Silverleafe Capital Partners LLC Purchases New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Silverleafe Capital Partners LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,440 shares of the cryptocurrency exchange’s stock, valued at approximately $358,000.

Several other hedge funds have also modified their holdings of COIN. Banco Santander S.A. boosted its position in Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after purchasing an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Coinbase Global during the third quarter worth about $29,756,000. Lindbrook Capital LLC raised its position in shares of Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Coinbase Global in the 2nd quarter valued at about $2,908,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $181.36, for a total value of $272,040.00. Following the transaction, the chief operating officer now owns 176,601 shares in the company, valued at approximately $32,028,357.36. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares in the company, valued at $2,846,236.91. This trade represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,641 shares of company stock worth $80,937,273 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 7.2 %

Shares of NASDAQ COIN traded up $19.54 during midday trading on Monday, hitting $290.19. The company’s stock had a trading volume of 6,881,477 shares, compared to its average volume of 6,353,362. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $72.65 billion, a price-to-earnings ratio of 49.52 and a beta of 3.57. The business’s fifty day simple moving average is $280.83 and its two-hundred day simple moving average is $228.15. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue was up 78.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. On average, equities analysts predict that Coinbase Global, Inc. will post 4.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Monness Crespi & Hardt raised their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. Piper Sandler restated a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $165.00 to $275.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $286.22.

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.