Coinbase Global, Inc. (NASDAQ:COIN) Position Lessened by Aequim Alternative Investments LP

Aequim Alternative Investments LP lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 14.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Coinbase Global in the fourth quarter worth $536,484,000. Groupama Asset Managment bought a new stake in shares of Coinbase Global during the 4th quarter worth about $372,450,000. Proficio Capital Partners LLC increased its holdings in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after acquiring an additional 417,036 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock valued at $81,612,000 after acquiring an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Coinbase Global by 614.8% in the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after purchasing an additional 295,313 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 15,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. This represents a 96.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,970 shares of company stock valued at $38,672,615 in the last 90 days. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Price Performance

NASDAQ:COIN opened at $204.93 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a 50-day moving average of $188.51 and a 200-day moving average of $243.17. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The company has a market capitalization of $52.03 billion, a price-to-earnings ratio of 21.57 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on COIN shares. HC Wainwright reiterated a “buy” rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Bank of America lowered their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. JMP Securities cut their target price on shares of Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. Cantor Fitzgerald began coverage on Coinbase Global in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price target on the stock. Finally, Piper Sandler boosted their price objective on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $284.24.

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.