Privium Fund Management B.V. Purchases New Stake in Coinbase Global, Inc. $COIN

Privium Fund Management B.V. acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 70,000 shares of the cryptocurrency exchange’s stock, valued at approximately $24,186,000. Coinbase Global comprises 5.2% of Privium Fund Management B.V.’s holdings, making the stock its 7th biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. ARK Investment Management LLC lifted its position in Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after buying an additional 34,462 shares in the last quarter. Groupama Asset Managment lifted its position 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 worth $516,690,000 after buying an additional 1,500,000 shares in the last quarter. Amundi boosted its stake in shares of Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Coinbase Global by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after acquiring an additional 7,675 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 2.3%

Shares of COIN stock opened at $343.78 on Tuesday. The stock’s 50 day simple moving average is $328.75 and its 200 day simple moving average is $295.56. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The company has a market capitalization of $88.33 billion, a price-to-earnings ratio of 33.25 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the company earned $0.14 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COIN. Williams Trading set a $405.00 price objective on Coinbase Global in a report on Thursday, July 31st. Argus initiated coverage on Coinbase Global in a research note on Monday, July 14th. They set a “buy” rating and a $400.00 price target for the company. Jefferies Financial Group lifted their price target on Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a report on Tuesday, July 29th. Mizuho set a $300.00 price objective on Coinbase Global in a report on Thursday, September 18th. Finally, HC Wainwright reaffirmed a “sell” rating and set a $300.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.01.

Insider Activity at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the sale, the insider directly owned 478 shares of the company’s stock, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $355.47, for a total value of $8,886,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $186,977.22. The trade was a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 205,657 shares of company stock worth $67,479,576. 23.43% of the stock is owned by insiders.

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.