Azora Capital LP Raises Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Azora Capital LP lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 214.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,868 shares of the cryptocurrency exchange’s stock after purchasing an additional 220,078 shares during the quarter. Coinbase Global accounts for about 3.1% of Azora Capital LP’s investment portfolio, making the stock its 13th biggest holding. Azora Capital LP owned 0.13% of Coinbase Global worth $57,525,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crewe Advisors LLC raised its position in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of Coinbase Global during the second quarter valued at approximately $29,000. Versant Capital Management Inc raised its holdings in shares of Coinbase Global by 75.0% during the second quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global during the third quarter valued at approximately $25,000. Finally, Spirit of America Management Corp NY purchased a new stake in Coinbase Global in the second quarter worth approximately $33,000. 68.84% of the stock is owned by institutional investors.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $91,487.18. This represents a 97.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 8,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $176.09, for a total transaction of $1,408,720.00. Following the transaction, the chief operating officer now directly owns 189,101 shares of the company’s stock, valued at $33,298,795.09. The trade was a 4.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,719 shares of company stock valued at $65,309,711. 23.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COIN. Barclays boosted their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Mizuho upped their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Oppenheimer boosted their price target on Coinbase Global from $265.00 to $358.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, Compass Point reduced their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $255.22.

Coinbase Global Stock Down 4.8 %

Shares of COIN stock opened at $296.20 on Monday. The company has a market capitalization of $74.15 billion, a price-to-earnings ratio of 50.55 and a beta of 3.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company’s fifty day moving average price is $228.17 and its 200-day moving average price is $218.64. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $341.75.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue was up 78.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share. Sell-side analysts expect that Coinbase Global, Inc. will post 4.44 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.