Mn Services Vermogensbeheer B.V. Grows Stock Holdings in Coinbase Global, Inc. $COIN

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Coinbase Global, Inc. by 18.8%, acquiring an additional 11,800 shares, resulting in a total holding of 74,600 shares valued at approximately $26.1 million.
• Coinbase reported a loss of $0.79 per share for the last quarter, missing analysts' expectations of $0.91, while its revenue was $1.50 billion, which was below the forecast of $1.68 billion.
• Coinbase has seen a surge in institutional investment, with 68.84% of its stock owned by institutional investors, and recent analyst upgrades have set price targets as high as $440.00.

Mn Services Vermogensbeheer B.V. increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 18.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,600 shares of the cryptocurrency exchange's stock after buying an additional 11,800 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Coinbase Global were worth $26,147,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in COIN. Groupama Asset Managment grew its stake in shares of Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock worth $516,690,000 after buying an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. grew its position in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock worth $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. Nuveen LLC bought a new stake in Coinbase Global in the 1st quarter worth about $83,454,000. Amundi grew its position in shares of Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange's stock valued at $268,850,000 after acquiring an additional 481,786 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock worth $81,612,000 after purchasing an additional 302,595 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Down 0.2%

Shares of COIN traded down $0.67 during trading on Friday, reaching $342.46. The company's stock had a trading volume of 13,258,226 shares, compared to its average volume of 8,028,650. The company has a fifty day moving average of $336.66 and a two-hundred day moving average of $271.41. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a market cap of $87.99 billion, a price-to-earnings ratio of 33.12 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued 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 company 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. Coinbase Global's quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays raised their price target on shares of Coinbase Global from $352.00 to $365.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. Mizuho set a $300.00 target price on shares of Coinbase Global in a research report on Thursday. Rosenblatt Securities reissued a "buy" rating and issued a $470.00 target price on shares of Coinbase Global in a report on Friday, August 1st. JMP Securities boosted their price objective on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Finally, Compass Point restated a "sell" rating and issued a $248.00 price target (down from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. 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. According to data from MarketBeat.com, Coinbase Global has an average rating of "Hold" and an average target price of $356.18.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $304.52, for a total transaction of $3,045,200.00. Following the transaction, the insider directly owned 82,328 shares in the company, valued at approximately $25,070,522.56. The trade was a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lawrence J. Brock sold 5,903 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the sale, the insider owned 478 shares in the company, valued at $148,834.86. The trade was a 92.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,202,515 shares of company stock worth $448,306,941 in the last 90 days. Insiders own 17.65% of the company's stock.

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.