Coinbase Global, Inc. $COIN is Azora Capital LP’s 6th Largest Position

Azora Capital LP grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 77.3% during the second quarter, Holdings Channel.com reports. The fund owned 242,415 shares of the cryptocurrency exchange’s stock after purchasing an additional 105,661 shares during the quarter. Coinbase Global makes up 3.8% of Azora Capital LP’s investment portfolio, making the stock its 6th biggest position. Azora Capital LP’s holdings in Coinbase Global were worth $84,964,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Evelyn Partners Investment Management Europe Ltd boosted its stake in shares of Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Coinbase Global during the 2nd quarter valued at $30,000. S Bank Fund Management Ltd purchased a new position in shares of Coinbase Global in the 1st quarter valued at $31,000. SouthState Corp raised its position in shares of Coinbase Global by 128.4% in the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Finally, City State Bank purchased a new stake in shares of Coinbase Global during the 2nd quarter worth $33,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 4,125 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $274.06, for a total transaction of $1,130,497.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 976 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $260.00, for a total value of $253,760.00. Following the transaction, the insider directly owned 74,835 shares of the company’s stock, valued at $19,457,100. The trade was a 1.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 733,096 shares of company stock valued at $226,624,810 in the last 90 days. Corporate insiders own 16.56% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent research reports. Rothschild & Co Redburn reduced their target price on shares of Coinbase Global from $417.00 to $404.00 and set a “buy” rating for the company in a report on Friday, November 28th. Barclays reduced their price objective on shares of Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. Redburn Partners set a $417.00 target price on shares of Coinbase Global in a research note on Friday, October 3rd. Bank of America cut their price target on shares of Coinbase Global from $369.00 to $340.00 in a report on Wednesday, October 1st. Finally, HC Wainwright raised Coinbase Global from a “sell” rating to a “buy” rating and upped their price target for the stock from $300.00 to $425.00 in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $396.94.

Coinbase Global Trading Up 1.2%

Shares of Coinbase Global stock opened at $277.36 on Wednesday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock has a market cap of $74.79 billion, a PE ratio of 23.99 and a beta of 3.69. The firm has a fifty day moving average price of $312.73 and a 200 day moving average price of $318.87.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.Coinbase Global’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.