Aequim Alternative Investments LP decreased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 51.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,000 shares of the cryptocurrency exchange’s stock after selling 31,300 shares during the period. Aequim Alternative Investments LP’s holdings in Coinbase Global were worth $2,027,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ancora Advisors LLC increased its position in shares of Coinbase Global by 144.0% in the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock worth $26,000 after acquiring an additional 435 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Coinbase Global in the first quarter worth $27,000. Bessemer Group Inc. increased its position in shares of Coinbase Global by 100.0% in the fourth quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock worth $36,000 after acquiring an additional 500 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Coinbase Global in the fourth quarter worth $36,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Coinbase Global by 231.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 597 shares of the cryptocurrency exchange’s stock worth $40,000 after acquiring an additional 417 shares in the last quarter. Institutional investors and hedge funds own 45.96% of the company’s stock.
Wall Street Analysts Forecast Growth
COIN has been the subject of several recent research reports. Piper Sandler increased their price objective on shares of Coinbase Global from $60.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Berenberg Bank initiated coverage on shares of Coinbase Global in a research note on Monday, May 15th. They issued a “hold” rating and a $55.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Coinbase Global from $59.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Mizuho restated an “underperform” rating and issued a $27.00 target price on shares of Coinbase Global in a research note on Wednesday, August 23rd. Finally, JMP Securities restated a “market outperform” rating and issued a $107.00 target price on shares of Coinbase Global in a research note on Thursday, August 17th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $77.38.
Read Our Latest Report on COIN
Coinbase Global Stock Performance
Shares of NASDAQ:COIN traded down $0.39 on Friday, reaching $81.40. 4,375,521 shares of the company’s stock were exchanged, compared to its average volume of 16,255,645. The firm has a market capitalization of $19.31 billion, a price-to-earnings ratio of -14.41 and a beta of 2.75. Coinbase Global, Inc. has a fifty-two week low of $31.55 and a fifty-two week high of $114.43. The business’s 50-day moving average is $86.08 and its two-hundred day moving average is $69.80. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.
Coinbase Global (NASDAQ:COIN – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The cryptocurrency exchange reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.36. Coinbase Global had a negative net margin of 47.33% and a negative return on equity of 20.68%. The business had revenue of $707.91 million for the quarter, compared to analysts’ expectations of $627.60 million. During the same quarter last year, the company earned ($4.95) EPS. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities research analysts forecast that Coinbase Global, Inc. will post -1.45 EPS for the current year.
Insider Buying and Selling
In other Coinbase Global news, CAO Jennifer N. Jones sold 74,375 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $70.00, for a total transaction of $5,206,250.00. Following the transaction, the chief accounting officer now owns 34,752 shares of the company’s stock, valued at approximately $2,432,640. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Coinbase Global news, CEO Brian Armstrong sold 59,460 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $105.69, for a total transaction of $6,284,327.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer N. Jones sold 74,375 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $70.00, for a total transaction of $5,206,250.00. Following the transaction, the chief accounting officer now directly owns 34,752 shares in the company, valued at approximately $2,432,640. The disclosure for this sale can be found here. Insiders have sold a total of 325,872 shares of company stock valued at $27,017,282 in the last quarter. Company insiders own 33.16% of the company’s stock.
Coinbase Global Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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