Northern Trust Corp Purchases 7,675 Shares of Coinbase Global, Inc. $COIN

Key Points

• Northern Trust Corp increased its stake in Coinbase Global by 0.6%, owning 1,302,433 shares valued at approximately $224 million by the end of the latest quarter.
• Coinbase Global reported earnings of $0.12 per share, significantly missing analysts' expectations of $0.91, with a quarterly revenue of $1.50 billion compared to anticipated $1.68 billion.
• CEO Brian Armstrong sold 25,000 shares of Coinbase stock at an average price of $326.71, marking a dramatic 97.94% decrease in his ownership of the stock.

Northern Trust Corp boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,302,433 shares of the cryptocurrency exchange's stock after purchasing an additional 7,675 shares during the period. Northern Trust Corp owned about 0.51% of Coinbase Global worth $224,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of COIN. GeoWealth Management LLC lifted its position in Coinbase Global by 20.2% during the fourth quarter. GeoWealth Management LLC now owns 423 shares of the cryptocurrency exchange's stock valued at $105,000 after purchasing an additional 71 shares in the last quarter. First Trust Advisors LP lifted its position in Coinbase Global by 33.8% during the fourth quarter. First Trust Advisors LP now owns 162,635 shares of the cryptocurrency exchange's stock valued at $40,382,000 after purchasing an additional 41,115 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Coinbase Global by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 408,170 shares of the cryptocurrency exchange's stock valued at $101,392,000 after purchasing an additional 7,834 shares in the last quarter. MetLife Investment Management LLC lifted its position in 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 purchasing an additional 55 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in Coinbase Global by 16.8% during the fourth quarter. MML Investors Services LLC now owns 14,659 shares of the cryptocurrency exchange's stock valued at $3,640,000 after purchasing an additional 2,109 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $300.28 on Friday. The stock's 50-day simple moving average is $344.45 and its 200-day simple moving average is $261.85. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a market capitalization of $77.15 billion, a price-to-earnings ratio of 29.04 and a beta of 3.70. 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 posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 16.02% and a net margin of 40.87%.Coinbase Global's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COIN. Wall Street Zen upgraded Coinbase Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Williams Trading set a $405.00 target price on Coinbase Global in a research report on Thursday, July 31st. Compass Point reiterated a "sell" rating and set a $248.00 target price (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Rosenblatt Securities restated a "buy" rating and issued a $470.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. Finally, Monness Crespi & Hardt downgraded Coinbase Global from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Thirteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Coinbase Global currently has a consensus rating of "Hold" and a consensus target price of $352.72.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $326.71, for a total value of $8,167,750.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $171,849.46. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total value of $3,486,400.00. Following the completion of the sale, the insider owned 82,328 shares in the company, valued at $28,702,833.92. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,185,704 shares of company stock worth $438,918,732 over the last quarter. 17.65% of the stock is owned by company insiders.

Coinbase Global 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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