Lauterbach Financial Advisors LLC Buys New Position in Coinbase Global, Inc. $COIN

Key Points

• Lauterbach Financial Advisors LLC acquired 1,113 shares of Coinbase Global, valued at approximately $390,000, during the second quarter, marking a new investment in the cryptocurrency exchange.
• Coinbase Global's stock saw a 6.8% increase, with shares trading at $333.99, and it has a market cap of $85.82 billion, although the company's earnings for the quarter missed expectations.
• Insider trading activity included CEO Brian Armstrong selling 198,300 shares, reducing his position by nearly 99.74%, which raised concerns about internal confidence in the stock's performance.

Lauterbach Financial Advisors LLC bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,113 shares of the cryptocurrency exchange's stock, valued at approximately $390,000.

Several other large investors also recently added to or reduced their stakes in the business. Groupama Asset Managment boosted its position in shares of Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock worth $3,323,084,000 after buying an additional 875,359 shares in the last quarter. Nuveen LLC bought a new position in Coinbase Global during the first quarter valued at $83,454,000. Amundi lifted its position in Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange's stock valued at $268,850,000 after purchasing an additional 481,786 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Coinbase Global by 18,515.4% during the first quarter. GAMMA Investing LLC now owns 193,414 shares of the cryptocurrency exchange's stock valued at $33,312,000 after purchasing an additional 192,375 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Up 6.8%

Shares of Coinbase Global stock opened at $333.99 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The firm's 50-day moving average is $326.71 and its two-hundred day moving average is $277.31. The stock has a market cap of $85.82 billion, a price-to-earnings ratio of 32.30 and a beta of 3.68.

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 (EPS) 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 business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company earned $0.14 earnings per share. The firm's revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian Armstrong sold 198,300 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the transaction, the chief executive officer owned 526 shares of the company's stock, valued at $209,279.62. The trade was a 99.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 15,439 shares of Coinbase Global 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 completion of the transaction, the insider directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 724,515 shares of company stock worth $275,533,175. 23.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on COIN shares. Barclays increased their price objective on shares of Coinbase Global from $352.00 to $365.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. Argus started coverage on shares of Coinbase Global in a research report on Monday, July 14th. They set a "buy" rating and a $400.00 price objective for the company. Erste Group Bank started coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They set a "buy" rating for the company. William Blair started coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They set an "outperform" rating for the company. Finally, Oppenheimer reiterated an "outperform" rating and set a $417.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of "Hold" and a consensus price target of $356.18.

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.

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