Liontrust Investment Partners LLP Buys 35,068 Shares of Coinbase Global, Inc. $COIN

Liontrust Investment Partners LLP boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 73.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,058 shares of the cryptocurrency exchange’s stock after purchasing an additional 35,068 shares during the quarter. Liontrust Investment Partners LLP’s holdings in Coinbase Global were worth $29,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Campbell Capital Management Inc. boosted its holdings in shares of Coinbase Global by 2,857.1% in the 2nd quarter. Campbell Capital Management Inc. now owns 2,070 shares of the cryptocurrency exchange’s stock valued at $726,000 after buying an additional 2,000 shares in the last quarter. Pitcairn Co. purchased a new stake in Coinbase Global during the second quarter valued at approximately $419,000. Tyler Stone Wealth Management purchased a new stake in Coinbase Global during the second quarter valued at approximately $350,000. Geneos Wealth Management Inc. boosted its stake in Coinbase Global by 93.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,831 shares of the cryptocurrency exchange’s stock valued at $642,000 after acquiring an additional 886 shares in the last quarter. Finally, Hollencrest Capital Management grew its holdings in Coinbase Global by 1,533.7% in the second quarter. Hollencrest Capital Management now owns 1,405 shares of the cryptocurrency exchange’s stock worth $492,000 after purchasing an additional 1,319 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Down 0.6%

Shares of NASDAQ:COIN opened at $267.46 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The stock has a market cap of $72.12 billion, a price-to-earnings ratio of 23.14 and a beta of 3.69. The business has a 50-day moving average price of $306.99 and a 200-day moving average price of $318.61.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company earned $0.28 EPS. Coinbase Global’s quarterly revenue was up 55.1% on a year-over-year basis. Equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling

In other Coinbase Global news, COO Emilie Choi sold 100,000 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the sale, the chief operating officer directly owned 187,802 shares of the company’s stock, valued at approximately $58,383,885.76. This trade represents a 34.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 40,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were 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 815,846 shares of company stock valued at $248,642,353 over the last 90 days. Insiders own 16.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on COIN shares. Compass Point decreased their price objective on Coinbase Global from $277.00 to $266.00 in a report on Friday, October 31st. B. Riley upped their target price on Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Argus reissued a “hold” rating on shares of Coinbase Global in a report on Tuesday, November 25th. Jefferies Financial Group restated a “hold” rating and set a $384.00 price target on shares of Coinbase Global in a research note on Wednesday, October 29th. Finally, Rosenblatt Securities increased their price objective on shares of Coinbase Global from $450.00 to $470.00 in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $394.67.

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.