Landscape Capital Management L.L.C. Makes New Investment in Coinbase Global, Inc. $COIN

Key Points

• Landscape Capital Management L.L.C. has acquired a new position in Coinbase Global, Inc., purchasing 18,238 shares valued at approximately $3.14 million in the first quarter.
• Coinbase reported a net loss of $0.12 earnings per share for the latest quarter, missing analyst estimates of $0.91, with revenue of $1.50 billion compared to expectations of $1.68 billion.
• Coinbase's stock is currently rated as a "Hold" with a consensus price target of $352.72, following recent upgrades and changes in price targets from various equity research analysts.

Landscape Capital Management L.L.C. acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 18,238 shares of the cryptocurrency exchange's stock, valued at approximately $3,141,000.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its position in Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock valued at $8,861,000 after acquiring an additional 9,952 shares during the last quarter. Amalgamated Bank increased its position in shares of Coinbase Global by 4.8% during the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock worth $2,368,000 after purchasing an additional 629 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock valued at $193,000 after purchasing an additional 84 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Coinbase Global by 124.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock valued at $453,000 after purchasing an additional 1,454 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its position in shares of Coinbase Global by 87.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock valued at $578,000 after purchasing an additional 1,561 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 0.2%

Shares of Coinbase Global stock opened at $308.47 on Friday. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company has a market cap of $79.26 billion, a P/E ratio of 29.83 and a beta of 3.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The firm has a fifty day moving average of $348.51 and a two-hundred day moving average of $263.03.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results 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). The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the transaction, the insider owned 82,328 shares in the company, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jennifer N. Jones sold 1,756 shares of Coinbase Global stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $300.52, for a total value of $527,713.12. The disclosure for this sale can be found here. Insiders sold a total of 1,195,871 shares of company stock worth $442,626,576 over the last quarter. 17.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays boosted their price objective on Coinbase Global from $352.00 to $365.00 and gave the company an "equal weight" rating in a research note on Friday, August 15th. Needham & Company LLC upped their price target on shares of Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, August 1st. HC Wainwright reissued a "sell" rating and set a $300.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Citigroup lifted their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Argus started coverage on shares of Coinbase Global in a research note on Monday, July 14th. They set a "buy" rating and a $400.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $352.72.

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.

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