Ieq Capital LLC Trims Position in Coinbase Global, Inc. (NASDAQ:COIN)

Ieq Capital LLC lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 59.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 257,788 shares of the cryptocurrency exchange’s stock after selling 375,742 shares during the quarter. Coinbase Global makes up about 0.8% of Ieq Capital LLC’s investment portfolio, making the stock its 22nd biggest position. Ieq Capital LLC owned 0.10% of Coinbase Global worth $57,288,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in COIN. Vanguard Group Inc. lifted its stake in shares of Coinbase Global by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Norges Bank purchased a new position in shares of Coinbase Global during the 4th quarter worth $202,936,000. Renaissance Technologies LLC lifted its stake in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the sale, the chief operating officer now owns 187,601 shares of the company’s stock, valued at $30,436,386.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $91,487.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. The disclosure for this sale can be found here. Insiders have sold 111,562 shares of company stock valued at $23,115,399 over the last quarter. Insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. HC Wainwright cut their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Compass Point cut their price objective on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Barclays upgraded Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $206.00 to $169.00 in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Stock Up 3.4 %

NASDAQ:COIN opened at $168.24 on Friday. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 33.58 and a beta of 3.36. Coinbase Global, Inc. has a one year low of $69.63 and a one year high of $283.48. The stock has a 50-day simple moving average of $200.73 and a 200 day simple moving average of $222.38. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business earned ($0.42) EPS. The business’s revenue was up 104.8% on a year-over-year basis. Sell-side analysts predict that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

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.