ASR Vermogensbeheer N.V. Raises Stock Position in Coinbase Global, Inc. $COIN

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Coinbase Global, Inc. by 26.4% during the 2nd quarter, bringing its total shares to 14,177, valued at approximately $4.97 million.
• Coinbase recently reported an earnings miss with an EPS of $0.12, falling short of analysts' expectations of $0.91, while revenues rose 3.3% year-over-year to $1.50 billion.
• The stock has a consensus rating of "Hold" from analysts, with an average price target of $367.27, despite recent price target adjustments from various institutions.

ASR Vermogensbeheer N.V. grew its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 26.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,177 shares of the cryptocurrency exchange's stock after purchasing an additional 2,957 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Coinbase Global were worth $4,969,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in 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 buying an additional 875,359 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of 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 worth $528,592,000 after acquiring an additional 34,462 shares during the last quarter. Groupama Asset Managment grew its stake in shares of 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 acquiring an additional 1,500,000 shares during the last quarter. Amundi grew its stake in shares of Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange's stock worth $268,850,000 after acquiring an additional 481,786 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Coinbase Global by 0.6% during the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange's stock worth $224,318,000 after acquiring an additional 7,675 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

NASDAQ:COIN opened at $380.02 on Friday. Coinbase Global, Inc. has a one year low of $142.58 and a one year 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 firm has a market cap of $97.64 billion, a price-to-earnings ratio of 36.75 and a beta of 3.68. The firm's fifty day moving average is $323.62 and its two-hundred day moving average is $280.84.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued 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 company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $322.28, for a total transaction of $8,057,000.00. Following the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $169,519.28. This represents a 97.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. The trade was a 92.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 714,515 shares of company stock worth $272,046,775. Corporate insiders own 17.65% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America dropped their target price on shares of Coinbase Global from $369.00 to $340.00 in a research report on Wednesday. HC Wainwright reissued a "sell" rating and set a $300.00 price objective on shares of Coinbase Global in a report on Friday, August 1st. Oppenheimer reissued an "outperform" rating and set a $417.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $351.00 to $363.00 and gave the company a "neutral" rating in a report on Friday. Finally, Monness Crespi & Hardt downgraded Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Fifteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $367.27.

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.

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