Baader Bank Aktiengesellschaft Has $1.18 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• Baader Bank Aktiengesellschaft reduced its stake in Coinbase Global by 24.6% during the first quarter, selling 2,265 shares and now holds 6,943 shares valued at approximately $1.18 million.
• Coinbase Global's stock price is currently down by 2.1%, with a market capitalization of $94.30 billion and a recent earnings report showing revenue missed estimates at $2.03 billion.
• CEO Brian Armstrong sold a significant 336,265 shares of stock valued at $121.93 million, decreasing his ownership by nearly 99.84%.

Baader Bank Aktiengesellschaft lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 24.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,943 shares of the cryptocurrency exchange's stock after selling 2,265 shares during the period. Baader Bank Aktiengesellschaft's holdings in Coinbase Global were worth $1,180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arkadios Wealth Advisors increased its stake in Coinbase Global by 55.0% during the 1st quarter. Arkadios Wealth Advisors now owns 2,565 shares of the cryptocurrency exchange's stock valued at $442,000 after buying an additional 910 shares during the period. Bayforest Capital Ltd increased its stake in Coinbase Global by 1,745.6% during the 1st quarter. Bayforest Capital Ltd now owns 1,901 shares of the cryptocurrency exchange's stock valued at $327,000 after buying an additional 1,798 shares during the period. Banque Cantonale Vaudoise acquired a new position in Coinbase Global during the 1st quarter valued at about $433,000. Federated Hermes Inc. increased its stake in Coinbase Global by 28.9% during the 1st quarter. Federated Hermes Inc. now owns 193,221 shares of the cryptocurrency exchange's stock valued at $33,278,000 after buying an additional 43,303 shares during the period. Finally, Meeder Advisory Services Inc. increased its stake in Coinbase Global by 17.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,280 shares of the cryptocurrency exchange's stock valued at $565,000 after buying an additional 481 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brian Armstrong sold 198,300 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $209,279.62. This represents a 99.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction dated 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 approximately $28,702,833.92. This trade represents a 10.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,208,340 shares of company stock worth $439,997,456. Corporate insiders own 17.65% of the company's stock.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $6.04 during trading on Wednesday, reaching $377.48. The stock had a trading volume of 11,046,716 shares, compared to its average volume of 12,691,142. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The firm has a market capitalization of $95.83 billion, a price-to-earnings ratio of 70.69, a P/E/G ratio of 26.47 and a beta of 3.70. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $324.49 and a two-hundred day simple moving average of $258.36.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm posted $2.53 EPS. The company's revenue was up 24.2% compared to the same quarter last year. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COIN shares. Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective for the company in a research report on Monday, May 12th. China Renaissance started coverage on shares of Coinbase Global in a research report on Tuesday, June 17th. They set a "buy" rating and a $353.30 price objective for the company. William Blair started coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They set an "outperform" rating for the company. Cantor Fitzgerald started coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price objective for the company. Finally, Canaccord Genuity Group restated a "buy" rating and set a $400.00 price objective on shares of Coinbase Global in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $336.58.

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.