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

Good Life Advisors LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,300 shares of the cryptocurrency exchange’s stock, valued at approximately $4,311,000.

Other large investors have also recently bought and sold shares of the company. Monetta Financial Services Inc. bought a new position in shares of Coinbase Global during the 2nd quarter worth approximately $1,332,000. MV Capital Management Inc. boosted its stake in Coinbase Global by 215.6% during the second quarter. MV Capital Management Inc. now owns 101 shares of the cryptocurrency exchange’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. ABN Amro Investment Solutions acquired a new stake in Coinbase Global in the second quarter worth $3,510,000. EagleClaw Capital Managment LLC bought a new stake in Coinbase Global in the second quarter valued at $259,000. Finally, Candriam S.C.A. raised its holdings in shares of Coinbase Global by 31.9% during the second quarter. Candriam S.C.A. now owns 28,396 shares of the cryptocurrency exchange’s stock valued at $9,953,000 after purchasing an additional 6,868 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Coinbase Global stock opened at $297.05 on Thursday. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. 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 market capitalization of $80.10 billion, a PE ratio of 26.03 and a beta of 3.67. The firm’s 50 day simple moving average is $334.24 and its 200 day simple moving average is $313.42.

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

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 4,400 shares of Coinbase Global stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total value of $1,515,404.00. Following the transaction, the chief financial officer owned 84,820 shares in the company, valued at $29,212,856.20. This trade represents a 4.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $337.49, for a total transaction of $8,437,250.00. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at $177,519.74. This represents a 97.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 487,658 shares of company stock valued at $154,461,520 over the last three months. Corporate insiders own 17.65% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of several recent analyst reports. Benchmark restated a “buy” rating on shares of Coinbase Global in a research note on Friday, October 31st. Piper Sandler reissued a “neutral” rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Coinbase Global in a research note on Friday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Finally, Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $399.94.

About Coinbase Global

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.