Atlas Capital Advisors LLC Decreases Position in Coinbase Global, Inc. (NASDAQ:COIN)

Atlas Capital Advisors LLC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 19.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,147 shares of the cryptocurrency exchange’s stock after selling 753 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Coinbase Global were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Norges Bank bought a new position in Coinbase Global in the fourth quarter valued at about $202,936,000. a16z Perennial Management L.P. bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $147,646,000. Hamilton Lane Advisors LLC purchased a new stake in shares of Coinbase Global during the 4th quarter valued at about $88,015,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN stock opened at $183.36 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $216.40 and a two-hundred day simple moving average of $223.59. The stock has a market capitalization of $45.03 billion, a price-to-earnings ratio of 36.60 and a beta of 3.40. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. The company’s revenue for the quarter was up 104.8% on a year-over-year basis. During the same period last year, the business posted ($0.42) EPS. On average, analysts predict that Coinbase Global, Inc. will post 4.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COIN has been the subject of several recent research reports. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price objective on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Bank of America lowered their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Barclays raised their price objective on Coinbase Global from $196.00 to $206.00 and gave the stock an “underweight” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and an average price target of $248.38.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $246.16, for a total transaction of $369,240.00. Following the completion of the sale, the chief operating officer now directly owns 207,471 shares in the company, valued at approximately $51,071,061.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now directly owns 71,195 shares of the company’s stock, valued at $15,623,742.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $246.16, for a total value of $369,240.00. Following the completion of the sale, the chief operating officer now directly owns 207,471 shares of the company’s stock, valued at approximately $51,071,061.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,987 shares of company stock worth $17,535,714. 23.43% of the stock is currently owned by company insiders.

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.