JFG Wealth Management LLC Purchases Shares of 856 Coinbase Global, Inc. $COIN

JFG Wealth Management LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 856 shares of the cryptocurrency exchange’s stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Envestnet Asset Management Inc. boosted its holdings in Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after buying an additional 9,952 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Coinbase Global by 6.5% in the first quarter. Allworth Financial LP now owns 2,413 shares of the cryptocurrency exchange’s stock valued at $416,000 after buying an additional 148 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Coinbase Global during the 1st quarter valued at $327,000. Cerity Partners LLC boosted its stake in shares of Coinbase Global by 14.7% during the 1st quarter. Cerity Partners LLC now owns 16,292 shares of the cryptocurrency exchange’s stock worth $2,806,000 after acquiring an additional 2,088 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Coinbase Global by 14.1% during the 1st quarter. CWM LLC now owns 6,439 shares of the cryptocurrency exchange’s stock worth $1,109,000 after acquiring an additional 795 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Trading Down 4.4%

Shares of NASDAQ COIN opened at $304.01 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The business has a 50-day moving average price of $334.21 and a two-hundred day moving average price of $313.48. The firm has a market capitalization of $81.97 billion, a PE ratio of 26.30 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last posted 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 business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The firm’s revenue was up 55.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their target price on Coinbase Global from $385.00 to $368.00 in a research report on Friday, October 31st. B. Riley increased their price target on Coinbase Global from $185.00 to $243.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Cantor Fitzgerald cut their price objective on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Rothschild & Co Redburn raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price objective for the company from $325.00 to $417.00 in a research note on Friday, October 3rd. Finally, Barclays decreased their target price on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $399.94.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 19,927 shares of Coinbase Global stock in a transaction on Friday, November 7th. The shares were sold at an average price of $288.77, for a total transaction of $5,754,319.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $301.46, for a total transaction of $3,014,600.00. Following the transaction, the director owned 204,973 shares in the company, valued at approximately $61,791,160.58. This represents a 4.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 487,658 shares of company stock worth $154,461,520. Insiders own 23.43% of the company’s stock.

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.