Coinbase Global, Inc. $COIN Shares Acquired by Plato Investment Management Ltd

Key Points

• Plato Investment Management Ltd increased its stake in Coinbase Global by 119.6%, owning 6,835 shares worth approximately $1.19 million after acquiring an additional 3,722 shares in the first quarter.
• Coinbase reported earnings of $0.12 EPS for the quarter, missing expectations, with a revenue of $1.50 billion compared to a forecast of $1.68 billion.
• Insider transactions revealed that CEO Brian Armstrong sold over 336,000 shares for approximately $121.93 million, drastically reducing his ownership in the company.

Plato Investment Management Ltd lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 119.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,835 shares of the cryptocurrency exchange's stock after acquiring an additional 3,722 shares during the quarter. Plato Investment Management Ltd's holdings in Coinbase Global were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global during the 4th quarter worth $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global during the fourth quarter worth about $26,000. Bessemer Group Inc. increased its stake in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after buying an additional 113 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Coinbase Global in the first quarter valued at approximately $30,000. Finally, S Bank Fund Management Ltd purchased a new position in Coinbase Global in the first quarter worth approximately $31,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of COIN opened at $315.34 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The stock has a market cap of $81.02 billion, a PE ratio of 30.50 and a beta of 3.68. The firm has a fifty day moving average price of $341.96 and a 200 day moving average price of $265.47.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data 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 return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the business posted $0.14 EPS. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Needham & Company LLC increased their price objective on shares of Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Barclays increased their target price on Coinbase Global from $352.00 to $365.00 and gave the company an "equal weight" rating in a report on Friday, August 15th. HC Wainwright restated a "sell" rating and issued a $300.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. 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. Finally, Argus started coverage on Coinbase Global in a research report on Monday, July 14th. They set a "buy" rating and a $400.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $352.72.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 1,180,871 shares of company stock worth $440,664,276. Company insiders own 17.65% of the company's stock.

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.

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