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

Interchange Capital Partners LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 76.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 715 shares of the cryptocurrency exchange’s stock after selling 2,330 shares during the period. Interchange Capital Partners LLC’s holdings in Coinbase Global were worth $251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in Coinbase Global by 24.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock valued at $8,861,000 after acquiring an additional 9,952 shares in the last quarter. Amalgamated Bank lifted its position in shares of Coinbase Global by 4.8% in the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock worth $2,368,000 after purchasing an additional 629 shares in the last quarter. Kera Capital Partners Inc. lifted its position in shares of Coinbase Global by 3.0% in the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after purchasing an additional 1,085 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Coinbase Global by 102.6% during the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after purchasing an additional 5,402 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock valued at $193,000 after purchasing an additional 84 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup increased their price objective on shares of Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Coinbase Global in a research report on Tuesday. Sanford C. Bernstein raised their price target on Coinbase Global from $310.00 to $510.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. Compass Point reiterated a “sell” rating and set a $248.00 price objective (down previously from $330.00) on shares of Coinbase Global in a research note on Monday, August 4th. Finally, Jefferies Financial Group increased their price objective on Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.94.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the completion of the sale, the insider owned 82,328 shares in the company, valued at $28,475,608.64. The trade was a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alesia J. Haas sold 1,742 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $322.22, for a total value of $561,307.24. Following the transaction, the chief financial officer owned 5,226 shares in the company, valued at approximately $1,683,921.72. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,515 shares of company stock worth $56,329,451 in the last quarter. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $341.55 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $87.76 billion, a P/E ratio of 33.03 and a beta of 3.68. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The stock has a 50 day moving average of $326.71 and a 200-day moving average of $290.13.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business earned $0.14 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Coinbase Global, Inc. will post 7.22 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.