GenTrust LLC Buys 11,340 Shares of Coinbase Global, Inc. $COIN

Key Points

• GenTrust LLC increased its stake in Coinbase Global, acquiring an additional 11,340 shares, leading to a total of 17,219 shares valued at approximately $6.04 million.
• Coinbase reported a miss in earnings with $0.12 EPS against a consensus estimate of $0.91, while revenue for the quarter came in at $1.50 billion, below the expected $1.68 billion.
• Analysts maintain a Moderate Buy consensus on Coinbase stock, with a price target averaging $376.09 and various brokerages issuing buy or neutral ratings.

GenTrust LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 192.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,219 shares of the cryptocurrency exchange's stock after purchasing an additional 11,340 shares during the period. GenTrust LLC's holdings in Coinbase Global were worth $6,035,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COIN. Envestnet Asset Management Inc. increased its position in shares of Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock valued at $8,861,000 after acquiring an additional 9,952 shares during the period. Amalgamated Bank increased its holdings in Coinbase Global by 4.8% during the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock valued at $2,368,000 after purchasing an additional 629 shares during the period. Kera Capital Partners Inc. raised its position in Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange's stock valued at $12,954,000 after purchasing an additional 1,085 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Coinbase Global by 102.6% in the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange's stock worth $3,738,000 after buying an additional 5,402 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock worth $193,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Up 0.8%

Coinbase Global stock opened at $322.76 on Friday. The business's fifty day moving average is $328.89 and its 200 day moving average is $297.17. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The stock has a market capitalization of $82.93 billion, a PE ratio of 31.21 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COIN. Erste Group Bank initiated coverage on Coinbase Global in a research note on Wednesday, July 23rd. They issued a "buy" rating for the company. The Goldman Sachs Group raised their target price on shares of Coinbase Global from $363.00 to $385.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 14th. Piper Sandler reissued a "neutral" rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Needham & Company LLC lifted their price objective on Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Rothschild Redb raised Coinbase Global from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $376.09.

Insider Buying and Selling at Coinbase Global

In related news, insider Lawrence J. Brock sold 5,903 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider owned 478 shares of the company's stock, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $186,977.22. The trade was a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,657 shares of company stock valued at $67,479,576. 17.65% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.