Blueshift Asset Management LLC Has $540,000 Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• Blueshift Asset Management LLC reduced its stake in Coinbase Global, selling 4,128 shares to end the quarter with 3,134 shares valued at approximately $540,000.
• Coinbase Global's stock has recently seen analyst price targets shift, with JPMorgan Chase & Co. lowering its target from $276.00 to $215.00 while other firms issued diverse ratings and price objectives ranging from $205.00 to $510.00.
• The company reported earnings of $0.12 per share for its latest quarter, missing analysts' expectations of $0.91, and had revenues of $1.50 billion against an estimated $1.68 billion.

Blueshift Asset Management LLC reduced its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 56.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,134 shares of the cryptocurrency exchange's stock after selling 4,128 shares during the period. Blueshift Asset Management LLC's holdings in Coinbase Global were worth $540,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vivaldi Capital Management LP increased its stake in Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after purchasing an additional 47 shares in the last quarter. MetLife Investment Management LLC increased its position in Coinbase Global by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock worth $2,746,000 after buying an additional 55 shares in the last quarter. Callan Capital LLC increased its position in Coinbase Global by 5.1% during the first quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange's stock worth $215,000 after buying an additional 61 shares in the last quarter. Emory University increased its position in Coinbase Global by 1.5% during the fourth quarter. Emory University now owns 4,376 shares of the cryptocurrency exchange's stock worth $1,087,000 after buying an additional 64 shares in the last quarter. Finally, TRU Independence Asset Management 2 LLC increased its position in Coinbase Global by 2.7% during the first quarter. TRU Independence Asset Management 2 LLC now owns 2,493 shares of the cryptocurrency exchange's stock worth $429,000 after buying an additional 65 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Alesia J. Haas sold 3,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total value 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. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 198,300 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company's stock, valued at $209,279.62. The trade was a 99.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,208,340 shares of company stock worth $439,997,456 over the last quarter. Corporate insiders own 17.65% of the company's stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN traded down $63.07 on Friday, reaching $314.69. 31,265,570 shares of the company traded hands, 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's 50 day moving average is $327.63 and its 200-day moving average is $259.53. The stock has a market capitalization of $79.89 billion, a PE ratio of 30.43, a P/E/G ratio of 21.92 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data 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 net margin of 40.87% and a return on equity of 16.95%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company posted $0.14 EPS. Coinbase Global's revenue was up 3.3% on a year-over-year basis. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on COIN shares. JMP Securities lifted their price objective on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Sanford C. Bernstein lifted their price objective on Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Needham & Company LLC lifted their price objective on Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a research report on Friday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a research report on Friday. Finally, Compass Point upgraded Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price on the stock in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $344.55.

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.