Trexquant Investment LP Purchases 108,916 Shares of Coinbase Global, Inc. $COIN

Key Points

• Trexquant Investment LP increased its stake in Coinbase Global by 351.3% after acquiring an additional 108,916 shares, bringing its total ownership to 139,924 shares worth approximately $24.1 million.
• Coinbase Global's latest earnings report showed a loss of $0.79 per share, with revenue of $1.50 billion, falling short of analyst expectations.
• Insider trading activity included significant share sales by CEO Brian Armstrong and insider Lawrence J. Brock, with Brock selling 5,903 shares and Armstrong selling 25,000 shares recently.

Trexquant Investment LP raised its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 351.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 139,924 shares of the cryptocurrency exchange's stock after acquiring an additional 108,916 shares during the period. Trexquant Investment LP owned about 0.06% of Coinbase Global worth $24,099,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of COIN. Groupama Asset Managment raised its stake in shares of Coinbase Global by 100.0% during the 1st 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. raised its stake in shares of Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange's stock worth $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. Nuveen LLC bought a new stake in shares of Coinbase Global during the 1st quarter worth approximately $83,454,000. Two Sigma Advisers LP raised its stake in shares of 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 purchasing an additional 333,600 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of 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 purchasing an additional 302,595 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

Shares of COIN stock opened at $308.97 on Thursday. 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, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a market cap of $79.39 billion, a P/E ratio of 29.88 and a beta of 3.70. The business has a fifty day simple moving average of $348.25 and a 200 day simple moving average of $262.84.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data 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). 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 quarter in the prior year, the company earned $0.14 earnings per share. Coinbase Global's quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on COIN shares. HC Wainwright reiterated a "sell" rating and set a $300.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. Needham & Company LLC boosted their target price on Coinbase Global from $270.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Barclays boosted their target price on Coinbase Global from $352.00 to $365.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. JPMorgan Chase & Co. decreased their target price on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Argus started coverage on Coinbase Global in a report on Monday, July 14th. They set a "buy" rating and a $400.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of "Hold" and an average target price of $352.72.

Insiders Place Their Bets

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the transaction, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $326.71, for a total value of $8,167,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares of the company's stock, valued at $171,849.46. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,195,871 shares of company stock valued at $442,626,576 in the last quarter. Corporate insiders own 17.65% of the company's stock.

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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