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

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

A number of other hedge funds also recently bought and sold shares of COIN. Truist Financial Corp increased its holdings in Coinbase Global by 18.8% during the 4th quarter. Truist Financial Corp now owns 6,577 shares of the cryptocurrency exchange's stock valued at $1,633,000 after purchasing an additional 1,040 shares during the period. Sigma Planning Corp grew its holdings in shares of Coinbase Global by 162.6% during the 4th quarter. Sigma Planning Corp now owns 3,508 shares of the cryptocurrency exchange's stock worth $871,000 after acquiring an additional 2,172 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Coinbase Global by 19.2% during the 4th quarter. First Horizon Advisors Inc. now owns 621 shares of the cryptocurrency exchange's stock worth $154,000 after acquiring an additional 100 shares during the period. IFP Advisors Inc grew its holdings in shares of Coinbase Global by 297.8% during the 4th quarter. IFP Advisors Inc now owns 7,080 shares of the cryptocurrency exchange's stock worth $1,758,000 after acquiring an additional 5,300 shares during the period. Finally, Amalgamated Bank grew its holdings in shares of Coinbase Global by 4.7% during the 4th quarter. Amalgamated Bank now owns 13,118 shares of the cryptocurrency exchange's stock worth $3,257,000 after acquiring an additional 585 shares during the period. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at $88,646.78. This represents a 96.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $198.12, for a total value of $1,981,200.00. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at $16,505,971.56. The trade was a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 665,915 shares of company stock valued at $212,665,732. 17.65% of the stock is owned by corporate insiders.

Coinbase Global Stock Down 5.8%

COIN stock traded down $21.64 during midday trading on Friday, hitting $353.43. The company's stock had a trading volume of 28,945,154 shares, compared to its average volume of 10,718,895. The company has a market cap of $89.73 billion, a PE ratio of 66.19, a P/E/G ratio of 27.43 and a beta of 3.61. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $382.00. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm's 50-day moving average is $249.67 and its 200-day moving average is $241.93.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released 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). The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business's revenue was up 24.2% compared to the same quarter last year. During the same period last year, the company posted $2.53 earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup reiterated a "buy" rating on shares of Coinbase Global in a report on Wednesday. Needham & Company LLC reduced their target price on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a report on Monday, May 12th. China Renaissance assumed coverage on Coinbase Global in a report on Tuesday, June 17th. They set a "buy" rating and a $353.30 target price on the stock. Keefe, Bruyette & Woods upped their target price on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a report on Friday, May 9th. Finally, JMP Securities reiterated a "market outperform" rating and set a $400.00 target price on shares of Coinbase Global in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $291.06.

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.