Privium Fund Management B.V. Makes New $24.19 Million Investment in Coinbase Global, Inc. $COIN

Key Points

• Privium Fund Management B.V. has made a significant investment of $24.19 million in Coinbase Global, acquiring 70,000 shares, which now constitute 5.2% of its investment portfolio.
• Insider transactions revealed that CEO Brian Armstrong sold 25,000 shares of Coinbase for approximately $9 million, significantly reducing his holdings.
• Coinbase's stock has seen fluctuations with a current price around $343.78, and analysts have varying target prices, ranging from $300.00 to $510.00.

Privium Fund Management B.V. purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 70,000 shares of the cryptocurrency exchange's stock, valued at approximately $24,186,000. Coinbase Global accounts for 5.2% of Privium Fund Management B.V.'s investment portfolio, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock worth $193,000 after buying an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Coinbase Global by 40.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,852 shares of the cryptocurrency exchange's stock worth $2,213,000 after purchasing an additional 3,695 shares in the last quarter. Sowell Financial Services LLC acquired a new position in shares of Coinbase Global during the first quarter valued at $243,000. PFG Investments LLC raised its stake in shares of Coinbase Global by 31.1% during the first quarter. PFG Investments LLC now owns 2,396 shares of the cryptocurrency exchange's stock valued at $413,000 after purchasing an additional 569 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in Coinbase Global in the first quarter worth about $2,382,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the transaction, the insider owned 82,328 shares in the company, valued at $28,475,608.64. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at $190,054.32. This represents a 97.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 205,657 shares of company stock valued at $67,479,576 over the last three months. Company insiders own 23.43% of the company's stock.

Coinbase Global Stock Up 2.3%

COIN stock opened at $343.78 on Tuesday. The firm has a market cap of $88.33 billion, a PE ratio of 33.25 and a beta of 3.68. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The firm has a 50 day simple moving average of $328.75 and a 200 day simple moving average of $295.56.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm posted $0.14 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research analyst reports. HC Wainwright reissued a "sell" rating and set a $300.00 target price on shares of Coinbase Global in a research note on Friday, August 1st. Williams Trading set a $405.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. BTIG Research began coverage on Coinbase Global in a report on Wednesday, October 1st. They set a "buy" rating and a $410.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a research report on Monday, August 4th. Finally, Sanford C. Bernstein increased their price target on Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $369.01.

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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