AG2R LA Mondiale Gestion D Actifs Buys New Position in Coinbase Global, Inc. $COIN

Key Points

• AG2R LA Mondiale Gestion D Actifs has acquired 7,662 shares of Coinbase Global, valued at approximately $1,320,000, as per its recent SEC filing.
• Analysts have mixed ratings on Coinbase, with 13 buy ratings, 10 hold ratings, and 2 sell ratings; the average price target stands at $352.72.
• Coinbase's recent quarterly earnings showed a missed earnings per share estimate of $0.12 against a consensus of $0.91, leading to a noted increase in year-over-year revenue by 3.3%.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,662 shares of the cryptocurrency exchange's stock, valued at approximately $1,320,000.

A number of other large investors have also recently modified their holdings of COIN. Focus Partners Wealth boosted its position in shares of Coinbase Global by 122.8% during the 4th quarter. Focus Partners Wealth now owns 4,735 shares of the cryptocurrency exchange's stock valued at $1,202,000 after acquiring an additional 2,610 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $446,000. Janus Henderson Group PLC boosted its position in shares of Coinbase Global by 12.7% during the 4th quarter. Janus Henderson Group PLC now owns 17,499 shares of the cryptocurrency exchange's stock valued at $4,343,000 after acquiring an additional 1,975 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Coinbase Global by 134.1% during the 4th quarter. Quantinno Capital Management LP now owns 8,661 shares of the cryptocurrency exchange's stock valued at $2,151,000 after acquiring an additional 4,961 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $594,000. Institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Down 0.3%

COIN stock traded down $0.91 during midday trading on Friday, hitting $323.04. The company had a trading volume of 6,910,551 shares, compared to its average volume of 7,671,783. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The stock's 50 day moving average price is $340.68 and its 200 day moving average price is $267.27. The stock has a market cap of $83.00 billion, a price-to-earnings ratio of 53.22 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. William Blair began coverage on Coinbase Global in a research report on Wednesday, June 11th. They set an "outperform" rating for the company. Jefferies Financial Group lifted their price target on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research note on Tuesday, July 29th. Erste Group Bank began coverage on shares of Coinbase Global in a research note on Wednesday, July 23rd. They set a "buy" rating on the stock. Barclays lifted their price target on shares of Coinbase Global from $352.00 to $365.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research note on Monday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $352.72.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $190,732.86. This represents a 99.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 1,180,871 shares of company stock worth $440,664,276 in the last ninety days. 23.43% of the stock is owned by corporate insiders.

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.