Syquant Capital Sas Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Syquant Capital Sas purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,398 shares of the cryptocurrency exchange's stock, valued at approximately $930,000. Coinbase Global accounts for 0.7% of Syquant Capital Sas' holdings, making the stock its 11th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of COIN. Mascagni Wealth Management Inc. bought a new position in Coinbase Global during the 4th quarter worth approximately $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $26,000. Atala Financial Inc bought a new position in shares of Coinbase Global in the fourth quarter worth approximately $27,000. NBT Bank N A NY bought a new position in shares of Coinbase Global in the first quarter worth approximately $33,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Coinbase Global in the fourth quarter worth $35,000. 68.84% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Alesia J. Haas sold 1,741 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $247.50, for a total value of $430,897.50. Following the completion of the transaction, the chief financial officer now directly owns 10,450 shares in the company, valued at $2,586,375. The trade was a 14.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $88,646.78. This trade represents a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 212,915 shares of company stock worth $48,349,215 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Stock Up 3.1%

Shares of NASDAQ COIN traded up $10.55 on Wednesday, reaching $355.37. 30,064,024 shares of the company's stock traded hands, compared to its average volume of 10,532,264. The business's 50 day simple moving average is $238.44 and its two-hundred day simple moving average is $240.34. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $368.92. The company has a market cap of $90.22 billion, a price-to-earnings ratio of 66.55, a price-to-earnings-growth ratio of 22.50 and a beta of 3.62. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm's quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the business earned $2.53 EPS. As a group, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the subject of several analyst reports. Cantor Fitzgerald started coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price target on the stock. The Goldman Sachs Group increased their target price on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. China Renaissance began coverage on Coinbase Global in a report on Tuesday, June 17th. They set a "buy" rating and a $353.30 price target on the stock. Citigroup reaffirmed a "neutral" rating on shares of Coinbase Global in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $286.42.

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.