1,530 Shares in Coinbase Global, Inc. $COIN Acquired by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI acquired 1,530 shares of Coinbase Global, Inc. for approximately $537,000 in the second quarter, amid increasing interest from other institutional investors.
• Coinbase Global's stock has experienced a 7.7% decline, with recent earnings revealing a significant miss of $0.12 EPS against an estimate of $0.91 and a revenue of $1.50 billion below expectations.
• Insider trading activity shows CEO Brian Armstrong sold 198,300 shares for nearly $79 million, reducing his stake by 99.74%, while other executives also sold significant amounts of stock recently.

Commerzbank Aktiengesellschaft FI bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,530 shares of the cryptocurrency exchange's stock, valued at approximately $537,000.

Several other large investors have also added to or reduced their stakes in COIN. Groupama Asset Managment grew its stake in Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the period. Vanguard Group Inc. grew its stake in Coinbase Global by 4.8% during 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 during the period. Nuveen LLC acquired a new stake in Coinbase Global in the first quarter valued at approximately $83,454,000. Amundi grew its stake in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange's stock valued at $268,850,000 after acquiring an additional 481,786 shares during the period. Finally, Perpetual Ltd acquired a new stake in Coinbase Global in the second quarter valued at approximately $62,324,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Down 7.7%

Shares of NASDAQ:COIN opened at $357.01 on Friday. The stock has a market cap of $91.73 billion, a price-to-earnings ratio of 34.53 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. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The business's 50 day moving average is $325.06 and its 200 day moving average is $287.15.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 198,300 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 526 shares of the company's stock, valued at approximately $209,279.62. The trade was a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 15,439 shares of the business's stock in a transaction 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 completion of the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. This represents a 15.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 721,764 shares of company stock worth $273,595,798. Insiders own 17.65% of the company's stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of research reports. Monness Crespi & Hardt cut Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Mizuho set a $300.00 price objective on Coinbase Global in a research note on Thursday, September 18th. Rothschild & Co Redburn raised Coinbase Global from a "neutral" rating to a "buy" rating and raised their price objective for the company from $325.00 to $417.00 in a research note on Friday, October 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Coinbase Global in a research note on Saturday, September 27th. Finally, Bank of America reduced their price objective on Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $367.12.

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.

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