Aequim Alternative Investments LP Sells 10,000 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Aequim Alternative Investments LP decreased its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 14.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 58,800 shares of the cryptocurrency exchange's stock after selling 10,000 shares during the period. Aequim Alternative Investments LP's holdings in Coinbase Global were worth $14,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. McElhenny Sheffield Capital Management LLC purchased a new position in Coinbase Global in the fourth quarter valued at about $252,000. Savant Capital LLC bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $591,000. Principal Financial Group Inc. increased its holdings in Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock worth $9,558,000 after buying an additional 36,843 shares during the last quarter. Everence Capital Management Inc. bought a new position in Coinbase Global during the fourth quarter valued at approximately $1,207,000. Finally, Sara Bay Financial acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $230,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of COIN traded down $5.53 on Monday, reaching $199.40. 5,098,599 shares of the stock traded hands, compared to its average volume of 9,595,845. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock's 50-day moving average price is $188.23 and its 200-day moving average price is $243.53. The firm has a market cap of $50.62 billion, a price-to-earnings ratio of 20.99 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating 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%. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on COIN shares. Compass Point restated a "sell" rating and set a $180.00 price target on shares of Coinbase Global in a report on Monday, April 28th. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their price objective on Coinbase Global from $344.00 to $276.00 and set a "neutral" rating on the stock in a report on Friday. HC Wainwright restated a "buy" rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Finally, JMP Securities lowered their price target on Coinbase Global from $475.00 to $400.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $285.95.

Insider Activity

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 25,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $144,786.76. The trade was a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,970 shares of company stock worth $31,897,865. 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.