JT Stratford LLC Invests $2.28 Million in Coinbase Global, Inc. $COIN

JT Stratford LLC purchased 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 & Exchange Commission. The institutional investor purchased 6,491 shares of the cryptocurrency exchange’s stock, valued at approximately $2,275,000.

Other large investors have also added to or reduced their stakes in the company. Cadent Capital Advisors LLC boosted its stake in Coinbase Global by 1.0% in the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after acquiring an additional 30 shares during the last quarter. Ameriflex Group Inc. lifted its stake in Coinbase Global by 20.0% in the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock valued at $68,000 after purchasing an additional 30 shares during the last quarter. Pettinga Financial Advisors LLC grew its holdings in Coinbase Global by 2.6% during the second quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after purchasing an additional 34 shares during the period. Evelyn Partners Investment Management Europe Ltd grew its holdings in Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 36 shares during the period. Finally, Hemington Wealth Management increased its position in Coinbase Global by 12.1% in the second quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock worth $123,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent research reports. UBS Group set a $404.00 price target on Coinbase Global in a research report on Friday, October 24th. Wall Street Zen downgraded shares of Coinbase Global from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Bank of America reduced their target price on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Jefferies Financial Group reissued a “hold” rating and issued a $384.00 price target on shares of Coinbase Global in a research report on Wednesday, October 29th. Finally, Benchmark reaffirmed a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $397.63.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $260.33, for a total value of $715,907.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul Grewal sold 976 shares of Coinbase Global stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $260.00, for a total transaction of $253,760.00. Following the sale, the insider owned 74,835 shares of the company’s stock, valued at approximately $19,457,100. The trade was a 1.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 753,971 shares of company stock valued at $233,049,063 in the last ninety days. 16.56% of the stock is currently owned by corporate insiders.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $263.26 on Wednesday. The company has a 50 day moving average of $317.53 and a 200 day moving average of $318.50. The stock has a market cap of $70.99 billion, a P/E ratio of 22.77 and a beta of 3.69. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. 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 (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating the consensus estimate of $1.04 by $0.40. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.