Banco Bilbao Vizcaya Argentaria S.A. Trims Holdings in Coinbase Global, Inc. $COIN

Banco Bilbao Vizcaya Argentaria S.A. lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 13.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 425,039 shares of the cryptocurrency exchange’s stock after selling 66,973 shares during the period. Coinbase Global accounts for 1.4% of Banco Bilbao Vizcaya Argentaria S.A.’s investment portfolio, making the stock its 15th largest position. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Coinbase Global were worth $149,409,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global during the 1st quarter valued at about $30,000. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global in the 2nd quarter valued at about $30,000. S Bank Fund Management Ltd acquired a new position in Coinbase Global in the 1st quarter valued at about $31,000. SouthState Corp grew its stake in shares of Coinbase Global by 128.4% in the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after buying an additional 104 shares during the period. Finally, City State Bank acquired a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $33,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

COIN stock opened at $283.14 on Friday. The business’s fifty day moving average price is $333.77 and its 200 day moving average price is $313.21. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $76.35 billion, a PE ratio of 24.49 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.Coinbase Global’s revenue was up 55.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares in the company, valued at $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Emilie Choi sold 100,000 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $310.88, for a total value of $31,088,000.00. Following the completion of the sale, the chief operating officer owned 187,802 shares in the company, valued at approximately $58,383,885.76. The trade was a 34.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 643,346 shares of company stock worth $203,470,475. 17.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

COIN has been the topic of a number of recent analyst reports. UBS Group set a $404.00 price objective on Coinbase Global in a report on Friday, October 24th. Jefferies Financial Group restated a “hold” rating and issued a $384.00 target price on shares of Coinbase Global in a research report on Wednesday, October 29th. Oppenheimer reiterated an “outperform” rating and set a $417.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Barclays cut their price objective on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. Finally, China Renaissance upped their target price on shares of Coinbase Global from $444.60 to $479.30 in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $399.94.

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.