Compagnie Lombard Odier SCmA Reduces Position in Coinbase Global, Inc. $COIN

Compagnie Lombard Odier SCmA trimmed its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 29.1% in the 2nd quarter, Holdings Channel reports. The firm owned 360 shares of the cryptocurrency exchange’s stock after selling 148 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Coinbase Global were worth $126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. Vanguard Group Inc. grew its position in Coinbase Global by 4.8% in 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 during the period. ARK Investment Management LLC increased its stake in shares of Coinbase Global by 1.1% in the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after purchasing an additional 34,462 shares in the last quarter. Groupama Asset Managment lifted its position in Coinbase Global by 100.0% during the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after purchasing an additional 1,500,000 shares in the last quarter. Amundi grew its holdings in Coinbase Global by 44.1% during the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after purchasing an additional 481,786 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Coinbase Global by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after buying an additional 7,675 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $322.28, for a total transaction of $8,057,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company’s stock, valued at approximately $169,519.28. This trade represents a 97.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $304.52, for a total value of $3,045,200.00. Following the completion of the transaction, the insider directly owned 82,328 shares in the company, valued at $25,070,522.56. This trade represents a 10.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 863,250 shares of company stock valued at $325,293,290. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of a number of recent analyst reports. Compass Point restated a “sell” rating and set a $248.00 target price (down previously from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. The Goldman Sachs Group increased their price objective on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a “neutral” rating in a research note on Monday, July 7th. Oppenheimer restated an “outperform” rating and set a $417.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. William Blair began coverage on shares of Coinbase Global in a report on Wednesday, June 11th. They issued an “outperform” rating for the company. Finally, Williams Trading set a $405.00 price target on Coinbase Global in a report on Thursday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $356.18.

Coinbase Global Stock Down 3.6%

NASDAQ COIN opened at $320.07 on Wednesday. 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 $82.24 billion, a price-to-earnings ratio of 30.95 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $334.06 and a two-hundred day moving average of $272.94.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. Coinbase Global’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.