5,398 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Syquant Capital Sas

Syquant Capital Sas acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,398 shares of the cryptocurrency exchange’s stock, valued at approximately $930,000. Coinbase Global makes up 0.7% of Syquant Capital Sas’ holdings, making the stock its 11th biggest holding.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Coinbase Global during the 4th quarter valued at approximately $536,484,000. Groupama Asset Managment purchased a new stake in Coinbase Global in the fourth quarter valued at $372,450,000. Proficio Capital Partners LLC raised its position in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the period. Two Sigma Advisers LP raised its holdings in Coinbase Global by 445.4% in the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange’s stock valued at $101,431,000 after buying an additional 333,600 shares during the period. Finally, Wellington Management Group LLP raised 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 valued at $81,612,000 after buying an additional 302,595 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction on Monday, April 14th. The shares were sold at an average price of $178.79, for a total value of $2,681,850.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $94,043.54. This trade represents a 96.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 107,291 shares in the company, valued at approximately $21,458,200. The trade was a 6.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 212,915 shares of company stock valued at $48,349,215. Insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on shares of Coinbase Global from $189.00 to $209.00 and gave the company a “neutral” rating in a research note on Monday, May 12th. Mizuho reduced their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Jefferies Financial Group reissued a “hold” rating and issued a $260.00 target price (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. China Renaissance assumed coverage on Coinbase Global in a research report on Tuesday, June 17th. They issued a “buy” rating and a $353.30 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a “market perform” rating in a research note on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $277.33.

Coinbase Global Stock Performance

Shares of COIN opened at $307.59 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm has a market cap of $78.09 billion, a PE ratio of 57.60, a price-to-earnings-growth ratio of 22.47 and a beta of 3.62. The company’s 50 day simple moving average is $235.05 and its 200-day simple moving average is $239.61. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the business posted $2.53 earnings per share. The business’s revenue was up 24.2% on a year-over-year basis. As a group, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current 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.