Partners Capital Investment Group LLP Makes New $320,000 Investment in Coinbase Global, Inc. $COIN

Key Points

• Partners Capital Investment Group LLP has made a new investment of approximately $320,000 in Coinbase Global, Inc. by acquiring 1,858 shares of the cryptocurrency exchange's stock.
• Several institutional investors significantly increased their holdings in Coinbase Global, with Groupama Asset Management boosting its stake by 100% and Vanguard Group increasing its stake by 4.8% in the first quarter.
• Although Coinbase reported earnings of $0.12 EPS for the last quarter—falling short of estimates—analysts have mixed ratings with 13 Buy ratings, 10 Hold ratings, and 2 Sell ratings on the stock.

Partners Capital Investment Group LLP acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,858 shares of the cryptocurrency exchange's stock, valued at approximately $320,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Groupama Asset Managment boosted 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 worth $516,690,000 after purchasing an additional 1,500,000 shares in the last quarter. Vanguard Group Inc. increased its stake 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 valued at $3,323,084,000 after buying an additional 875,359 shares in the last quarter. Nuveen LLC bought a new position in shares of Coinbase Global in the first quarter valued at about $83,454,000. Two Sigma Advisers LP lifted its position in Coinbase Global by 445.4% during the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock worth $101,431,000 after buying an additional 333,600 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position 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 worth $81,612,000 after buying an additional 302,595 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COIN. Barclays raised 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. Piper Sandler restated a "neutral" rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. China Renaissance assumed coverage on Coinbase Global in a report on Tuesday, June 17th. They set a "buy" rating and a $353.30 price objective on the stock. The Goldman Sachs Group lifted their target price on Coinbase Global from $239.00 to $268.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. Finally, Erste Group Bank assumed coverage on Coinbase Global in a research report on Wednesday, July 23rd. They set a "buy" rating for the company. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of "Hold" and a consensus price target of $352.72.

Coinbase Global Stock Performance

COIN stock opened at $300.28 on Friday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a market cap of $77.15 billion, a P/E ratio of 29.04 and a beta of 3.70. The business's fifty day moving average is $344.45 and its 200-day moving average is $261.85.

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

Insider Activity

In other news, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at $190,732.86. This represents a 99.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 1,185,704 shares of company stock worth $438,918,732. 17.65% of the stock is currently owned by 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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