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

Interchange Capital Partners LLC trimmed its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 6.1% during the fourth quarter, Holdings Channel reports. The fund owned 2,889 shares of the cryptocurrency exchange’s stock after selling 188 shares during the period. Interchange Capital Partners LLC’s holdings in Coinbase Global were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC purchased a new position in Coinbase Global in the third quarter valued at about $409,919,000. Proficio Capital Partners LLC raised its position in shares of Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the period. Geode Capital Management LLC raised its position in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $56,142,000. Finally, Trivest Advisors Ltd bought a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $54,869,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $189.86 on Monday. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The stock has a market capitalization of $48.20 billion, a price-to-earnings ratio of 19.99 and a beta of 3.66. The company has a fifty day moving average of $247.26 and a 200-day moving average of $241.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This represents a 97.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,034 shares of company stock valued at $57,835,408 in the last quarter. Company insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on COIN shares. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Bank of America lowered their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research report on Thursday. They issued a “neutral” rating and a $195.00 price target on the stock. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.72.

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.