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

Key Points

• Resolute Advisors LLC reduced its stake in Coinbase Global by 15.4% in Q1, now holding 8,230 shares valued at approximately $1.4 million.
• Coinbase's recent earnings report indicated an earnings per share (EPS) of $0.12, significantly lower than analysts' expectations of $0.91, alongside a revenue of $1.50 billion.
• Institutional investors now hold 68.84% of Coinbase's stock, highlighting their significant influence on the company’s ownership structure.

Resolute Advisors LLC lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 15.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,230 shares of the cryptocurrency exchange's stock after selling 1,500 shares during the period. Coinbase Global makes up approximately 0.4% of Resolute Advisors LLC's investment portfolio, making the stock its 18th largest position. Resolute Advisors LLC's holdings in Coinbase Global were worth $1,417,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. CW Advisors LLC purchased a new position in shares of Coinbase Global during the first quarter worth $638,000. Partners Capital Investment Group LLP purchased a new stake in shares of Coinbase Global in the 1st quarter valued at $320,000. Price T Rowe Associates Inc. MD lifted its stake in Coinbase Global by 2.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 802,229 shares of the cryptocurrency exchange's stock worth $138,168,000 after acquiring an additional 17,153 shares in the last quarter. Candriam S.C.A. boosted its holdings in Coinbase Global by 70.8% during the 1st quarter. Candriam S.C.A. now owns 21,528 shares of the cryptocurrency exchange's stock valued at $3,708,000 after acquiring an additional 8,925 shares during the period. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in Coinbase Global in the 1st quarter valued at about $268,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Up 6.5%

Shares of NASDAQ COIN traded up $19.57 during midday trading on Friday, hitting $319.85. 12,988,273 shares of the company's stock were exchanged, compared to its average volume of 12,145,037. The firm's fifty day simple moving average is $346.00 and its 200-day simple moving average is $262.13. The company has a market cap of $82.18 billion, a PE ratio of 30.93 and a beta of 3.70. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve 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.

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 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned $0.14 earnings per share. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent research reports. Piper Sandler reiterated a "neutral" rating and set a $350.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Compass Point reaffirmed a "sell" rating and set a $248.00 target price (down from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. Citigroup boosted their price target on shares of Coinbase Global from $270.00 to $505.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group boosted their target price on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of "Hold" and a consensus target price of $352.72.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the transaction, the insider owned 82,328 shares in the company, valued at $28,702,833.92. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $326.71, for a total value of $8,167,750.00. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $171,849.46. This trade represents a 97.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,185,704 shares of company stock valued at $438,918,732. Insiders own 17.65% of the company's stock.

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.