GenTrust LLC Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

GenTrust LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 5,599 shares of the cryptocurrency exchange's stock, valued at approximately $998,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange's stock valued at $236,258,000 after buying an additional 691,288 shares during the last quarter. American Century Companies Inc. boosted its stake in Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange's stock valued at $105,389,000 after acquiring an additional 435,886 shares during the last quarter. APEIRON CAPITAL Ltd acquired a new position in Coinbase Global during the 1st quarter worth $108,434,000. CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Coinbase Global in the 3rd quarter worth about $29,756,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter valued at about $26,665,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity

In related news, CFO Alesia J. Haas sold 5,250 shares of the firm's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total transaction of $1,025,062.50. Following the completion of the transaction, the chief financial officer now owns 169,786 shares of the company's stock, valued at $33,150,716.50. This trade represents a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 16,962 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. This trade represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 194,091 shares of company stock worth $50,033,426 over the last three months. Corporate insiders own 23.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COIN. Bank of America lifted their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Canaccord Genuity Group reiterated a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 price objective on the stock. Mizuho boosted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the company an "underperform" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC raised their price target on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $251.00.

Coinbase Global Stock Performance

COIN stock traded up $9.41 during trading on Friday, reaching $304.64. 12,187,194 shares of the company's stock were exchanged, compared to its average volume of 19,141,532. Coinbase Global, Inc. has a 1-year low of $107.98 and a 1-year high of $341.75. The firm has a market cap of $76.27 billion, a PE ratio of 51.99 and a beta of 3.34. The company's fifty day moving average price is $214.20 and its 200-day moving average price is $215.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the company earned ($0.01) EPS. The business's revenue for the quarter was up 78.8% compared to the same quarter last year. On average, research analysts expect that Coinbase Global, Inc. will post 4.27 EPS 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.