Coinbase Global, Inc. $COIN Shares Bought by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Coinbase Global, Inc. by 23.3%, owning 8,248 shares worth approximately $1.42 million as of the end of the first quarter.
• CEO Brian Armstrong sold 336,265 shares of Coinbase, marking a 99.84% decrease in his ownership, while corporate insiders have collectively sold 1,180,871 shares over the last 90 days.
• Coinbase's recent quarterly earnings showed a net revenue of $1.50 billion but missed analysts' expectations, reporting an EPS of $0.12 against a forecast of $0.91.

Federation des caisses Desjardins du Quebec grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 23.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,248 shares of the cryptocurrency exchange's stock after purchasing an additional 1,558 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Coinbase Global were worth $1,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global during the 4th quarter worth $25,000. Copia Wealth Management acquired a new stake in Coinbase Global during the 4th quarter worth $26,000. Bessemer Group Inc. boosted its stake in Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after purchasing an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Coinbase Global during the 1st quarter worth $30,000. Finally, S Bank Fund Management Ltd acquired a new stake in Coinbase Global during the 1st quarter worth $31,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were 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 of the company's stock, valued at $190,732.86. This represents a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 1,180,871 shares of company stock valued at $439,493,026 over the last 90 days. Corporate insiders own 23.43% of the company's stock.

Coinbase Global Trading Down 2.5%

NASDAQ COIN opened at $299.07 on Monday. The firm's 50-day moving average is $344.04 and its two-hundred day moving average is $264.28. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The stock has a market capitalization of $76.84 billion, a P/E ratio of 28.92 and a beta of 3.68.

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

Wall Street Analyst Weigh In

COIN has been the topic of several recent research reports. Erste Group Bank initiated coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They set a "buy" rating on the stock. Argus initiated coverage on shares of Coinbase Global in a research report on Monday, July 14th. They set a "buy" rating and a $400.00 price target on the stock. Oppenheimer reissued an "outperform" rating and set a $417.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. Rosenblatt Securities reissued a "buy" rating and set a $470.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of "Hold" and a consensus target price of $352.72.

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.

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