Coinbase Global, Inc. (NASDAQ:COIN) Holdings Cut by Aequim Alternative Investments LP

Aequim Alternative Investments LP cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 14.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,800 shares of the cryptocurrency exchange’s stock after selling 10,000 shares during the quarter. Aequim Alternative Investments LP’s holdings in Coinbase Global were worth $14,600,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in COIN. Wilmington Savings Fund Society FSB bought a new stake in Coinbase Global in the 3rd quarter valued at about $94,000. Principal Financial Group Inc. increased its stake in shares of Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after purchasing an additional 36,843 shares during the period. Versant Capital Management Inc raised its holdings in shares of Coinbase Global by 106.9% during the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock valued at $74,000 after buying an additional 154 shares during the last quarter. GAMMA Investing LLC grew its holdings in Coinbase Global by 25.9% in the 4th quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange’s stock worth $258,000 after buying an additional 214 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in Coinbase Global in the 4th quarter worth approximately $1,207,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Trading Up 1.8 %

NASDAQ:COIN opened at $204.93 on Friday. The stock has a fifty day simple moving average of $188.51 and a 200 day simple moving average of $243.17. The firm has a market capitalization of $52.03 billion, a price-to-earnings ratio of 21.57 and a beta of 3.65. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COIN shares. Needham & Company LLC reiterated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Piper Sandler upped their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Compass Point reissued a “sell” rating and set a $180.00 target price on shares of Coinbase Global in a research note on Monday, April 28th. Mizuho reduced their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $284.24.

Insider Buying and Selling

In related news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $295.10, for a total value of $2,246,891.40. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. This represents a 42.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,970 shares of company stock valued at $38,672,615. Company insiders own 23.43% of the company’s stock.

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.