Emerald Mutual Fund Advisers Trust Boosts Stake in Coinbase Global, Inc. $COIN

Emerald Mutual Fund Advisers Trust grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 207.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 792 shares of the cryptocurrency exchange’s stock after buying an additional 534 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Coinbase Global were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global in the 2nd quarter worth approximately $30,000. City State Bank purchased a new stake in Coinbase Global in the 2nd quarter worth approximately $33,000. Bessemer Group Inc. increased its holdings in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 113 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Coinbase Global in the second quarter worth $55,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Coinbase Global in the first quarter worth $30,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of analyst reports. Redburn Partners set a $417.00 price objective on shares of Coinbase Global in a research note on Friday, October 3rd. JPMorgan Chase & Co. upgraded Coinbase Global from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $342.00 to $404.00 in a research note on Friday, October 24th. China Renaissance cut their target price on Coinbase Global from $481.00 to $444.60 and set a “buy” rating for the company in a research report on Tuesday. Barclays cut their target price on Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $384.00 target price on shares of Coinbase Global in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $390.61.

Insiders Place Their Bets

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the transaction, the insider directly owned 478 shares of the company’s stock, valued at $148,834.86. This trade represents a 92.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total value of $8,886,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $186,977.22. This represents a 97.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 205,657 shares of company stock valued at $67,479,576 in the last three months. Corporate insiders own 17.65% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $328.51 on Friday. The stock has a market capitalization of $84.41 billion, a PE ratio of 31.77 and a beta of 3.68. The business has a 50 day simple moving average of $332.96 and a two-hundred day simple moving average of $304.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the firm posted $0.28 earnings per share. Coinbase Global’s revenue for the quarter was up 55.1% compared to the same quarter last year. On average, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

About Coinbase Global

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.