Vestor Capital LLC Takes Position in Coinbase Global, Inc. $COIN

Vestor Capital LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 16,647 shares of the cryptocurrency exchange’s stock, valued at approximately $5,835,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evelyn Partners Investment Management Europe Ltd raised its position in shares of Coinbase Global by 92.3% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after acquiring an additional 36 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Coinbase Global in the 1st quarter valued at about $30,000. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global in the 2nd quarter worth about $30,000. S Bank Fund Management Ltd acquired a new position in Coinbase Global in the 1st quarter worth about $31,000. Finally, SouthState Corp boosted its position in Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 0.9%

COIN stock opened at $240.41 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $327.03 and a two-hundred day moving average of $316.29. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a market cap of $64.83 billion, a price-to-earnings ratio of 20.80 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $0.28 EPS. The business’s revenue for the quarter was up 55.1% compared to the same quarter last year. As a group, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a report on Friday, October 3rd. Citigroup lifted their target price on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Coinbase Global in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $398.08.

Insider Buying and Selling

In other news, COO Emilie Choi sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the transaction, the chief operating officer owned 187,802 shares of the company’s stock, valued at approximately $58,383,885.76. The trade was a 34.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 40,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $271.87, for a total transaction of $10,874,800.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 755,171 shares of company stock valued at $234,838,249 in the last quarter. Corporate insiders own 17.65% of the company’s stock.

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.