EULAV Asset Management Increases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

EULAV Asset Management boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 37.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,000 shares of the cryptocurrency exchange's stock after purchasing an additional 20,000 shares during the period. EULAV Asset Management's holdings in Coinbase Global were worth $13,006,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Coinbase Global in the third quarter valued at about $809,000. Prospera Financial Services Inc boosted its stake in shares of Coinbase Global by 3.6% in the 3rd quarter. Prospera Financial Services Inc now owns 1,979 shares of the cryptocurrency exchange's stock valued at $353,000 after purchasing an additional 68 shares in the last quarter. Caprock Group LLC grew its holdings in shares of Coinbase Global by 43.0% during the 3rd quarter. Caprock Group LLC now owns 16,513 shares of the cryptocurrency exchange's stock valued at $2,942,000 after purchasing an additional 4,965 shares during the last quarter. Windle Wealth LLC increased its position in Coinbase Global by 2.4% during the 3rd quarter. Windle Wealth LLC now owns 6,872 shares of the cryptocurrency exchange's stock worth $1,224,000 after purchasing an additional 158 shares in the last quarter. Finally, CAP Partners LLC boosted its position in Coinbase Global by 12.8% in the third quarter. CAP Partners LLC now owns 6,191 shares of the cryptocurrency exchange's stock valued at $1,103,000 after buying an additional 704 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Performance

Coinbase Global stock traded down $4.56 during midday trading on Wednesday, reaching $320.01. The stock had a trading volume of 22,816,793 shares, compared to its average volume of 11,104,324. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $80.11 billion, a PE ratio of 55.14 and a beta of 3.34. Coinbase Global, Inc. has a 12 month low of $101.34 and a 12 month high of $341.75. The firm's 50-day moving average price is $205.45 and its 200 day moving average price is $213.30.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The business's quarterly revenue was up 78.8% compared to the same quarter last year. As a group, research analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Insider Activity

In other Coinbase Global news, Director Frederick R. Wilson sold 40,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the transaction, the director now owns 50,000 shares of the company's stock, valued at $15,000,000. The trade was a 44.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 194,091 shares of company stock worth $50,033,426 in the last three months. Corporate insiders own 23.43% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Compass Point cut their price target on Coinbase Global from $325.00 to $295.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Piper Sandler reaffirmed a "neutral" rating and issued a $245.00 price objective on shares of Coinbase Global in a research note on Friday, November 1st. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a "neutral" rating and a $185.00 target price on the stock. Finally, Citigroup upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and upped their price target for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $251.00.

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.