Polianta Ltd Buys Shares of 5,200 Coinbase Global, Inc. $COIN

Key Points

• Polianta Ltd has acquired a $1.82 million position in Coinbase Global, Inc., purchasing 5,200 shares, which makes up about 0.8% of Polianta's total holdings.
• Several institutional investors, such as **Vista Investment Partners LLC** and **Swedbank AB**, have also adjusted their positions in Coinbase during the 2nd quarter, indicating a growing interest from hedge funds.
• Coinbase reported disappointing earnings, with Q2 results showing **$0.12 earnings per share**, significantly below the consensus estimate of **$0.91**, alongside a revenue decline compared to expectations.

Polianta Ltd bought a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,200 shares of the cryptocurrency exchange's stock, valued at approximately $1,822,000. Coinbase Global comprises approximately 0.8% of Polianta Ltd's portfolio, making the stock its 16th largest position.

A number of other hedge funds have also made changes to their positions in COIN. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global during the fourth quarter valued at approximately $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global during the 4th quarter worth about $26,000. Bessemer Group Inc. increased its stake in Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after acquiring an additional 113 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Coinbase Global in the first quarter valued at about $30,000. Finally, S Bank Fund Management Ltd acquired a new position in Coinbase Global in the first quarter valued at about $31,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Performance

NASDAQ:COIN traded down $0.67 during mid-day trading on Friday, reaching $342.46. 13,258,226 shares of the company's stock were exchanged, compared to its average volume of 8,028,650. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The firm has a market capitalization of $87.99 billion, a PE ratio of 33.12 and a beta of 3.68. The business's fifty day simple moving average is $336.66 and its two-hundred day simple moving average is $271.41. 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 released its quarterly 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). 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 period in the prior year, the business posted $0.14 earnings per share. Coinbase Global's revenue was up 3.3% compared to the same quarter last year. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at $190,732.86. This trade represents a 99.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 1,202,515 shares of company stock valued at $448,306,941. 17.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of recent analyst reports. William Blair initiated coverage on shares of Coinbase Global in a research report on Wednesday, June 11th. They issued an "outperform" rating on the stock. HC Wainwright restated a "sell" rating and issued a $300.00 price target on shares of Coinbase Global in a research report on Friday, August 1st. The Goldman Sachs Group upped their target price on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Benchmark upped their target price on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Jefferies Financial Group upped their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Coinbase Global presently has an average rating of "Hold" and an average 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.