Banque Cantonale Vaudoise Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• Banque Cantonale Vaudoise has acquired 2,514 shares of Coinbase Global, Inc. worth approximately $433,000, indicating renewed interest from institutional investors.
• In its latest earnings report, Coinbase posted $0.12 EPS, missing the consensus estimate by $0.79, while revenue of $1.50 billion fell short of expectations.
• Coinbase Global's stock has seen significant insider selling, with its CEO and a director selling over 366,000 shares collectively, resulting in a drastic decrease in their respective ownerships.

Banque Cantonale Vaudoise acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,514 shares of the cryptocurrency exchange's stock, valued at approximately $433,000.

A number of other large investors have also recently added to or reduced their stakes in COIN. Arrowstreet Capital Limited Partnership lifted its holdings in Coinbase Global by 51.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 72,681 shares of the cryptocurrency exchange's stock valued at $18,047,000 after purchasing an additional 24,536 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Coinbase Global by 131.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,512 shares of the cryptocurrency exchange's stock valued at $1,433,000 after purchasing an additional 3,131 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Coinbase Global by 41.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,850 shares of the cryptocurrency exchange's stock valued at $2,942,000 after purchasing an additional 3,449 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after purchasing an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Coinbase Global by 614.8% in the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock valued at $85,253,000 after purchasing an additional 295,313 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COIN has been the topic of several recent analyst reports. HC Wainwright reiterated a "sell" rating and set a $300.00 price objective on shares of Coinbase Global in a report on Friday. Erste Group Bank initiated coverage on shares of Coinbase Global in a report on Wednesday, July 23rd. They set a "buy" rating on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a report on Friday, May 9th. Sanford C. Bernstein increased their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Finally, Benchmark increased their price objective on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $344.55.

Coinbase Global Stock Down 16.7%

Shares of COIN stock traded down $63.07 during mid-day trading on Friday, reaching $314.69. 31,265,570 shares of the company were exchanged, compared to its average volume of 12,904,831. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The company has a market capitalization of $79.89 billion, a P/E ratio of 30.43, a P/E/G ratio of 21.92 and a beta of 3.70. The business's 50 day simple moving average is $327.63 and its 200 day simple moving average is $259.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.95% and a net margin of 40.87%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the business posted $0.14 EPS. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction 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 completion of the transaction, the insider owned 82,328 shares of the company's stock, valued at $28,702,833.92. The trade was a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 198,300 shares of Coinbase Global stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $209,279.62. This represents a 99.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,208,340 shares of company stock valued at $439,997,456. 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.