Mizuho Markets Americas LLC Sells 25,842 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• Mizuho Markets Americas LLC has reduced its stake in Coinbase Global, Inc. by 12.4%, now owning 183,166 shares worth approximately $31.5 million as of the latest filing.
• Coinbase reported a quarterly net income of $0.12 EPS, falling short of analyst expectations of $0.91, with revenues also below projections at $1.50 billion.
• Analyst ratings for Coinbase vary widely, with a consensus target price of $352.18, highlighting the market's mixed sentiment on its future performance.

Mizuho Markets Americas LLC lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 12.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 183,166 shares of the cryptocurrency exchange's stock after selling 25,842 shares during the period. Mizuho Markets Americas LLC owned 0.07% of Coinbase Global worth $31,547,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Koss Olinger Consulting LLC purchased a new stake in shares of Coinbase Global during the 1st quarter worth approximately $700,000. Townsquare Capital LLC grew its stake in Coinbase Global by 28.0% in the 1st quarter. Townsquare Capital LLC now owns 6,792 shares of the cryptocurrency exchange's stock valued at $1,170,000 after buying an additional 1,484 shares in the last quarter. Sloy Dahl & Holst LLC grew its stake in Coinbase Global by 53.0% in the 1st quarter. Sloy Dahl & Holst LLC now owns 94,091 shares of the cryptocurrency exchange's stock valued at $16,205,000 after buying an additional 32,598 shares in the last quarter. Savvy Advisors Inc. grew its stake in Coinbase Global by 51.8% in the 1st quarter. Savvy Advisors Inc. now owns 3,351 shares of the cryptocurrency exchange's stock valued at $577,000 after buying an additional 1,144 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Coinbase Global by 8.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 166,843 shares of the cryptocurrency exchange's stock valued at $28,735,000 after buying an additional 12,495 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded down $0.25 during mid-day trading on Friday, reaching $310.54. 9,219,479 shares of the company were exchanged, compared to its average volume of 15,007,430. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $79.79 billion, a PE ratio of 30.03, a PEG ratio of 26.87 and a beta of 3.70. The company's 50 day moving average price is $332.88 and its 200 day moving average price is $260.08.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.02% and a net margin of 40.87%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COIN shares. Rosenblatt Securities reiterated a "buy" rating and issued a $470.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. Sanford C. Bernstein lifted their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Piper Sandler reiterated a "neutral" rating and issued a $350.00 price objective on shares of Coinbase Global in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of Coinbase Global from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $352.18.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total value of $3,486,400.00. Following the completion of the sale, the insider directly owned 82,328 shares of the company's stock, valued at $28,702,833.92. The trade was a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $317.09, for a total transaction of $7,927,250.00. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at $166,789.34. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,208,340 shares of company stock valued at $442,911,206. 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.