Sepio Capital LP Purchases 652 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Sepio Capital LP lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,716 shares of the cryptocurrency exchange’s stock after purchasing an additional 652 shares during the period. Sepio Capital LP’s holdings in Coinbase Global were worth $2,381,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Creekmur Asset Management LLC bought a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. Crewe Advisors LLC boosted its stake in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after acquiring an additional 104 shares during the period. Lynx Investment Advisory acquired a new position in shares of Coinbase Global during the 2nd quarter worth approximately $29,000. Concord Wealth Partners raised its stake in Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 87 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 4,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the completion of the transaction, the chief financial officer now owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $220.31, for a total transaction of $5,083,653.25. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $115,883.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the transaction, the chief financial officer now owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,062 shares of company stock valued at $20,584,974. 23.43% of the stock is owned by insiders.

Coinbase Global Trading Up 6.3 %

COIN opened at $191.23 on Friday. The stock has a market capitalization of $47.52 billion, a price-to-earnings ratio of 38.17 and a beta of 3.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. Coinbase Global, Inc. has a twelve month low of $70.41 and a twelve month high of $283.48. The company has a 50-day simple moving average of $191.76 and a 200 day simple moving average of $219.31.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COIN. The Goldman Sachs Group dropped their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Friday, August 2nd. HC Wainwright reduced their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Bank of America lowered their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Compass Point reduced their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $246.06.

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.