Coinbase Global, Inc. $COIN Shares Sold by CV Advisors LLC

Key Points

• CV Advisors LLC reduced its stake in Coinbase Global, Inc. by 24.6% in Q2, now holding 4,092 shares valued at approximately $1.43 million.
• Insiders sold a total of 721,764 shares of Coinbase stock worth around $273.6 million in the last quarter, with significant sales from executives Lawrence J. Brock and Paul Grewal.
• Coinbase Global's stock price has seen a 7.7% decline, trading at around $357.01, with a market cap of $91.73 billion and a recent earnings report falling short of expectations.

CV Advisors LLC reduced its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 24.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,092 shares of the cryptocurrency exchange's stock after selling 1,334 shares during the period. Coinbase Global makes up about 0.4% of CV Advisors LLC's investment portfolio, making the stock its 17th largest position. CV Advisors LLC's holdings in Coinbase Global were worth $1,434,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of COIN. Groupama Asset Managment grew its holdings in Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock worth $516,690,000 after acquiring an additional 1,500,000 shares during the period. Vanguard Group Inc. grew its holdings in Coinbase Global by 4.8% during the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock worth $3,323,084,000 after acquiring an additional 875,359 shares during the period. Nuveen LLC purchased a new position in Coinbase Global in the 1st quarter worth about $83,454,000. Amundi increased its stake in Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange's stock worth $268,850,000 after purchasing an additional 481,786 shares in the last quarter. Finally, Perpetual Ltd purchased a new position in Coinbase Global in the 2nd quarter worth about $62,324,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the sale, the insider directly owned 478 shares in the company, valued at $148,834.86. The trade was a 92.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the sale, the insider owned 82,328 shares of the company's stock, valued at approximately $28,475,608.64. This trade represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 721,764 shares of company stock worth $273,595,798 over the last quarter. Insiders own 17.65% of the company's stock.

Coinbase Global Stock Down 7.7%

Shares of Coinbase Global stock opened at $357.01 on Friday. The firm has a market cap of $91.73 billion, a price-to-earnings ratio of 34.53 and a beta of 3.68. 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 52-week low of $142.58 and a 52-week high of $444.64. The stock has a 50-day simple moving average of $325.06 and a 200-day simple moving average of $287.80.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 earnings per share. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on COIN shares. Erste Group Bank started coverage on Coinbase Global in a research note on Wednesday, July 23rd. They issued a "buy" rating on the stock. Sanford C. Bernstein raised their price objective on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Needham & Company LLC raised their price objective on Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. JMP Securities raised their price objective on Coinbase Global from $400.00 to $440.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Finally, Mizuho set a $300.00 price objective on Coinbase Global in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Coinbase Global currently has a consensus rating of "Moderate Buy" and an average target price of $367.12.

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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