Ieq Capital LLC Sells 35,344 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Ieq Capital LLC reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 7.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 445,086 shares of the cryptocurrency exchange's stock after selling 35,344 shares during the period. Coinbase Global accounts for about 1.3% of Ieq Capital LLC's portfolio, making the stock its 16th largest position. Ieq Capital LLC owned approximately 0.19% of Coinbase Global worth $77,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of COIN. Raymond James & Associates boosted its holdings in Coinbase Global by 65.5% in the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange's stock worth $4,203,000 after acquiring an additional 9,564 shares in the last quarter. Masso Torrence Wealth Management Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $302,000. Mariner LLC increased its position in shares of Coinbase Global by 5.4% in the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange's stock valued at $6,200,000 after acquiring an additional 4,259 shares during the period. Itau Unibanco Holding S.A. raised its stake in Coinbase Global by 10.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange's stock worth $103,000 after acquiring an additional 125 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in Coinbase Global in the fourth quarter valued at approximately $1,035,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 64,000 shares of the business's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the transaction, the chief financial officer now owns 219,490 shares of the company's stock, valued at $50,142,490.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul Grewal sold 10,257 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the sale, the insider now owns 66,122 shares in the company, valued at approximately $18,223,223.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alesia J. Haas sold 64,000 shares of the company's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total value of $14,620,800.00. Following the completion of the transaction, the chief financial officer now owns 219,490 shares in the company, valued at $50,142,490.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 354,847 shares of company stock worth $81,473,390. Insiders own 33.16% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America upped their price objective on shares of Coinbase Global from $92.00 to $110.00 and gave the company an "underperform" rating in a report on Wednesday, April 10th. Raymond James upgraded Coinbase Global from an "underperform" rating to a "market perform" rating in a research note on Tuesday, March 12th. Canaccord Genuity Group lifted their price target on Coinbase Global from $240.00 to $280.00 and gave the company a "buy" rating in a research report on Friday, May 3rd. Barclays boosted their price target on Coinbase Global from $179.00 to $204.00 and gave the company an "underweight" rating in a report on Monday, May 6th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $200.63.

Coinbase Global Price Performance

NASDAQ:COIN traded down $1.41 during trading hours on Monday, hitting $199.51. 7,525,056 shares of the stock were exchanged, compared to its average volume of 12,921,087. The company has a market cap of $48.99 billion, a P/E ratio of 39.82 and a beta of 3.46. The firm's fifty day moving average price is $237.58 and its 200 day moving average price is $171.84. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The firm's revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.46) EPS. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal 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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