Coinbase Global, Inc. $COIN Stock Position Increased by Azora Capital LP

Azora Capital LP lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 77.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 242,415 shares of the cryptocurrency exchange’s stock after acquiring an additional 105,661 shares during the quarter. Coinbase Global accounts for about 3.8% of Azora Capital LP’s investment portfolio, making the stock its 6th largest holding. Azora Capital LP owned 0.09% of Coinbase Global worth $84,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Goldstream Capital Management Ltd purchased a new stake in Coinbase Global in the second quarter worth approximately $1,504,000. Lombard Odier Asset Management USA Corp bought a new position in shares of Coinbase Global during the 2nd quarter valued at $976,000. Avenir Tech Ltd purchased a new position in shares of Coinbase Global in the 2nd quarter worth $201,000. Daiwa Securities Group Inc. grew its holdings in shares of Coinbase Global by 91.6% in the second quarter. Daiwa Securities Group Inc. now owns 31,403 shares of the cryptocurrency exchange’s stock worth $11,006,000 after acquiring an additional 15,017 shares during the period. Finally, Resolute Capital Asset Partners LLC bought a new stake in shares of Coinbase Global in the second quarter worth $6,379,000. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $309.92, for a total value of $85,870,774.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 40,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $271.87, for a total transaction of $10,874,800.00. The SEC filing for this sale provides additional information. Insiders sold 733,096 shares of company stock valued at $226,624,810 in the last three months. Corporate insiders own 16.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Monness Crespi & Hardt raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a report on Monday, November 10th. Redburn Partners set a $417.00 price target on shares of Coinbase Global in a research report on Friday, October 3rd. President Capital raised their price objective on shares of Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Rosenblatt Securities boosted their target price on shares of Coinbase Global from $450.00 to $470.00 in a research report on Friday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price 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 given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $396.94.

Coinbase Global Stock Up 1.2%

Shares of COIN opened at $277.36 on Wednesday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The business’s 50 day moving average is $312.73 and its 200 day moving average is $318.87. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $74.79 billion, a PE ratio of 23.99 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The company had revenue of $1.87 billion for 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%. Coinbase Global’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. Research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.