Banque Transatlantique SA Purchases 2,309 Shares of Coinbase Global, Inc. $COIN

Key Points

• Banque Transatlantique SA significantly increased its stake in Coinbase Global, Inc. by 10,995.2% in Q1, now holding 2,330 shares valued at $371,000.
• Coinbase reported a net loss of $0.12 EPS for the last quarter, missing analysts' expectations, with revenue of $1.50 billion, below the forecast of $1.68 billion.
• Despite recent selling by insiders, institutional investors and hedge funds own 68.84% of Coinbase's stock, indicating strong institutional interest in the company.

Banque Transatlantique SA grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 10,995.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,330 shares of the cryptocurrency exchange's stock after acquiring an additional 2,309 shares during the quarter. Banque Transatlantique SA's holdings in Coinbase Global were worth $371,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings 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 worth $3,323,084,000 after acquiring an additional 875,359 shares in the last quarter. ARK Investment Management LLC grew its stake in Coinbase Global by 1.1% in the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange's stock valued at $528,592,000 after purchasing an additional 34,462 shares in the last quarter. Groupama Asset Managment grew its stake in 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 purchasing an additional 1,500,000 shares in the last quarter. Amundi grew its stake in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange's stock valued at $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Coinbase Global by 0.6% in the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange's stock valued at $224,318,000 after purchasing an additional 7,675 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,180,871 shares of company stock valued at $439,493,026. Company insiders own 17.65% of the company's stock.

Coinbase Global Price Performance

NASDAQ COIN traded down $7.73 during midday trading on Friday, hitting $299.07. The company had a trading volume of 11,332,020 shares, compared to its average volume of 8,308,748. The company has a market capitalization of $76.84 billion, a PE ratio of 28.92 and a beta of 3.68. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $344.04 and a 200-day moving average price of $264.19. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

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). The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COIN has been the subject of a number of analyst reports. Argus initiated coverage on Coinbase Global in a research note on Monday, July 14th. They issued a "buy" rating and a $400.00 price target for the company. Erste Group Bank assumed coverage on Coinbase Global in a research report on Wednesday, July 23rd. They issued a "buy" rating for the company. The Goldman Sachs Group lifted their price target on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. Jefferies Financial Group lifted their price target on Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Finally, Sanford C. Bernstein lifted their price target on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $352.72.

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.