Coinbase Global, Inc. $COIN Shares Purchased by Azora Capital LP

Key Points

• Azora Capital LP significantly increased its stake in Coinbase Global by 610.2% during Q1, now holding 136,754 shares valued at approximately $23.55 million.
• CEO Brian Armstrong sold 336,265 shares valued at over $121 million, reducing his ownership by 99.84% down to just 526 shares.
• Coinbase reported a $0.12 EPS for the quarter, missing the consensus estimate of $0.91, along with a revenue of $1.50 billion compared to the expected $1.68 billion.

Azora Capital LP boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 610.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 136,754 shares of the cryptocurrency exchange's stock after acquiring an additional 117,498 shares during the period. Coinbase Global accounts for about 1.6% of Azora Capital LP's investment portfolio, making the stock its 20th largest position. Azora Capital LP owned about 0.05% of Coinbase Global worth $23,553,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment boosted its stake in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock worth $3,323,084,000 after purchasing an additional 875,359 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Coinbase Global during the 1st quarter worth about $83,454,000. Two Sigma Advisers LP boosted its stake in shares of Coinbase Global by 445.4% during the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock worth $101,431,000 after purchasing an additional 333,600 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Coinbase Global by 1,159.9% during the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock worth $81,612,000 after purchasing an additional 302,595 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,195,871 shares of company stock valued at $442,626,576 in the last 90 days. Company insiders own 17.65% of the company's stock.

Coinbase Global Trading Down 0.2%

NASDAQ COIN opened at $308.47 on Friday. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company's 50 day moving average price is $348.51 and its 200 day moving average price is $263.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The firm has a market capitalization of $79.26 billion, a price-to-earnings ratio of 29.83 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the business posted $0.14 EPS. The company's quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

COIN has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Barclays raised their price target on shares of Coinbase Global from $352.00 to $365.00 and gave the stock an "equal weight" rating in a research note on Friday, August 15th. Benchmark raised their target price on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Wall Street Zen raised shares of Coinbase Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Erste Group Bank started coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They issued a "buy" rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $352.72.

Coinbase Global Company 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.

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.