Sivia Capital Partners LLC Makes New $285,000 Investment in Coinbase Global, Inc. $COIN

Key Points

• Sivia Capital Partners LLC purchased a new stake in Coinbase Global, acquiring 813 shares valued at approximately $285,000 in the 2nd quarter.
• CEO Brian Armstrong sold 336,265 shares of Coinbase stock, representing a 99.84% decrease in his ownership, with total sales this quarter reaching 1.2 million shares worth nearly $448.3 million.
• Coinbase reported a miss in earnings for the last quarter, with an EPS of $0.12 compared to the expected $0.91, leading to a revenue of $1.50 billion against a consensus estimate of $1.68 billion.

Sivia Capital Partners LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 813 shares of the cryptocurrency exchange's stock, valued at approximately $285,000.

A number of other institutional investors have also bought and sold shares of COIN. Envestnet Asset Management Inc. boosted its position in shares of Coinbase Global by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock worth $8,861,000 after purchasing an additional 9,952 shares in the last quarter. Amalgamated Bank lifted its position in Coinbase Global by 4.8% in the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock valued at $2,368,000 after acquiring an additional 629 shares in the last quarter. Kera Capital Partners Inc. increased its stake in shares of Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange's stock worth $12,954,000 after purchasing an additional 1,085 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Coinbase Global by 102.6% during the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange's stock worth $3,738,000 after purchasing an additional 5,402 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Coinbase Global by 8.1% during the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock worth $193,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Needham & Company LLC lifted their price objective on shares of Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Sanford C. Bernstein lifted their price objective on shares of Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Canaccord Genuity Group reiterated a "buy" rating and issued a $400.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. Compass Point restated a "sell" rating and set a $248.00 price target (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Finally, Erste Group Bank assumed coverage on shares of Coinbase Global in a research note on Wednesday, July 23rd. They issued a "buy" rating for the company. Thirteen research analysts have rated the stock with a Buy rating, ten have given 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 an average price target of $356.18.

Coinbase Global Trading Down 3.2%

Shares of COIN stock traded down $10.85 during mid-day trading on Monday, reaching $331.61. The stock had a trading volume of 4,466,903 shares, compared to its average volume of 11,182,867. The stock's 50-day moving average price is $336.66 and its two-hundred day moving average price is $271.81. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The firm has a market capitalization of $85.20 billion, a PE ratio of 32.07 and a beta of 3.68. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the firm earned $0.14 EPS. Coinbase Global's quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $190,732.86. The trade was a 99.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,202,515 shares of company stock worth $448,306,941 in the last 90 days. 23.43% of the stock is owned by insiders.

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.