Coinbase Global, Inc. $COIN Shares Sold by Global Assets Advisory LLC

Key Points

• Global Assets Advisory LLC reduced its stake in Coinbase Global by 57.4%, now holding 2,869 shares worth about $962,000.
• Coinbase reported a loss of $0.12 EPS for the last quarter, missing the consensus estimate and resulting in a revenue of $1.50 billion.
• Insiders, including CEO Brian Armstrong, have sold significant shares of Coinbase, with Armstrong's sales reflecting a 99.74% decrease in his ownership.

Global Assets Advisory LLC trimmed its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 57.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,869 shares of the cryptocurrency exchange's stock after selling 3,873 shares during the quarter. Global Assets Advisory LLC's holdings in Coinbase Global were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. raised its holdings in 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 purchasing an additional 113 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global during the 1st quarter valued at $30,000. S Bank Fund Management Ltd bought a new stake in shares of Coinbase Global in the 1st quarter worth $31,000. SouthState Corp lifted its holdings in shares of Coinbase Global by 128.4% in the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange's stock valued at $32,000 after buying an additional 104 shares during the period. Finally, NBT Bank N A NY bought a new position in Coinbase Global during the first quarter valued at about $33,000. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Price Performance

Shares of COIN opened at $380.02 on Monday. 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 cap of $97.64 billion, a PE ratio of 36.75 and a beta of 3.68. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The firm's 50 day moving average price is $323.62 and its 200 day moving average price is $282.11.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced 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). The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on COIN. William Blair started coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They issued an "outperform" rating on the stock. JMP Securities boosted their target price on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Jefferies Financial Group increased their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. Williams Trading set a $405.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Coinbase Global in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $367.27.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 198,300 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the completion of the transaction, the chief executive officer owned 526 shares of the company's stock, valued at approximately $209,279.62. The trade was a 99.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $25,587,542.40. This represents a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 714,515 shares of company stock worth $272,046,775. Corporate insiders own 23.43% of the company's stock.

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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