Sepio Capital LP Has $2.38 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Sepio Capital LP boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 10,716 shares of the cryptocurrency exchange’s stock after buying an additional 652 shares during the quarter. Sepio Capital LP’s holdings in Coinbase Global were worth $2,381,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Cowen AND Company LLC grew its holdings in Coinbase Global by 1.5% during the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after acquiring an additional 22,071 shares during the period. Renaissance Technologies LLC raised its position in shares of Coinbase Global by 185.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after purchasing an additional 486,512 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COIN. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Friday, August 2nd. Bank of America decreased their target price on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group cut their price target on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $246.06.

Insider Buying and Selling

In other news, CAO Jennifer N. Jones sold 450 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $225.70, for a total transaction of $101,565.00. Following the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $380,530.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the transaction, the chief operating officer now owns 187,601 shares of the company’s stock, valued at approximately $30,436,386.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jennifer N. Jones sold 450 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $225.70, for a total value of $101,565.00. Following the sale, the chief accounting officer now owns 1,686 shares in the company, valued at approximately $380,530.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,062 shares of company stock valued at $20,584,974. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

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

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

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.