Azora Capital LP Acquires 220,078 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Azora Capital LP raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 214.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 322,868 shares of the cryptocurrency exchange’s stock after buying an additional 220,078 shares during the quarter. Coinbase Global comprises 3.1% of Azora Capital LP’s portfolio, making the stock its 13th largest holding. Azora Capital LP’s holdings in Coinbase Global were worth $57,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Banco Santander S.A. boosted its holdings in shares of Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the period. Global Retirement Partners LLC lifted its position in Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global during the third quarter worth $29,756,000. Lindbrook Capital LLC increased its position in Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Coinbase Global in the second quarter valued at $2,908,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $91,487.18. This trade represents a 97.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 237,719 shares of company stock worth $65,309,711. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Trading Down 4.8 %

NASDAQ COIN opened at $296.20 on Monday. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $341.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. 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’s 50-day simple moving average is $228.17 and its two-hundred day simple moving average is $218.64.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COIN. Bank of America lifted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Monness Crespi & Hardt started coverage on Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 target price for the company. Compass Point reduced their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Mizuho boosted their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $255.22.

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.