Signature Estate & Investment Advisors LLC Has $1.48 Million Stock Holdings in Coinbase Global, Inc. $COIN

Key Points

• Signature Estate & Investment Advisors LLC reduced its holdings in Coinbase Global, Inc. by 31.9%, owning $1.48 million worth after selling 1,984 shares in the 2nd quarter.
• Coinbase reported an EPS of $0.12 for the quarter, missing the consensus estimate of $0.91, with revenues of $1.50 billion compared to expectations of $1.68 billion.
• Insider sales surged, with CEO Brian Armstrong selling 25,000 shares for approximately $8.89 million, indicating a significant decrease in their ownership stakes.

Signature Estate & Investment Advisors LLC cut its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 31.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,231 shares of the cryptocurrency exchange's stock after selling 1,984 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Coinbase Global were worth $1,483,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Quotient Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at about $281,000. Koshinski Asset Management Inc. acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at about $477,000. RWQ Financial Management Services Inc. acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at about $4,153,000. Huntleigh Advisors Inc. acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at about $2,147,000. Finally, Chevy Chase Trust Holdings LLC acquired a new stake in shares of Coinbase Global in the 2nd quarter valued at about $39,137,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Coinbase Global stock opened at $336.02 on Monday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company's 50 day moving average price is $328.26 and its two-hundred day moving average price is $294.28. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock has a market cap of $86.34 billion, a P/E ratio of 32.50 and a beta of 3.68.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on COIN shares. Keefe, Bruyette & Woods dropped their price target on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $470.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. Argus started coverage on shares of Coinbase Global in a research report on Monday, July 14th. They issued a "buy" rating and a $400.00 price target on the stock. HC Wainwright reaffirmed a "sell" rating and issued a $300.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Sanford C. Bernstein raised their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $367.94.

Insiders Place Their Bets

In related news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global 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 sale, the insider owned 478 shares of the company's stock, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global 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 sale, the chief executive officer directly owned 526 shares in the company, valued at $186,977.22. This trade represents a 97.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 205,657 shares of company stock valued at $67,479,576 in the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

About Coinbase Global

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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