IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 5,270 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Key Points

• IQ EQ Fund Management Ireland Ltd increased its stake in Coinbase Global, purchasing an additional 5,270 shares, bringing its total holdings to 14,442 shares valued at approximately $2.5 million.
• During the fourth quarter, institutional investors, including Two Sigma Advisers LP and Wellington Management Group LLP, significantly increased their shares in Coinbase Global, indicating strong institutional interest in the company.
• Coinbase Global's recent earnings report showed a miss on EPS estimates at $0.12, with revenue of $1.5 billion, prompting analysts to adjust their price targets and ratings around the stock.

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 57.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,442 shares of the cryptocurrency exchange's stock after buying an additional 5,270 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Coinbase Global were worth $2,487,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Two Sigma Advisers LP increased its holdings in Coinbase Global by 445.4% in the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock worth $101,431,000 after acquiring an additional 333,600 shares during the last quarter. Wellington Management Group LLP boosted its position in Coinbase Global by 1,159.9% during the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock worth $81,612,000 after purchasing an additional 302,595 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Coinbase Global by 29.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 979,129 shares of the cryptocurrency exchange's stock worth $243,118,000 after purchasing an additional 222,789 shares in the last quarter. Northern Trust Corp raised its position in shares of Coinbase Global by 20.3% in the fourth quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange's stock valued at $321,488,000 after purchasing an additional 218,400 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Coinbase Global by 18,515.4% during the 1st quarter. GAMMA Investing LLC now owns 193,414 shares of the cryptocurrency exchange's stock valued at $33,312,000 after buying an additional 192,375 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 30,167 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the transaction, the director directly owned 10,417 shares of the company's stock, valued at $2,632,167.56. The trade was a 74.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 336,265 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,183,340 shares of company stock worth $434,983,956. 23.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

COIN has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a "buy" rating and issued a $470.00 price objective on shares of Coinbase Global in a research note on Friday. The Goldman Sachs Group boosted their price objective on Coinbase Global from $239.00 to $268.00 and gave the company a "neutral" rating in a research note on Monday, July 7th. JMP Securities lifted their target price on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a report on Monday, July 14th. Benchmark increased their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Finally, Williams Trading set a $405.00 price objective on shares of Coinbase Global in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $344.55.

Coinbase Global Price Performance

COIN stock opened at $314.69 on Monday. The firm has a market cap of $79.89 billion, a P/E ratio of 30.43, a P/E/G ratio of 21.92 and a beta of 3.70. The firm's fifty day moving average is $327.63 and its 200 day moving average is $259.38. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.

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