Quotient Wealth Partners LLC Buys Shares of 803 Coinbase Global, Inc. $COIN

Key Points

• Quotient Wealth Partners LLC purchased 803 shares of Coinbase Global, valued at approximately $281,000, marking their new stake in the cryptocurrency exchange.
• Coinbase reported disappointing earnings with $0.12 earnings per share, falling short of analyst expectations of $0.91, and revenue of $1.50 billion, below the anticipated $1.68 billion.
• The stock currently enjoys a market cap of $86.34 billion, with notable institutional ownership at around 68.84%.

Quotient Wealth Partners LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 803 shares of the cryptocurrency exchange's stock, valued at approximately $281,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock valued at $3,323,084,000 after acquiring an additional 875,359 shares in the last quarter. ARK Investment Management LLC grew its position in Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange's stock valued at $528,592,000 after acquiring an additional 34,462 shares in the last quarter. Groupama Asset Managment grew its position in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange's stock valued at $516,690,000 after acquiring an additional 1,500,000 shares in the last quarter. Amundi grew 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 in the last quarter. Finally, Northern Trust Corp grew its position in Coinbase Global by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange's stock valued at $224,318,000 after acquiring an additional 7,675 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

COIN stock opened at $336.02 on Monday. The business has a 50 day moving average price of $328.26 and a 200 day moving average price of $294.28. The stock has a market cap of $86.34 billion, a price-to-earnings ratio of 32.50 and a beta of 3.68. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week 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.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion for 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 revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. Equities research 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, CFO Alesia J. Haas sold 4,400 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total value of $1,515,404.00. Following the completion of the sale, the chief financial officer owned 84,820 shares in the company, valued at approximately $29,212,856.20. The trade was a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the sale, the insider owned 82,328 shares of the company's stock, valued at approximately $28,475,608.64. This represents a 10.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 205,657 shares of company stock worth $67,479,576 over the last 90 days. 23.43% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Benchmark lifted their target price on Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Argus assumed coverage on Coinbase Global in a research report on Monday, July 14th. They set a "buy" rating and a $400.00 price objective for the company. Redburn Partners set a $417.00 price objective on Coinbase Global in a research report on Friday, October 3rd. Needham & Company LLC boosted their price objective on Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Piper Sandler reissued a "neutral" rating and set a $350.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. One 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 issued a Sell rating to the stock. According to MarketBeat.com, Coinbase Global currently has an average rating of "Moderate Buy" and a consensus target price of $367.94.

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.

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