LexAurum Advisors LLC Raises Position in Coinbase Global, Inc. (NASDAQ:COIN)

LexAurum Advisors LLC increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,975 shares of the cryptocurrency exchange’s stock after purchasing an additional 646 shares during the period. LexAurum Advisors LLC’s holdings in Coinbase Global were worth $2,725,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Red Door Wealth Management LLC acquired a new stake in Coinbase Global in the fourth quarter worth about $304,000. Avior Wealth Management LLC raised its position in shares of Coinbase Global by 7.8% in the 4th quarter. Avior Wealth Management LLC now owns 965 shares of the cryptocurrency exchange’s stock valued at $240,000 after purchasing an additional 70 shares during the last quarter. Dakota Wealth Management acquired a new stake in Coinbase Global in the 4th quarter worth approximately $509,000. Simon Quick Advisors LLC grew its position in Coinbase Global by 8.5% during the 4th quarter. Simon Quick Advisors LLC now owns 2,122 shares of the cryptocurrency exchange’s stock worth $527,000 after purchasing an additional 166 shares during the last quarter. Finally, Oxinas Partners Wealth Management LLC acquired a new position in Coinbase Global during the 4th quarter valued at approximately $265,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Up 0.1 %

Shares of Coinbase Global stock opened at $296.01 on Friday. The company has a market cap of $74.11 billion, a P/E ratio of 50.51 and a beta of 3.59. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a 50-day simple moving average of $290.70 and a two-hundred day simple moving average of $233.19.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s quarterly revenue was up 78.8% compared to the same quarter last year. As a group, equities analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COIN shares. Bank of America lifted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Needham & Company LLC increased their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Oppenheimer reduced their price objective on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $282.83.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the transaction, the chief operating officer now directly owns 175,101 shares of the company’s stock, valued at approximately $35,598,033.30. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,489 shares of company stock worth $109,624,297 in the last 90 days. Insiders own 23.43% 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.