Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by IPG Investment Advisors LLC

IPG Investment Advisors LLC trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,972 shares of the cryptocurrency exchange’s stock after selling 289 shares during the period. IPG Investment Advisors LLC’s holdings in Coinbase Global were worth $340,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. ARK Investment Management LLC grew its holdings in Coinbase Global by 1.1% during the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after acquiring an additional 34,462 shares in the last quarter. Northern Trust Corp grew its holdings in Coinbase Global by 20.3% during the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock worth $321,488,000 after acquiring an additional 218,400 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Coinbase Global by 29.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 979,129 shares of the cryptocurrency exchange’s stock worth $243,118,000 after acquiring an additional 222,789 shares in the last quarter. Ribbit Management Company LLC grew its holdings in Coinbase Global by 33.9% during the 4th quarter. Ribbit Management Company LLC now owns 527,600 shares of the cryptocurrency exchange’s stock worth $131,003,000 after acquiring an additional 133,500 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Coinbase Global by 26.1% during the 4th quarter. Invesco Ltd. now owns 445,736 shares of the cryptocurrency exchange’s stock worth $110,676,000 after acquiring an additional 92,371 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on COIN. Monness Crespi & Hardt downgraded shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Benchmark raised their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Piper Sandler restated a “neutral” rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Thursday. Williams Trading set a $405.00 price target on shares of Coinbase Global in a research report on Thursday. Finally, Argus initiated coverage on shares of Coinbase Global in a research report on Monday, July 14th. They issued a “buy” rating and a $400.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Coinbase Global has an average rating of “Hold” and a consensus target price of $344.55.

Coinbase Global Stock Performance

Coinbase Global stock opened at $314.69 on Monday. The firm’s 50 day simple moving average is $327.63 and its 200-day simple moving average is $259.38. The company has a market cap of $79.89 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 21.92 and a beta of 3.70. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64.

Coinbase Global (NASDAQ:COIN) 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). The firm had revenue of $1.50 billion during 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%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.14 earnings per share. As a group, equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the transaction, the chief financial officer owned 97,366 shares of the company’s stock, valued at approximately $35,071,233.20. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the completion of the sale, the insider directly owned 82,328 shares in the company, valued at $28,702,833.92. This trade represents a 10.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,183,340 shares of company stock worth $434,983,956. 23.43% of the stock is owned by company 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.