On the trading day that was October 4, Tobias Lutke, a director at Coinbase Global, Inc. (NASDAQ: COIN), purchased 5,610 shares of the company’s stock. The total cost of purchasing the stock was $387,594.90, which comes to $69.09 per share when broken down individually. Because of the acquisition, the director now has direct control over 71,425 shares, and the total value of those shares is $4,934,753.25. When you click on this link, you will be taken to a legal file that contains information on the acquisition. This file was submitted to the SEC and will send you there automatically.
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Tobias Lutke has also closed the following business deals in the last few months:
During trading on Thursday, the NASDAQ COIN price increased by $0.94 to $73.91, resulting in a gain for the day. The company’s stock was traded with a total volume of 11,051,206 shares, with the average volume coming in at 10,428,604. The company’s current market value is 16.22 billion dollars, with a price-to-earnings ratio of-36.99 and a beta value of 2.73. The debt-to-equity ratio is calculated to be 0.58, the current ratio is calculated to be 1.06, and the quick ratio is also calculated to be 1.06. The company’s moving average over the past fifty days is $73.63, and the moving average over the past 200 days is $88.72. In the previous trading session, Coinbase Global, Inc. reached a one-year low of $40.83, while the company’s stock reached a one-year high of $368.90.
On August 9, the most recent quarterly earnings report for Coinbase Global, traded on the NASDAQ under the symbol COIN, was made public. The Bitcoin exchange reported quarterly earnings per share of $4.95, which was $1.91 lower than the consensus estimate of $3.04 per share for the quarter. Coinbase Global’s return on equity and net margin were in the red, coming in at negative 4.79% and -4.61%, respectively. Coinbase Global’s net margin was negative 4.61%. The most recent quarter’s actual sales for the company came in at $808.33 million, which is significantly lower than the generally accepted prediction of $877.32 million for that period. Industry analysts predict that Coinbase Global, Inc. will lose -11.12 USD per share in the current fiscal year.
Various equity analysts have recently provided their thoughts on the company’s stock. BTIG Research announced in a research note released on Monday, August 15, that they would be decreasing their price target for Coinbase Global shares to $220.00. The note was published online. In a research report published on Wednesday, September 14, JPMorgan Chase & Co. increased their price target on Coinbase Global from $60.00 to $70.00 and assigned the stock a “neutral” rating in a research report. In addition, the report mentioned that the company offers a “neutral” recommendation on the stock and that this opinion can be found in the report. In a research report published on June 23, Redburn Partners lowered its recommendation for Coinbase Global from “buy” to “neutral” in a research report. The firm had previously held the position that it should be purchased. On August 11, DA Davidson published a research note that increased their price objective for Coinbase Global from $90.00 to $100.00 and gave the company a “buy” rating. Finally, in a research report released on Friday, August 5, Citigroup downgraded Coinbase Global from a “buy” rating to a “hold” rating and decreased their target price on the stock from $115.00 to $105.00. The report was published in conjunction with the company’s announcement that it would be decreasing its target price on the stock. From the perspective of equity research professionals, there have been three recommendations to sell the stock, six to maintain ownership, and sixteen to purchase the stock. According to information from Bloomberg, the current consensus rating for the stock is “Moderate Buy,” and analysts have set a price target of $159.48.
Over the past few months, a wide range of hedge funds and institutional investors have adjusted the composition of their COIN holdings. The investment portfolio managed by Epic Trust Investment Advisors LLC saw a 6.4% increase in its holdings of Coinbase Global during the first three months of the year. After acquiring 75 additional shares during the most recent quarter, Epic Trust Investment Advisors LLC now has 1,250 shares of the cryptocurrency exchange’s stock. Epic Trust Investment Advisors LLC’s stock holdings have increased by 75 since the beginning of the most recent quarter. In addition, Sargent Bickham Lagudis LLC increased the proportion of Coinbase Global, owned by 34.4% over the first three months of 2018. Sargent Bickham Lagudis LLC has a total of 352 shares of the cryptocurrency exchange’s stock, which currently has a value of $67,000 after the company purchased an additional 90 shares during the most recent time window. This brings the total number of shares that the company owns to a total of 352 shares.
In the fourth quarter, Warren Averett Asset Management LLC increased 8.9% in the proportion of Coinbase Global stock it owned. As a result of the acquisition of an additional hundred shares throughout the period above, Warren Averett Asset Management LLC now has 1,229 shares of the cryptocurrency exchange in its possession. Given that each of these shares is currently valued at $239,000, the company’s holdings’ total value has increased to $339,000. In addition, Signaturefd LLC increased the percentage of its capital invested in Coinbase Global by 13.2 percent during the first three months of 2018. Signaturefd LLC now holds 868 shares of the cryptocurrency exchange’s stock, which has a combined value of $165,000 after the company acquired 101 additional shares during the reporting period. Each of these shares has a value of $0.01. Finally, during the first three months of 2018, Foundations Investment Advisors LLC increased 3.4% in the amount of Coinbase Global stock it owned. After purchasing an additional 105 shares during the most recent quarter, Foundations Investment Advisors LLC now has 3,212 shares of the cryptocurrency exchange’s stock. The value of these shares at this time is 473,000 dollars. In addition, hedge funds and other institutional investors hold the total number of shares outstanding in the company to the extent that these investors hold 49.31% of the total.
Coinbase Global, Inc. provides financial infrastructure and technology to the bitcoin industry in several countries, including the United States of America. The company gives the partners in the ecosystem access to the technology and services that make it possible for them to develop applications based on cryptocurrencies and safely accept cryptocurrencies as payment for those applications. The company also provides the primary financial account for retailers in the crypto economy and a marketplace with a pool of liquidity for institutions to trade in cryptocurrencies and several other services.