ASR Vermogensbeheer N.V. Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• ASR Vermogensbeheer N.V. acquired 11,220 shares of Coinbase Global, valued at approximately $1.93 million, marking a significant investment in the cryptocurrency exchange.
• Wall Street analysts have mixed views on Coinbase, with Citigroup raising its price target to $505 while others have issued sell or hold ratings, reflecting a divided outlook on the stock's future.
• Coinbase reported a miss in earnings expectations for the last quarter, with an EPS of $0.12 compared to a consensus estimate of $0.91, although revenue increased by 3.3% year-over-year.

ASR Vermogensbeheer N.V. acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,220 shares of the cryptocurrency exchange's stock, valued at approximately $1,932,000.

Other hedge funds also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global during the 4th quarter worth $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $35,000. Brooklands Fund Management Ltd acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $37,245,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $37,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COIN has been the subject of several research reports. Compass Point reaffirmed a "sell" rating and issued a $248.00 price target (down from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Erste Group Bank initiated coverage on shares of Coinbase Global in a report on Wednesday, July 23rd. They issued a "buy" rating for the company. Citigroup lifted their price target on shares of Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. JMP Securities lifted their price objective on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Finally, Barclays cut their price objective on shares of Coinbase Global from $359.00 to $352.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $352.18.

Coinbase Global Stock Down 0.1%

NASDAQ COIN opened at $310.54 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The company's 50 day simple moving average is $332.88 and its 200 day simple moving average is $260.33. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a market capitalization of $79.79 billion, a P/E ratio of 30.03, a PEG ratio of 26.89 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 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 business 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 earned $0.14 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total value of $3,486,400.00. Following the sale, the insider directly owned 82,328 shares in the company, valued at $28,702,833.92. The trade was a 10.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alesia J. Haas sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the completion of the sale, the chief financial officer owned 97,366 shares in the company, valued at $35,071,233.20. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,208,340 shares of company stock worth $442,911,206 in the last ninety days. 17.65% of the stock is currently owned by corporate 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.

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