Aequim Alternative Investments LP Raises Stake in Coinbase Global, Inc. $COIN

Aequim Alternative Investments LP grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 16.7% during the second quarter, Holdings Channel reports. The firm owned 68,600 shares of the cryptocurrency exchange’s stock after purchasing an additional 9,800 shares during the period. Aequim Alternative Investments LP’s holdings in Coinbase Global were worth $24,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in Coinbase Global by 24.0% during the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after purchasing an additional 9,952 shares in the last quarter. Amalgamated Bank raised its holdings in Coinbase Global by 4.8% during the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock worth $2,368,000 after purchasing an additional 629 shares in the last quarter. Kera Capital Partners Inc. raised its holdings in Coinbase Global by 3.0% during the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after purchasing an additional 1,085 shares in the last quarter. Parallel Advisors LLC raised its holdings in Coinbase Global by 102.6% during the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after purchasing an additional 5,402 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In related news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the transaction, the insider directly owned 478 shares in the company, valued at $148,834.86. This trade represents a 92.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $186,977.22. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,657 shares of company stock worth $67,479,576 in the last three months. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $354.46 on Monday. The firm’s fifty day moving average price is $329.63 and its 200 day moving average price is $300.44. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year 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 firm has a market cap of $91.07 billion, a price-to-earnings ratio of 34.28 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business earned $0.14 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Rothschild Redb raised shares of Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Needham & Company LLC lifted their target price on shares of Coinbase Global from $270.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 1st. Rothschild & Co Redburn raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and lifted their target price for the company from $325.00 to $417.00 in a report on Friday, October 3rd. UBS Group set a $404.00 target price on shares of Coinbase Global in a report on Friday. Finally, Erste Group Bank initiated coverage on shares of Coinbase Global in a report on Wednesday, July 23rd. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $384.12.

Coinbase Global Company 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.