LexAurum Advisors LLC Has $2.06 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

LexAurum Advisors LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 9.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,971 shares of the cryptocurrency exchange’s stock after buying an additional 996 shares during the quarter. LexAurum Advisors LLC’s holdings in Coinbase Global were worth $2,062,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Savant Capital LLC acquired a new stake in Coinbase Global in the 4th quarter valued at $591,000. KCM Investment Advisors LLC acquired a new position in Coinbase Global in the fourth quarter worth $507,000. Principal Securities Inc. boosted its stake in Coinbase Global by 35.3% in the fourth quarter. Principal Securities Inc. now owns 1,032 shares of the cryptocurrency exchange’s stock worth $256,000 after purchasing an additional 269 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Coinbase Global by 10.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange’s stock worth $610,000 after purchasing an additional 232 shares in the last quarter. Finally, Stephens Inc. AR acquired a new position in Coinbase Global in the fourth quarter worth $261,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $247.15, for a total transaction of $6,178,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $130,000.90. This represents a 97.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. The trade was a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,717 shares of company stock valued at $42,980,101 in the last ninety days. 17.65% of the stock is owned by insiders.

Coinbase Global Stock Performance

Coinbase Global stock opened at $251.27 on Friday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The company has a market cap of $63.79 billion, a PE ratio of 26.45 and a beta of 3.61. The company’s 50-day moving average is $212.70 and its two-hundred day moving average is $243.25.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business’s revenue was up 24.2% compared to the same quarter last year. During the same period last year, the company earned $2.53 earnings per share. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Oppenheimer set a $293.00 price objective on Coinbase Global in a research note on Thursday, May 15th. Bank of America reduced their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Jefferies Financial Group reissued a “hold” rating and issued a $260.00 price objective (up previously from $210.00) on shares of Coinbase Global in a research note on Tuesday, May 27th. Piper Sandler boosted their price objective on Coinbase Global from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, Benchmark boosted their price objective on Coinbase Global from $252.00 to $301.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.10.

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.