Cwm LLC Purchases 2,664 Shares of Coinbase Global, Inc. $COIN

Key Points

• Cwm LLC increased its stake in Coinbase Global, Inc. by 41.4% in Q2, owning a total of 9,103 shares worth approximately $3.19 million.
• Coinbase's latest earnings report showed an EPS of $0.12, missing estimates of $0.91, with quarterly revenue of $1.50 billion compared to expected $1.68 billion.
• Current institutional ownership of Coinbase stock stands at 68.84%, with notable recent investments and ownership fluctuations among hedge funds and executives.

Cwm LLC increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 41.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,103 shares of the cryptocurrency exchange's stock after purchasing an additional 2,664 shares during the quarter. Cwm LLC's holdings in Coinbase Global were worth $3,191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in Coinbase Global by 297.4% in 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 during the period. North Star Investment Management Corp. bought a new position in shares of Coinbase Global during the second quarter valued at $55,000. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global during the first quarter valued at $30,000. S Bank Fund Management Ltd bought a new position in shares of Coinbase Global during the first quarter valued at $31,000. Finally, Ameriflex Group Inc. lifted its holdings in shares of Coinbase Global by 20.0% during the second quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange's stock valued at $68,000 after acquiring an additional 30 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Coinbase Global stock opened at $336.02 on Friday. The stock has a 50-day simple moving average of $328.26 and a 200 day simple moving average of $292.66. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The stock has a market capitalization of $86.34 billion, a price-to-earnings ratio of 32.50 and a beta of 3.68.

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 firm had revenue of $1.50 billion during 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%.Coinbase Global's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. On average, research analysts anticipate 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 have issued reports on COIN shares. Sanford C. Bernstein lifted their price objective on Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Monness Crespi & Hardt cut Coinbase Global from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Erste Group Bank started coverage on Coinbase Global in a report on Wednesday, July 23rd. They set a "buy" rating for the company. Argus assumed coverage on Coinbase Global in a report on Monday, July 14th. They set a "buy" rating and a $400.00 price objective for the company. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $400.00 price target on shares of Coinbase Global in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $367.94.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the sale, the insider directly owned 82,328 shares in the company, valued at $28,475,608.64. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00. Following the completion of the sale, the chief executive officer owned 526 shares of the company's stock, valued at approximately $190,054.32. The trade was a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 205,657 shares of company stock worth $67,479,576 over the last three months. 17.65% of the stock is currently owned by company insiders.

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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