LeConte Wealth Management LLC Invests $298,000 in Coinbase Global, Inc. $COIN

LeConte Wealth Management LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 851 shares of the cryptocurrency exchange’s stock, valued at approximately $298,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Oxinas Partners Wealth Management LLC bought a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $384,000. McAdam LLC bought a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $466,000. Surience Private Wealth LLC boosted its position in shares of Coinbase Global by 25.8% in the 2nd quarter. Surience Private Wealth LLC now owns 3,126 shares of the cryptocurrency exchange’s stock worth $1,096,000 after purchasing an additional 641 shares in the last quarter. North Star Investment Management Corp. bought a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $55,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Coinbase Global by 4.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 74,600 shares of the cryptocurrency exchange’s stock worth $26,147,000 after purchasing an additional 3,300 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

Shares of COIN opened at $321.77 on Thursday. The firm has a market cap of $82.68 billion, a PE ratio of 31.12 and a beta of 3.68. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $332.53 and a two-hundred day simple moving average of $273.28. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. On average, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen raised Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Argus began coverage on Coinbase Global in a research report on Monday, July 14th. They issued a “buy” rating and a $400.00 price objective on the stock. Citigroup upped their price objective on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Benchmark upped their price objective on Coinbase Global from $301.00 to $421.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Finally, Keefe, Bruyette & Woods lowered their price objective on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a research report on Monday, August 4th. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $356.18.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $322.28, for a total value of $8,057,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at $169,519.28. This represents a 97.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lawrence J. Brock sold 5,903 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the sale, the insider owned 478 shares of the company’s stock, valued at $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 749,515 shares of company stock worth $283,990,425. 17.65% of the stock is owned by corporate insiders.

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.