares of the cryptocurrency exchange’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Two Sigma Advisers LP raised its position in shares of Coinbase Global by 140.9% in the third quarter. Two Sigma Advisers LP now owns 21,200 shares of the cryptocurrency exchange’s stock worth $4,823,000 after acquiring an additional 12,400 shares during the period. Thrivent Financial for Lutherans raised its holdings in Coinbase Global by 10.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,096 shares of the cryptocurrency exchange’s stock worth $249,000 after purchasing an additional 100 shares during the period. Janus Henderson Group PLC acquired a new position in Coinbase Global in the 3rd quarter worth about $4,250,000. Cetera Advisor Networks LLC grew its holdings in Coinbase Global by 14.9% in the third quarter. Cetera Advisor Networks LLC now owns 7,275 shares of the cryptocurrency exchange’s stock valued at $1,655,000 after purchasing an additional 943 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of Coinbase Global by 23.7% in the third quarter. Cetera Investment Advisers now owns 8,753 shares of the cryptocurrency exchange’s stock valued at $1,991,000 after buying an additional 1,678 shares in the last quarter. 39.01% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Paul Grewal sold 1,090 shares of Coinbase Global stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $67.26, for a total value of $73,313.40. Following the completion of the sale, the insider now owns 43,220 shares in the company, valued at approximately $2,906,977.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III purchased 706,554 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were purchased at an average price of $70.77 per share, for a total transaction of $50,002,826.58. Following the completion of the purchase, the director now directly owns 706,554 shares of the company’s stock, valued at $50,002,826.58. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,121,844 shares of company stock worth $76,837,576. Corporate insiders own 36.10% of the company’s stock.

NASDAQ:COIN opened at $62.71 on Monday. The company’s 50-day moving average is $83.36 and its two-hundred day moving average is $160.44. Coinbase Global, Inc. has a 1-year low of $40.83 and a 1-year high of $368.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 6.69 and a beta of 3.17.

Coinbase Global (NASDAQ:COIN – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The cryptocurrency exchange reported ($1.98) EPS for the quarter, missing the consensus estimate of $0.74 by ($2.72). The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Coinbase Global had a net margin of 33.63% and a return on equity of 42.39%. The firm’s quarterly revenue was down 35.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.05 EPS. As a group, equities analysts anticipate that Coinbase Global, Inc. will post -8.16 earnings per share for the current fiscal year.

COIN has been the topic of a number of research analyst reports. Wedbush dropped their price target on shares of Coinbase Global from $160.00 to $100.00 in a research note on Wednesday, May 11th. Redburn Partners cut shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research note on Thursday. Cowen started coverage on shares of Coinbase Global in a research note on Thursday, May 26th. They issued an “outperform” rating and a $85.00 price target on the stock. Citigroup cut their price objective on Coinbase Global from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, March 22nd. Finally, The Goldman Sachs Group decreased their target price on Coinbase Global from $80.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 15th. Six investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $203.65.

Coinbase Global Profile (Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

See Also

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