Interchange Capital Partners LLC Reduces Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Interchange Capital Partners LLC lowered its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,077 shares of the cryptocurrency exchange’s stock after selling 224 shares during the quarter. Interchange Capital Partners LLC’s holdings in Coinbase Global were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of COIN. Vanguard Group Inc. increased its position in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after buying an additional 2,624,989 shares during the last quarter. Renaissance Technologies LLC increased its holdings in 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 during the last quarter. Canada Pension Plan Investment Board raised its stake in 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 acquiring an additional 486,512 shares during the period. American Century Companies Inc. lifted its holdings in Coinbase Global by 1,136.7% during the second 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 during the last quarter. Finally, APEIRON CAPITAL Ltd bought a new position in Coinbase Global during the first quarter worth about $108,434,000. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now directly owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now directly owns 7,771 shares in the company, valued at $1,588,703.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company’s stock, valued at $15,637,069.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,687 shares of company stock worth $14,908,594 over the last ninety days. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded up $9.27 during mid-day trading on Friday, reaching $188.52. 5,550,933 shares of the company were exchanged, compared to its average volume of 10,406,637. 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 company’s 50 day moving average price is $181.56 and its 200 day moving average price is $209.01. Coinbase Global, Inc. has a 52 week low of $80.81 and a 52 week high of $283.48. The stock has a market capitalization of $46.84 billion, a PE ratio of 32.43 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 15.38%. The business’s quarterly revenue was up 104.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.42) earnings per share. Sell-side analysts forecast that Coinbase Global, Inc. will post 4.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on COIN shares. Bank of America boosted their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday. B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Mizuho boosted their price objective on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday. Finally, Compass Point cut their target price 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, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $246.28.

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.