Global Assets Advisory LLC Sells 3,873 Shares of Coinbase Global, Inc. $COIN

Global Assets Advisory LLC cut its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 57.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,869 shares of the cryptocurrency exchange’s stock after selling 3,873 shares during the period. Global Assets Advisory LLC’s holdings in Coinbase Global were worth $962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after acquiring an additional 875,359 shares during the period. ARK Investment Management LLC boosted its holdings in Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after purchasing an additional 34,462 shares in the last quarter. Groupama Asset Managment grew its stake in shares of Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after purchasing an additional 1,500,000 shares during the period. Amundi raised its holdings in shares of Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after buying an additional 481,786 shares in the last quarter. Finally, Northern Trust Corp lifted its position 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 worth $224,318,000 after buying an additional 7,675 shares during the period. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COIN. China Renaissance initiated coverage on Coinbase Global in a report on Tuesday, June 17th. They set a “buy” rating and a $353.30 price objective for the company. Compass Point reissued a “sell” rating and set a $248.00 price target (down from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Rothschild Redb raised shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday. Barclays raised their price objective on shares of Coinbase Global from $352.00 to $365.00 and gave the stock an “equal weight” rating in a report on Friday, August 15th. Finally, Citigroup boosted their target price on Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $367.27.

Coinbase Global Trading Up 2.1%

Shares of NASDAQ COIN opened at $380.02 on Monday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The stock has a market cap of $97.64 billion, a price-to-earnings ratio of 36.75 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average is $323.62 and its 200-day moving average is $282.11.

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

Insider Activity

In related news, CEO Brian Armstrong sold 198,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $209,279.62. The trade was a 99.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 15,439 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the sale, the insider directly owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 714,515 shares of company stock worth $272,046,775 in the last quarter. 23.43% of the stock is currently owned by company insiders.

Coinbase Global 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.