Fox Hill Wealth Management Takes $325,000 Position in Coinbase Global, Inc. $COIN

Key Points

• Fox Hill Wealth Management invested $325,000 in Coinbase Global, acquiring 926 shares of the cryptocurrency exchange's stock during the second quarter.
• Institutional investors collectively own 68.84% of Coinbase Global, with significant stake increases reported by firms like Groupama and Vanguard.
• Coinbase recently missed earnings expectations, posting $0.12 earnings per share, below the consensus estimate of $0.91, while its revenue was also below projections at $1.50 billion.

Fox Hill Wealth Management acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 926 shares of the cryptocurrency exchange's stock, valued at approximately $325,000.

A number of other hedge funds also recently made changes to their positions in COIN. Mascagni Wealth Management Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $26,000. Bessemer Group Inc. increased its stake in shares of 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 buying an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Coinbase Global in the first quarter worth $30,000. Finally, S Bank Fund Management Ltd bought a new stake in shares of Coinbase Global in the first quarter worth $31,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity

In other news, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares of the company's stock, valued at approximately $190,732.86. The trade was a 99.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,180,871 shares of company stock worth $440,664,276 over the last three months. Insiders own 23.43% of the company's stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of research analyst reports. Monness Crespi & Hardt lowered shares of Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Benchmark lifted their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Wall Street Zen upgraded shares of Coinbase Global from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Argus initiated coverage on shares of Coinbase Global in a research note on Monday, July 14th. They issued a "buy" rating and a $400.00 price target for the company. Finally, Compass Point restated a "sell" rating and issued a $248.00 price target (down previously from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $352.72.

Coinbase Global Stock Performance

Coinbase Global stock traded down $0.91 during mid-day trading on Friday, reaching $323.04. The company's stock had a trading volume of 6,910,551 shares, compared to its average volume of 7,671,783. The firm has a market cap of $83.00 billion, a price-to-earnings ratio of 31.24 and a beta of 3.68. The business has a 50 day moving average price of $340.68 and a 200-day moving average price of $267.68. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released 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). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the firm earned $0.14 EPS. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.