Coinbase Global, Inc. $COIN Shares Acquired by Groupama Asset Managment

Key Points

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Groupama Asset Managment boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 100.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,000,000 shares of the cryptocurrency exchange's stock after acquiring an additional 1,500,000 shares during the period. Coinbase Global comprises about 4.1% of Groupama Asset Managment's investment portfolio, making the stock its 4th biggest holding. Groupama Asset Managment owned about 1.18% of Coinbase Global worth $516,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Vivaldi Capital Management LP lifted its holdings in Coinbase Global by 0.3% in the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock worth $3,437,000 after acquiring an additional 47 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Coinbase Global by 7.1% during the first quarter. Brooklyn Investment Group now owns 720 shares of the cryptocurrency exchange's stock valued at $124,000 after buying an additional 48 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Coinbase Global by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock valued at $2,746,000 after buying an additional 55 shares during the last quarter. Callan Capital LLC raised its holdings in shares of Coinbase Global by 5.1% during the first quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange's stock valued at $215,000 after buying an additional 61 shares during the last quarter. Finally, TRU Independence Asset Management 2 LLC raised its holdings in shares of Coinbase Global by 2.7% during the first quarter. TRU Independence Asset Management 2 LLC now owns 2,493 shares of the cryptocurrency exchange's stock valued at $429,000 after buying an additional 65 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Up 6.5%

NASDAQ COIN traded up $19.57 on Friday, hitting $319.85. 12,988,273 shares of the stock were exchanged, compared to its average volume of 12,145,037. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The company has a market capitalization of $82.18 billion, a price-to-earnings ratio of 30.93 and a beta of 3.70. The company's 50-day moving average price is $346.00 and its two-hundred day moving average price is $262.13.

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 for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of Coinbase Global stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $190,732.86. The trade was a 99.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 1,185,704 shares of company stock worth $438,918,732. Insiders own 17.65% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COIN. Canaccord Genuity Group reaffirmed a "buy" rating and set a $400.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Barclays lifted their price target on Coinbase Global from $352.00 to $365.00 and gave the company an "equal weight" rating in a report on Friday, August 15th. Argus assumed coverage on Coinbase Global in a report on Monday, July 14th. They set a "buy" rating and a $400.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC boosted their target price on Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Thirteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Coinbase Global has a consensus rating of "Hold" and an average price target of $352.72.

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.