LexAurum Advisors LLC Acquires 646 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

LexAurum Advisors LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,975 shares of the cryptocurrency exchange’s stock after acquiring an additional 646 shares during the quarter. LexAurum Advisors LLC’s holdings in Coinbase Global were worth $2,725,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in Coinbase Global by 14.8% during the second quarter. Envestnet Asset Management Inc. now owns 44,847 shares of the cryptocurrency exchange’s stock valued at $9,966,000 after purchasing an additional 5,767 shares during the last quarter. AE Wealth Management LLC lifted its stake in shares of Coinbase Global by 17.9% in the 2nd quarter. AE Wealth Management LLC now owns 941 shares of the cryptocurrency exchange’s stock valued at $209,000 after purchasing an additional 143 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Coinbase Global by 22.3% in the 2nd quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock worth $2,694,000 after purchasing an additional 2,212 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Coinbase Global by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 25,178 shares of the cryptocurrency exchange’s stock worth $5,595,000 after purchasing an additional 1,727 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Coinbase Global by 71.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 35,578 shares of the cryptocurrency exchange’s stock valued at $7,906,000 after purchasing an additional 14,866 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. This represents a 61.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 367,489 shares of company stock valued at $109,624,297 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

COIN stock opened at $296.01 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The business has a 50-day moving average price of $290.70 and a 200 day moving average price of $233.19. The company has a market capitalization of $74.11 billion, a P/E ratio of 50.51 and a beta of 3.59.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on COIN shares. HC Wainwright restated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lowered their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a report on Monday, January 13th. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Oppenheimer decreased their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler boosted their target price on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $282.83.

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.