Coinbase Global, Inc. (NASDAQ:COIN) Stock Holdings Lifted by Blair William & Co. IL

Key Points

• Blair William & Co. IL increased its stake in Coinbase Global by 20.1%, owning 38,692 shares worth approximately $6.66 million as of the latest SEC filing.
• Insider selling was notable, with CFO Alesia J. Haas selling 3,000 shares for over $1 million and Paul Grewal selling 10,000 shares for about $3.5 million, indicating a decrease in their ownership positions.
• Coinbase reported a missed earnings estimate of $0.12 EPS compared to the expected $0.91, with revenues of $1.50 billion against an estimate of $1.68 billion.

Blair William & Co. IL boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 20.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,692 shares of the cryptocurrency exchange's stock after buying an additional 6,479 shares during the quarter. Blair William & Co. IL's holdings in Coinbase Global were worth $6,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of Nova Scotia boosted its position in Coinbase Global by 6.8% during the first quarter. Bank of Nova Scotia now owns 10,778 shares of the cryptocurrency exchange's stock worth $1,857,000 after acquiring an additional 688 shares during the last quarter. Wealthquest Corp acquired a new position in shares of Coinbase Global in the first quarter worth about $864,000. Harbour Investments Inc. increased its holdings in Coinbase Global by 5.6% during the 1st quarter. Harbour Investments Inc. now owns 3,343 shares of the cryptocurrency exchange's stock worth $576,000 after purchasing an additional 178 shares during the last quarter. CAP Partners LLC increased its stake in shares of Coinbase Global by 45.8% in the first quarter. CAP Partners LLC now owns 5,491 shares of the cryptocurrency exchange's stock worth $946,000 after buying an additional 1,725 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Coinbase Global by 55.0% during the 1st quarter. Arkadios Wealth Advisors now owns 2,565 shares of the cryptocurrency exchange's stock worth $442,000 after acquiring an additional 910 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of COIN stock traded up $5.59 during midday trading on Wednesday, reaching $303.58. 15,938,879 shares of the company were exchanged, compared to its average volume of 15,039,437. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a market cap of $77.07 billion, a P/E ratio of 29.36, a PEG ratio of 25.78 and a beta of 3.70. The company's 50 day moving average price is $329.37 and its two-hundred day moving average price is $259.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm posted $0.14 earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $317.09, for a total transaction of $7,927,250.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $166,789.34. The trade was a 97.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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. In the last three months, insiders have sold 1,208,340 shares of company stock worth $442,911,206. 17.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. 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. Needham & Company LLC lifted their price target on shares of Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Coinbase Global from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler reaffirmed a "neutral" rating and issued a $350.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Finally, JMP Securities lifted their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $352.18.

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.