Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Ieq Capital LLC

Ieq Capital LLC reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 239,208 shares of the cryptocurrency exchange’s stock after selling 14,918 shares during the period. Ieq Capital LLC owned about 0.10% of Coinbase Global worth $59,395,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of COIN. Clear Street Derivatives LLC acquired a new stake in Coinbase Global in the third quarter valued at approximately $409,919,000. Geode Capital Management LLC boosted its stake in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares during the last quarter. Azora Capital LP lifted its position in Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after buying an additional 220,078 shares in the last quarter. Holocene Advisors LP purchased a new position in Coinbase Global during the third quarter worth approximately $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Coinbase Global in the third quarter valued at $29,756,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Down 2.3 %

NASDAQ:COIN opened at $258.67 on Thursday. The stock has a 50-day simple moving average of $278.39 and a 200-day simple moving average of $239.35. The stock has a market cap of $64.76 billion, a P/E ratio of 27.23 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, analysts anticipate that Coinbase Global, Inc. will post 4.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on COIN. The Goldman Sachs Group reduced their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. JMP Securities lifted their target price on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, Barclays lifted their target price on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $303.94.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the completion of the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 336,143 shares of company stock valued at $97,842,603. 23.43% of the stock is currently owned by corporate insiders.

About Coinbase Global

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.