Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by EULAV Asset Management

EULAV Asset Management increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 32.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,005 shares of the cryptocurrency exchange's stock after buying an additional 18,998 shares during the period. EULAV Asset Management's holdings in Coinbase Global were worth $13,263,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in COIN. Jones Financial Companies Lllp increased its stake in Coinbase Global by 125.8% during the 4th quarter. Jones Financial Companies Lllp now owns 490 shares of the cryptocurrency exchange's stock worth $122,000 after buying an additional 273 shares during the period. Victory Capital Management Inc. increased its stake in Coinbase Global by 10.9% during the 4th quarter. Victory Capital Management Inc. now owns 71,933 shares of the cryptocurrency exchange's stock worth $17,861,000 after buying an additional 7,096 shares during the period. Assetmark Inc. increased its stake in Coinbase Global by 27.0% during the 4th quarter. Assetmark Inc. now owns 3,657 shares of the cryptocurrency exchange's stock worth $908,000 after buying an additional 778 shares during the period. M&T Bank Corp increased its stake in Coinbase Global by 23.4% during the 4th quarter. M&T Bank Corp now owns 8,760 shares of the cryptocurrency exchange's stock worth $2,175,000 after buying an additional 1,660 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in Coinbase Global by 23.9% during the 4th quarter. Proficio Capital Partners LLC now owns 1,685 shares of the cryptocurrency exchange's stock worth $418,000 after buying an additional 325 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of COIN traded down $2.28 during trading hours on Tuesday, reaching $354.82. The company had a trading volume of 9,589,781 shares, compared to its average volume of 10,795,213. The firm has a 50 day simple moving average of $268.27 and a 200-day simple moving average of $243.30. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $90.08 billion, a price-to-earnings ratio of 50.87, a PEG ratio of 26.12 and a beta of 3.70. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $382.00.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly 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). The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 EPS. Research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 336,265 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $190,732.86. This trade represents a 99.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the transaction, the director owned 10,417 shares of the company's stock, valued at $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 685,915 shares of company stock valued at $222,081,432 in the last quarter. Insiders own 23.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on COIN. Barclays increased their price objective on shares of Coinbase Global from $169.00 to $202.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Piper Sandler upped their price objective on Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Jefferies Financial Group reiterated a "hold" rating and issued a $260.00 price objective (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. Benchmark boosted their target price on Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Compass Point raised Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a report on Monday, May 12th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $293.74.

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.