Sage Mountain Advisors LLC Purchases Shares of 663 Coinbase Global, Inc. $COIN

Sage Mountain Advisors LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 663 shares of the cryptocurrency exchange’s stock, valued at approximately $232,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Cadent Capital Advisors LLC boosted its holdings in Coinbase Global by 1.0% in the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after purchasing an additional 30 shares during the last quarter. Ameriflex Group Inc. boosted its holdings in Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after purchasing an additional 30 shares during the last quarter. Pettinga Financial Advisors LLC boosted its holdings in Coinbase Global by 2.6% in the second quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after purchasing an additional 34 shares during the last quarter. Hemington Wealth Management boosted its holdings in Coinbase Global by 12.1% in the second quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock valued at $123,000 after purchasing an additional 38 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in Coinbase Global by 13.7% in the second quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock valued at $113,000 after purchasing an additional 39 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 4,400 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the completion of the sale, the chief financial officer owned 84,820 shares of the company’s stock, valued at approximately $29,212,856.20. This represents a 4.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $190,054.32. This represents a 97.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,657 shares of company stock valued at $67,479,576. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on COIN shares. JMP Securities upped their price objective on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a research report on Monday, July 14th. Argus started coverage on shares of Coinbase Global in a research report on Monday, July 14th. They issued a “buy” rating and a $400.00 price objective for the company. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $470.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Mizuho set a $300.00 price objective on shares of Coinbase Global in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $384.12.

Coinbase Global Stock Up 9.8%

COIN opened at $354.46 on Monday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $329.63 and a 200 day moving average price of $300.44. The company has a market cap of $91.07 billion, a PE ratio of 34.28 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Coinbase Global Company 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.