AG2R LA Mondiale Gestion D Actifs Acquires Shares of 7,662 Coinbase Global, Inc. $COIN

AG2R LA Mondiale Gestion D Actifs acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 1st quarter, HoldingsChannel reports. The firm acquired 7,662 shares of the cryptocurrency exchange’s stock, valued at approximately $1,320,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Swedbank AB increased its stake in Coinbase Global by 9.0% in the 1st quarter. Swedbank AB now owns 35,323 shares of the cryptocurrency exchange’s stock valued at $6,084,000 after buying an additional 2,909 shares during the period. First Hawaiian Bank increased its stake in shares of Coinbase Global by 27.4% during the 1st quarter. First Hawaiian Bank now owns 1,675 shares of the cryptocurrency exchange’s stock worth $288,000 after purchasing an additional 360 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Coinbase Global by 71.4% during the 1st quarter. Inspire Investing LLC now owns 1,789 shares of the cryptocurrency exchange’s stock worth $308,000 after purchasing an additional 745 shares during the last quarter. Strs Ohio acquired a new position in shares of Coinbase Global during the 1st quarter worth $13,535,000. Finally, Jacobi Capital Management LLC increased its stake in shares of Coinbase Global by 14.0% during the 1st quarter. Jacobi Capital Management LLC now owns 1,976 shares of the cryptocurrency exchange’s stock worth $340,000 after purchasing an additional 243 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $323.04 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $340.68 and a 200 day simple moving average of $267.27. The company has a market cap of $83.00 billion, a P/E ratio of 31.24 and a beta of 3.68. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.68 billion. During the same period in the prior year, the company posted $0.14 earnings per share. Coinbase Global’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the 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 sale, the insider directly owned 82,328 shares of the company’s stock, valued at $25,070,522.56. This represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer N. Jones sold 1,756 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $300.52, for a total transaction of $527,713.12. The disclosure for this sale can be found here. Insiders sold 1,180,871 shares of company stock valued at $440,664,276 in the last quarter. Company insiders own 17.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COIN. Rosenblatt Securities restated a “buy” rating and set a $470.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Williams Trading set a $405.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. HC Wainwright restated a “sell” rating and set a $300.00 price target on shares of Coinbase Global in a research note on Friday, August 1st. Needham & Company LLC increased their price target on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Thirteen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $352.72.

About Coinbase Global

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.