IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 24,497 Shares of Coinbase Global, Inc. $COIN

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 169.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,939 shares of the cryptocurrency exchange’s stock after acquiring an additional 24,497 shares during the quarter. Coinbase Global makes up approximately 1.2% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings, making the stock its 11th biggest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Coinbase Global were worth $13,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Coinbase Global by 8.1% during the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after purchasing an additional 84 shares during the period. Bessemer Group Inc. grew its position in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after buying an additional 113 shares in the last quarter. Diversified Trust Co increased its stake in shares of Coinbase Global by 60.5% during the first quarter. Diversified Trust Co now owns 3,571 shares of the cryptocurrency exchange’s stock valued at $615,000 after buying an additional 1,346 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Coinbase Global by 222.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,233 shares of the cryptocurrency exchange’s stock valued at $14,852,000 after acquiring an additional 59,513 shares in the last quarter. Finally, Sovran Advisors LLC raised its holdings in shares of Coinbase Global by 29.7% in the first quarter. Sovran Advisors LLC now owns 1,653 shares of the cryptocurrency exchange’s stock valued at $289,000 after acquiring an additional 379 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of Coinbase Global stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the sale, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. The trade was a 15.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lawrence J. Brock sold 5,903 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the sale, the insider owned 478 shares in the company, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 205,657 shares of company stock worth $67,479,576 in the last 90 days. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 2.0%

COIN stock opened at $361.43 on Tuesday. The stock has a market capitalization of $92.87 billion, a PE ratio of 34.95 and a beta of 3.68. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $330.44 and a 200 day moving average of $301.73.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the company posted $0.14 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COIN. Jefferies Financial Group increased their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. JPMorgan Chase & Co. upgraded shares of Coinbase Global from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $342.00 to $404.00 in a research note on Friday. Citigroup boosted their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Erste Group Bank began coverage on Coinbase Global in a research note on Wednesday, July 23rd. They set a “buy” rating for the company. Finally, Williams Trading set a $405.00 target price on shares of Coinbase Global in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $384.12.

Coinbase Global Company 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.