Fox Run Management L.L.C. Cuts Stock Position in Coinbase Global, Inc. $COIN

Fox Run Management L.L.C. trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 76.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 846 shares of the cryptocurrency exchange’s stock after selling 2,715 shares during the quarter. Fox Run Management L.L.C.’s holdings in Coinbase Global were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. McClarren Financial Advisors Inc. purchased a new stake in Coinbase Global in the 1st quarter worth $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Coinbase Global in the second quarter valued at about $30,000. S Bank Fund Management Ltd purchased a new stake in shares of Coinbase Global during the first quarter worth about $31,000. SouthState Corp raised its position in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Finally, City State Bank purchased a new position in Coinbase Global in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity

In other news, COO Emilie Choi sold 100,000 shares of Coinbase Global stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $310.88, for a total transaction of $31,088,000.00. Following the sale, the chief operating officer owned 187,802 shares of the company’s stock, valued at approximately $58,383,885.76. The trade was a 34.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 15,439 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares of the company’s stock, valued at $25,587,542.40. The trade was a 15.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 643,346 shares of company stock valued at $203,470,475 over the last three months. 17.65% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 6.9%

Shares of NASDAQ:COIN opened at $283.14 on Friday. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $444.64. The stock has a market cap of $76.35 billion, a P/E ratio of 24.49 and a beta of 3.67. The business has a fifty day moving average of $333.77 and a two-hundred day moving average of $313.21. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm earned $0.28 EPS. The company’s quarterly revenue was up 55.1% compared to the same quarter last year. On average, research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on COIN shares. Rothschild Redb upgraded Coinbase Global from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. China Renaissance boosted their price target on Coinbase Global from $444.60 to $479.30 in a research report on Monday, November 3rd. Barclays reduced their price objective on Coinbase Global from $361.00 to $357.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. President Capital lifted their target price on shares of Coinbase Global from $401.00 to $472.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $399.94.

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.