UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 86,831 Shares of Coinbase Global, Inc. $COIN

Key Points

• UBS Asset Management increased its stake in Coinbase Global, Inc. by 8.9% during the 1st quarter, acquiring an additional 86,831 shares to reach a total of 1,065,960 shares valued at approximately $183.59 million.
• Coinbase recently reported earnings of $0.12 per share, significantly missing the consensus estimate of $0.91, while its revenue for the quarter was $1.50 billion but fell short of the expected $1.68 billion.
• Research analysts have set varying price targets for Coinbase shares, with estimates ranging from $300 to $470, and the stock currently holds an average rating of "Hold" according to MarketBeat.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 8.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,065,960 shares of the cryptocurrency exchange's stock after buying an additional 86,831 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.42% of Coinbase Global worth $183,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC raised its position in shares of Coinbase Global by 25.8% during the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange's stock valued at $1,478,000 after acquiring an additional 1,761 shares during the last quarter. Arete Wealth Advisors LLC grew its stake in shares of Coinbase Global by 38.8% during the first quarter. Arete Wealth Advisors LLC now owns 8,670 shares of the cryptocurrency exchange's stock worth $1,493,000 after purchasing an additional 2,423 shares during the period. Signature Estate & Investment Advisors LLC increased its holdings in Coinbase Global by 1.1% in the first quarter. Signature Estate & Investment Advisors LLC now owns 6,215 shares of the cryptocurrency exchange's stock valued at $1,070,000 after purchasing an additional 70 shares during the last quarter. CTC Alternative Strategies Ltd. increased its holdings in Coinbase Global by 15.6% in the first quarter. CTC Alternative Strategies Ltd. now owns 4,320 shares of the cryptocurrency exchange's stock valued at $744,000 after purchasing an additional 583 shares during the last quarter. Finally, Tamar Securities LLC lifted its stake in Coinbase Global by 31.6% in the first quarter. Tamar Securities LLC now owns 1,656 shares of the cryptocurrency exchange's stock valued at $285,000 after buying an additional 398 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Down 0.3%

NASDAQ COIN traded down $0.91 during trading hours on Friday, reaching $323.04. 6,910,551 shares of the company's stock were exchanged, compared to its average volume of 7,671,783. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The company has a market capitalization of $83.00 billion, a price-to-earnings ratio of 31.24 and a beta of 3.68. The company's 50-day moving average is $340.68 and its two-hundred day moving average is $267.68. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly 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). 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 during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company earned $0.14 EPS. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on COIN. Wall Street Zen upgraded Coinbase Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Citigroup lifted their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Compass Point reaffirmed a "sell" rating and issued a $248.00 target price (down previously from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. Williams Trading set a $405.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Finally, The Goldman Sachs Group lifted their price target 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. Thirteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and an average target price of $352.72.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $190,732.86. This represents a 99.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 1,180,871 shares of company stock valued at $440,664,276. 23.43% of the stock is currently owned by corporate insiders.

About Coinbase Global

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.