Coinbase Global, Inc. $COIN Stake Boosted by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Coinbase Global, Inc. by 84.0%, owning 257,217 shares valued at approximately $90.15 million as of its latest SEC filing.
• Coinbase recently reported a net loss of $0.12 EPS for the quarter, underperforming analysts' expectations of $0.91, with revenue totaling $1.50 billion, compared to an estimate of $1.68 billion.
• Despite the challenges, BTIG Research started coverage with a "buy" rating and a price target of $410.00, while a consensus of analysts has rated the stock as a "Hold" with a price target of $359.49.

Robeco Institutional Asset Management B.V. grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 84.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 257,217 shares of the cryptocurrency exchange's stock after acquiring an additional 117,405 shares during the period. Robeco Institutional Asset Management B.V. owned 0.10% of Coinbase Global worth $90,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after acquiring an additional 113 shares in the last quarter. North Star Investment Management Corp. purchased a new position in shares of Coinbase Global during the 2nd quarter valued at $55,000. McClarren Financial Advisors Inc. purchased a new position in shares of Coinbase Global during the 1st quarter valued at $30,000. S Bank Fund Management Ltd purchased a new position in shares of Coinbase Global during the 1st quarter valued at $31,000. Finally, SouthState Corp grew its holdings in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange's stock valued at $32,000 after acquiring an additional 104 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COIN. BTIG Research began coverage on shares of Coinbase Global in a report on Wednesday. They issued a "buy" rating and a $410.00 price objective for the company. Oppenheimer reiterated an "outperform" rating and issued a $417.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. Monness Crespi & Hardt cut shares of Coinbase Global from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Jefferies Financial Group upped their price objective on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Finally, Barclays upped their price objective on shares of Coinbase Global from $352.00 to $365.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. Fourteen 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's stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of "Hold" and a consensus price target of $359.49.

Insiders Place Their Bets

In related news, insider Lawrence J. Brock sold 5,903 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the sale, the insider owned 478 shares of the company's stock, valued at $148,834.86. The trade was a 92.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jennifer N. Jones sold 1,756 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $300.52, for a total transaction of $527,713.12. The disclosure for this sale can be found here. Insiders have sold a total of 714,515 shares of company stock valued at $272,046,775 over the last 90 days. Company insiders own 17.65% of the company's stock.

Coinbase Global Stock Up 7.5%

Shares of COIN opened at $372.07 on Friday. The company has a 50-day simple moving average of $323.85 and a 200-day simple moving average of $279.47. The firm has a market capitalization of $95.60 billion, a P/E ratio of 35.98 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The company 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 EPS. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global 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.

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