Sepio Capital LP Increases Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sepio Capital LP boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,480 shares of the cryptocurrency exchange’s stock after buying an additional 123 shares during the quarter. Sepio Capital LP’s holdings in Coinbase Global were worth $2,850,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COIN. Norges Bank purchased a new position in shares of Coinbase Global in the 4th quarter valued at about $536,484,000. Groupama Asset Managment acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $372,450,000. Proficio Capital Partners LLC raised its stake in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after buying an additional 417,036 shares during the period. Geode Capital Management LLC grew its stake in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Coinbase Global by 1,159.9% in the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after acquiring an additional 302,595 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on COIN shares. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. HC Wainwright reissued a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Mizuho reduced their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $160.55 on Friday. The company’s 50-day moving average is $226.99 and its two-hundred day moving average is $242.60. The firm has a market capitalization of $40.76 billion, a price-to-earnings ratio of 16.90 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling

In other news, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at $3,126,037.53. This represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,609 shares of company stock valued at $52,238,258. 23.43% of the stock is currently owned by insiders.

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.