Good Life Advisors LLC Takes $4.31 Million Position in Coinbase Global, Inc. $COIN

Good Life Advisors LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,300 shares of the cryptocurrency exchange’s stock, valued at approximately $4,311,000.

A number of other large investors have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. bought a new stake in shares of Coinbase Global in the first quarter worth $30,000. Cullen Frost Bankers Inc. bought a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $30,000. S Bank Fund Management Ltd acquired a new position in Coinbase Global during the first quarter worth $31,000. SouthState Corp raised its holdings in shares of Coinbase Global by 128.4% in the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Finally, City State Bank acquired a new stake in Coinbase Global in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $309.92, for a total transaction of $85,870,774.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares in the company, valued at $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 487,658 shares of company stock worth $154,461,520 in the last quarter. 17.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on COIN. Barclays reduced their price objective on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. JPMorgan Chase & Co. reduced their target price 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. Monness Crespi & Hardt upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Monday. HC Wainwright raised shares of Coinbase Global from a “sell” rating to a “buy” rating and boosted their price objective for the company from $300.00 to $425.00 in a report on Thursday, October 30th. Finally, Redburn Partners set a $417.00 target price on shares of Coinbase Global in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $399.94.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $297.05 on Thursday. 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 company has a market cap of $80.10 billion, a PE ratio of 26.03 and a beta of 3.67. The company has a 50 day moving average of $334.24 and a 200-day moving average of $313.42. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

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