856 Shares in Coinbase Global, Inc. $COIN Purchased by JFG Wealth Management LLC

JFG Wealth Management LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, HoldingsChannel reports. The firm acquired 856 shares of the cryptocurrency exchange’s stock, valued at approximately $300,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Groupama Asset Managment increased its holdings in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after acquiring an additional 875,359 shares in the last quarter. Nuveen LLC bought a new stake in Coinbase Global in the first quarter valued at about $83,454,000. Amundi raised its position in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Coinbase Global by 141.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 403,368 shares of the cryptocurrency exchange’s stock worth $141,376,000 after purchasing an additional 236,525 shares during the period. 68.84% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 19,927 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $288.77, for a total transaction of $5,754,319.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the sale, the chief financial officer directly owned 84,820 shares in the company, valued at $29,212,856.20. This trade represents a 4.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 487,658 shares of company stock worth $154,461,520. 23.43% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Coinbase Global stock opened at $304.01 on Wednesday. The business’s fifty day moving average is $334.21 and its two-hundred day moving average is $313.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The firm has a market cap of $81.97 billion, a P/E ratio of 26.30 and a beta of 3.67. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced 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 return on equity of 15.70% and a net margin of 41.99%.The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was up 55.1% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on COIN shares. HC Wainwright raised Coinbase Global from a “sell” rating to a “buy” rating and lifted their price objective for the company from $300.00 to $425.00 in a report on Thursday, October 30th. Citigroup boosted their price target on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Bank of America lowered their price target on Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. Jefferies Financial Group reissued a “hold” rating and set a $384.00 price objective on shares of Coinbase Global in a 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, nineteen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $399.94.

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.