Oxinas Partners Wealth Management LLC Invests $384,000 in Coinbase Global, Inc. $COIN

Key Points

• Oxinas Partners Wealth Management LLC invested $384,000 to acquire 1,097 shares of Coinbase Global, Inc. during the second quarter.
• CEO Brian Armstrong sold 198,300 shares of Coinbase stock for over $78 million, representing a significant reduction of his ownership by 99.74%.
• Coinbase Global's recent earnings report indicated an earnings per share (EPS) of $0.12, missing predictions by $0.79, with a revenue of $1.50 billion.

Oxinas Partners Wealth Management LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,097 shares of the cryptocurrency exchange's stock, valued at approximately $384,000.

Other large investors have also recently bought and sold shares of the company. Groupama Asset Managment increased its stake in Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after purchasing an additional 1,500,000 shares during the period. Vanguard Group Inc. grew its holdings in shares of Coinbase Global by 4.8% during 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 during the last quarter. Nuveen LLC acquired a new position in Coinbase Global in the 1st quarter valued at about $83,454,000. Amundi increased its position in Coinbase Global by 44.1% in 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 raised its stake in Coinbase Global by 1,159.9% during the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after acquiring an additional 302,595 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

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 transaction of $78,897,621.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $209,279.62. This trade represents a 99.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $4,798,441.20. Following the sale, the insider directly owned 82,328 shares in the company, valued at $25,587,542.40. This trade represents a 15.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 749,515 shares of company stock valued at $283,990,425. 17.65% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research note on Monday, August 4th. Oppenheimer reaffirmed an "outperform" rating and set a $417.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. China Renaissance started coverage on shares of Coinbase Global in a research report on Tuesday, June 17th. They issued a "buy" rating and a $353.30 price objective on the stock. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Finally, Benchmark raised their target price on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Thirteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $356.18.

Coinbase Global Price Performance

Coinbase Global stock opened at $321.77 on Thursday. The company has a market cap of $82.68 billion, a P/E ratio of 31.12 and a beta of 3.68. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The business has a fifty day moving average of $332.53 and a two-hundred day moving average of $273.28. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the business earned $0.14 EPS. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.