JT Stratford LLC Purchases Shares of 6,491 Coinbase Global, Inc. $COIN

JT Stratford LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,491 shares of the cryptocurrency exchange’s stock, valued at approximately $2,275,000.

A number of other institutional investors also recently modified their holdings of COIN. Cadent Capital Advisors LLC grew its stake in shares of Coinbase Global by 1.0% in the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock worth $1,108,000 after purchasing an additional 30 shares during the last quarter. Ameriflex Group Inc. lifted its holdings in Coinbase Global by 20.0% in the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after buying an additional 30 shares during the period. Pettinga Financial Advisors LLC grew its position in shares of Coinbase Global by 2.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock worth $463,000 after buying an additional 34 shares during the last quarter. Evelyn Partners Investment Management Europe Ltd increased its stake in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after buying an additional 36 shares during the period. Finally, Hemington Wealth Management raised its holdings in shares of Coinbase Global by 12.1% during the second quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock valued at $123,000 after acquiring an additional 38 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 1.3%

NASDAQ COIN opened at $263.26 on Wednesday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average price is $317.53 and its 200-day moving average price is $318.50. The stock has a market cap of $70.99 billion, a P/E ratio of 22.77 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. Coinbase Global’s revenue was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. As a group, equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

COIN has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their price objective on shares of Coinbase Global from $450.00 to $470.00 in a research report on Friday, October 31st. Cantor Fitzgerald reduced their price target on shares of Coinbase Global from $500.00 to $459.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Bank of America lowered their price objective on shares of Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. Wall Street Zen downgraded Coinbase Global from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, B. Riley increased their target price on Coinbase Global from $185.00 to $243.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and a consensus price target of $397.63.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $309.92, for a total value of $85,870,774.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 40,000 shares of Coinbase Global stock in a transaction on Monday, November 17th. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00. The SEC filing for this sale provides additional information. Insiders sold a total of 753,971 shares of company stock worth $233,049,063 in the last three months. Insiders own 16.56% of the company’s stock.

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.