Interchange Capital Partners LLC Has $251,000 Holdings in Coinbase Global, Inc. $COIN

Interchange Capital Partners LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 76.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 715 shares of the cryptocurrency exchange’s stock after selling 2,330 shares during the quarter. Interchange Capital Partners LLC’s holdings in Coinbase Global were worth $251,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in shares of Coinbase Global by 44.2% during the first quarter. Farther Finance Advisors LLC now owns 1,390 shares of the cryptocurrency exchange’s stock worth $243,000 after purchasing an additional 426 shares during the period. GAMMA Investing LLC grew its position in Coinbase Global by 8.1% during the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after buying an additional 84 shares in the last quarter. CX Institutional bought a new position in Coinbase Global during the 1st quarter worth $85,000. Elevation Point Wealth Partners LLC raised its holdings in Coinbase Global by 71.1% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 2,358 shares of the cryptocurrency exchange’s stock valued at $406,000 after acquiring an additional 980 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Coinbase Global by 40.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,852 shares of the cryptocurrency exchange’s stock valued at $2,213,000 after acquiring an additional 3,695 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of several analyst reports. Compass Point reissued a “sell” rating and set a $248.00 target price (down from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Rosenblatt Securities reiterated a “buy” rating and set a $470.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. Monness Crespi & Hardt cut shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. HC Wainwright reaffirmed a “sell” rating and set a $300.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Finally, Bank of America reduced their price target on shares of Coinbase Global from $369.00 to $340.00 in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $367.94.

Coinbase Global Trading Down 4.3%

Shares of COIN stock opened at $341.55 on Wednesday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The stock’s fifty day simple moving average is $326.71 and its 200 day simple moving average is $290.13. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $87.76 billion, a P/E ratio of 33.03 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 4,675 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $322.24, for a total transaction of $1,506,472.00. Following the completion of the transaction, the chief financial officer owned 89,220 shares of the company’s stock, valued at approximately $28,750,252.80. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction 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 transaction, the insider owned 478 shares in the company, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,515 shares of company stock worth $56,329,451 in the last 90 days. Corporate insiders own 23.43% of the company’s stock.

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.