GenTrust LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

GenTrust LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,879 shares of the cryptocurrency exchange's stock, valued at approximately $1,013,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange's stock valued at $4,573,462,000 after purchasing an additional 128,802 shares during the period. Geode Capital Management LLC boosted its stake in shares of Coinbase Global by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange's stock valued at $882,822,000 after buying an additional 127,075 shares in the last quarter. Norges Bank purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment purchased a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $372,450,000. Finally, Northern Trust Corp boosted its stake in shares of Coinbase Global by 20.3% in the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock valued at $321,488,000 after buying an additional 218,400 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Activity

In related news, CFO Alesia J. Haas sold 1,741 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $247.50, for a total transaction of $430,897.50. Following the transaction, the chief financial officer now directly owns 10,450 shares in the company, valued at approximately $2,586,375. This represents a 14.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $178.79, for a total value of $2,681,850.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $94,043.54. This trade represents a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 665,915 shares of company stock worth $212,665,732 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on COIN. Jefferies Financial Group restated a "hold" rating and issued a $260.00 price target (up from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. Needham & Company LLC decreased their price target on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Sanford C. Bernstein lifted their price target on Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research note on Wednesday. Monness Crespi & Hardt upgraded Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price target on the stock in a research note on Tuesday, May 13th. Finally, Citigroup restated a "buy" rating on shares of Coinbase Global in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $291.06.

Coinbase Global Price Performance

Shares of NASDAQ:COIN traded down $21.64 on Friday, hitting $353.43. The company had a trading volume of 28,945,154 shares, compared to its average volume of 10,717,985. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $382.00. The business has a 50 day moving average of $249.67 and a 200 day moving average of $240.93. The company has a market cap of $89.73 billion, a PE ratio of 66.19, a PEG ratio of 25.85 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter in the prior year, the company earned $2.53 earnings per share. The firm's revenue was up 24.2% compared to the same quarter last year. As a group, equities analysts anticipate 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.