TRU Independence Asset Management 2 LLC Purchases New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

TRU Independence Asset Management 2 LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the third quarter, HoldingsChannel reports. The firm purchased 2,508 shares of the cryptocurrency exchange’s stock, valued at approximately $447,000.

A number of other large investors have also added to or reduced their stakes in COIN. APEIRON CAPITAL Ltd bought a new stake in Coinbase Global in the 1st quarter valued at $108,434,000. Geneos Wealth Management Inc. raised its stake in Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 100 shares during the period. Empowered Funds LLC raised its stake in Coinbase Global by 40.8% in the 1st quarter. Empowered Funds LLC now owns 4,989 shares of the cryptocurrency exchange’s stock valued at $1,323,000 after acquiring an additional 1,445 shares during the period. Illinois Municipal Retirement Fund acquired a new position in Coinbase Global in the 1st quarter valued at $1,241,000. Finally, Sei Investments Co. grew its holdings in Coinbase Global by 41.7% in the 1st quarter. Sei Investments Co. now owns 9,916 shares of the cryptocurrency exchange’s stock valued at $2,629,000 after buying an additional 2,920 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the transaction, the insider now directly owns 18,525 shares in the company, valued at approximately $4,631,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the transaction, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the transaction, the insider now owns 18,525 shares of the company’s stock, valued at $4,631,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,822 shares of company stock worth $16,372,294. 23.43% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of COIN stock opened at $270.74 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a twelve month low of $88.62 and a twelve month high of $283.48. The company has a market cap of $67.78 billion, a P/E ratio of 46.20 and a beta of 3.34. The business has a fifty day simple moving average of $184.92 and a 200 day simple moving average of $208.94.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s quarterly revenue was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on COIN shares. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Wednesday, October 9th. Compass Point decreased their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Needham & Company LLC upped their price objective on Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Monness Crespi & Hardt initiated coverage on Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $246.28.

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.