Ieq Capital LLC Increases Position in Coinbase Global, Inc. $COIN

Key Points

• Ieq Capital LLC increased its stake in Coinbase Global, Inc. by 1.0%, owning approximately $41.60 million worth of shares as of the latest SEC filing.
• Major hedge funds, including Vanguard Group and ARK Investment Management, have also boosted their positions in Coinbase, reflecting increasing institutional interest with 68.84% of the stock owned by institutions.
• Coinbase recently reported earnings of $0.12 per share, missing estimates, and has seen its price target revised by various analysts, with a consensus rating of "Hold" and an average target price of $352.72.

Ieq Capital LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,509 shares of the cryptocurrency exchange's stock after purchasing an additional 2,301 shares during the quarter. Ieq Capital LLC owned approximately 0.10% of Coinbase Global worth $41,595,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $25,000. Copia Wealth Management acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $26,000. Bessemer Group Inc. grew its position in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after acquiring an additional 113 shares during the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global during the first quarter worth about $30,000. Finally, S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global during the first quarter valued at $31,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,756 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $300.52, for a total value of $527,713.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 15,439 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares of the company's stock, valued at $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,195,871 shares of company stock worth $442,626,576. 17.65% of the stock is owned by company insiders.

Coinbase Global Stock Down 1.3%

COIN stock traded down $3.93 during midday trading on Friday, hitting $304.54. The company's stock had a trading volume of 6,599,918 shares, compared to its average volume of 11,411,536. The company's fifty day moving average price is $348.51 and its 200 day moving average price is $263.03. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. The stock has a market capitalization of $78.25 billion, a P/E ratio of 29.45 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. Coinbase Global's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. As a group, equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on COIN. William Blair began coverage on Coinbase Global in a research note on Wednesday, June 11th. They set an "outperform" rating for the company. Oppenheimer reaffirmed an "outperform" rating and set a $417.00 price target on shares of Coinbase Global in a research note on Thursday, July 31st. Keefe, Bruyette & Woods lowered their price target on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Citigroup upped their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, Erste Group Bank started coverage on Coinbase Global in a research note on Wednesday, July 23rd. They issued a "buy" rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $352.72.

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.