Resolute Advisors LLC Acquires 1,130 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

by · The Markets Daily

Resolute Advisors LLC raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN – Free Report) by 15.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,230 shares of the cryptocurrency exchange’s stock after buying an additional 1,130 shares during the quarter. Coinbase Global accounts for about 0.3% of Resolute Advisors LLC’s investment portfolio, making the stock its 19th largest position. Resolute Advisors LLC’s holdings in Coinbase Global were worth $1,466,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Crewe Advisors LLC raised its holdings in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global during the 2nd quarter worth about $29,000. Geneos Wealth Management Inc. grew its stake in Coinbase Global by 833.3% during the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 100 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Coinbase Global in the third quarter valued at approximately $32,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Trading Up 5.9 %

COIN opened at $270.74 on Friday. The stock has a market capitalization of $67.27 billion, a P/E ratio of 46.20 and a beta of 3.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12 month low of $88.62 and a 12 month high of $283.48. The firm’s fifty day simple moving average is $184.92 and its 200 day simple moving average is $209.24.

Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its 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). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted ($0.01) EPS. The business’s revenue for the quarter was up 78.8% compared to the same quarter last year. As a group, research analysts anticipate that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research report on Tuesday, October 29th. Barclays lifted their price objective on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Compass Point cut their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research note on Monday, October 28th. They set a “buy” rating and a $245.00 price target for the company. Finally, Needham & Company LLC raised their price objective on shares of Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $246.28.

View Our Latest Research Report on COIN

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $91,487.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the sale, the director now directly owns 7,771 shares of the company’s stock, valued at approximately $1,588,703.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $91,487.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,822 shares of company stock worth $16,372,294 in the last quarter. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Company Profile

(Free Report)

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.

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