Vanguard Personalized Indexing Management LLC Buys 7,682 Shares of Coinbase Global, Inc. $COIN

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Coinbase Global, buying 7,682 shares and raising its ownership by 41.9%, bringing its total to 26,026 shares valued at approximately $9.12 million.
• Coinbase Global's stock has seen a decline of 7.7%, currently trading at around $357.01, but the company reported a net margin of 40.87% despite missing earnings forecasts.
• Insider trading activity includes significant sales, with insiders having unloaded over 556,000 shares worth approximately $208 million in the last quarter.

Vanguard Personalized Indexing Management LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 41.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,026 shares of the cryptocurrency exchange's stock after buying an additional 7,682 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Coinbase Global were worth $9,122,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock valued at $8,861,000 after buying an additional 9,952 shares in the last quarter. Amalgamated Bank raised its holdings in Coinbase Global by 4.8% during the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock valued at $2,368,000 after buying an additional 629 shares in the last quarter. Kera Capital Partners Inc. raised its holdings in Coinbase Global by 3.0% during the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange's stock valued at $12,954,000 after buying an additional 1,085 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Coinbase Global by 102.6% in the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange's stock valued at $3,738,000 after purchasing an additional 5,402 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock valued at $193,000 after purchasing an additional 84 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Down 7.7%

NASDAQ COIN opened at $357.01 on Monday. 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 firm has a 50-day simple moving average of $325.06 and a 200 day simple moving average of $288.49. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The stock has a market cap of $91.73 billion, a PE ratio of 34.53 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released 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). 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 the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business posted $0.14 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. Bank of America lowered their price target on Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. The Goldman Sachs Group raised their price target on Coinbase Global from $351.00 to $363.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Mizuho set a $300.00 price target on Coinbase Global in a research report on Thursday, September 18th. Finally, Needham & Company LLC raised their price target on Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of "Moderate Buy" and an average price target of $367.12.

Insiders Place Their Bets

In related news, CAO Jennifer N. Jones sold 1,756 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $300.52, for a total value of $527,713.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the sale, the insider owned 478 shares of the company's stock, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 556,321 shares of company stock valued at $208,110,150 in the last quarter. 23.43% of the stock is currently owned by insiders.

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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