Banco Bilbao Vizcaya Argentaria S.A. Sells 23,425 Shares of Coinbase Global, Inc. $COIN

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Banco Bilbao Vizcaya Argentaria S.A. lowered its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 492,012 shares of the cryptocurrency exchange's stock after selling 23,425 shares during the period. Coinbase Global accounts for 0.9% of Banco Bilbao Vizcaya Argentaria S.A.'s portfolio, making the stock its 19th largest holding. Banco Bilbao Vizcaya Argentaria S.A. owned about 0.19% of Coinbase Global worth $84,518,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of COIN. Groupama Asset Managment raised its stake in shares of Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after acquiring an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after acquiring an additional 875,359 shares during the last quarter. Nuveen LLC bought a new position in shares of Coinbase Global in the first quarter valued at approximately $83,454,000. Two Sigma Advisers LP raised its stake in shares of Coinbase Global by 445.4% in the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after acquiring an additional 333,600 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after acquiring an additional 302,595 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Activity

In other news, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares of the company's stock, valued at $190,732.86. The trade was a 99.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 1,185,704 shares of company stock valued at $438,918,732. 23.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $417.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Coinbase Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler restated a "neutral" rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. HC Wainwright restated a "sell" rating and issued a $300.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a research report on Monday, August 4th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $352.72.

Coinbase Global Price Performance

Shares of COIN stock opened at $320.73 on Tuesday. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The firm has a market capitalization of $82.41 billion, a price-to-earnings ratio of 31.02 and a beta of 3.70. 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 firm has a fifty day moving average of $341.25 and a 200-day moving average of $261.16.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly 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). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the firm earned $0.14 EPS. Coinbase Global's quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.