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

Banco Bilbao Vizcaya Argentaria S.A. trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 13.6% during the 2nd quarter, according to the company in 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 quarter. Coinbase Global accounts for approximately 1.4% of Banco Bilbao Vizcaya Argentaria S.A.’s investment portfolio, making the stock its 15th biggest holding. Banco Bilbao Vizcaya Argentaria S.A. owned 0.17% of Coinbase Global worth $149,409,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after buying an additional 875,359 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Coinbase Global by 46.1% in the second quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after acquiring an additional 1,755,146 shares during the period. ARK Investment Management LLC boosted its position in 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 grew its stake in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the period. Finally, Amundi grew its stake in shares of Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after purchasing an additional 481,786 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $309.92, for a total transaction of $85,870,774.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $190,054.32. This represents a 97.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 643,346 shares of company stock valued at $203,470,475 in the last 90 days. 17.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COIN. Jefferies Financial Group reiterated a “hold” rating and issued a $384.00 target price on shares of Coinbase Global in a research note on Wednesday, October 29th. Bank of America decreased their price objective on shares of Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. Piper Sandler reissued a “neutral” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Thursday, July 31st. UBS Group set a $404.00 price target on Coinbase Global in a research note on Friday, October 24th. Finally, Cantor Fitzgerald lowered their price target on Coinbase Global from $500.00 to $459.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $399.94.

Coinbase Global Trading Down 6.9%

Shares of Coinbase Global stock opened at $283.14 on Friday. The firm has a market capitalization of $76.35 billion, a PE ratio of 24.49 and a beta of 3.67. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The firm’s 50-day moving average price is $333.77 and its 200 day moving average price is $313.21. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37.

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

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.