Aequim Alternative Investments LP Boosts Holdings in Coinbase Global, Inc. $COIN

Aequim Alternative Investments LP raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 16.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after buying an additional 875,359 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Coinbase Global by 1.1% in the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after buying an additional 34,462 shares during the last quarter. Groupama Asset Managment raised its position in shares of Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares during the last quarter. Amundi raised its position in shares of Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Coinbase Global by 0.6% in the first quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after buying an additional 7,675 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Paul Grewal sold 15,439 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares of the company’s stock, valued at approximately $25,587,542.40. This trade represents a 15.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the completion of the transaction, the insider owned 478 shares of the company’s stock, valued at $148,834.86. This represents a 92.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,657 shares of company stock valued at $67,479,576. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Trading Up 9.8%

Shares of COIN stock opened at $354.46 on Monday. 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 PE ratio of 34.28 and a beta of 3.68. The company has a 50-day moving average of $329.63 and a two-hundred day moving average of $300.44. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Barclays reduced their target price on shares of Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Erste Group Bank initiated coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They issued a “buy” rating for the company. HC Wainwright restated a “sell” rating and set a $300.00 price objective on shares of Coinbase Global in a research report on Friday, August 1st. The Goldman Sachs Group raised their price objective on shares of Coinbase Global from $363.00 to $385.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Oppenheimer restated an “outperform” rating and set a $417.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $384.12.

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.