Requisite Capital Management LLC Sells 55 Shares of Coinbase Global, Inc. $COIN

Requisite Capital Management LLC trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,645 shares of the cryptocurrency exchange’s stock after selling 55 shares during the quarter. Requisite Capital Management LLC’s holdings in Coinbase Global were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of COIN. Groupama Asset Managment boosted its position in shares of Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after buying an additional 875,359 shares in the last quarter. Nuveen LLC purchased a new position in shares of Coinbase Global in the first quarter worth $83,454,000. Amundi lifted its holdings in shares of Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock worth $268,850,000 after buying an additional 481,786 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Coinbase Global by 18,515.4% in the first quarter. GAMMA Investing LLC now owns 193,414 shares of the cryptocurrency exchange’s stock worth $33,312,000 after buying an additional 192,375 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on COIN shares. Canaccord Genuity Group reissued a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Needham & Company LLC boosted their target price on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 1st. JMP Securities boosted their target price on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a report on Monday, July 14th. Citigroup upped their price target on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group upped their price target on shares of Coinbase Global from $239.00 to $268.00 and gave the company a “neutral” rating in a research note on Monday, July 7th. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $356.18.

Insider Buying and Selling

In related news, insider Lawrence J. Brock sold 5,903 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total value of $1,838,017.11. Following the sale, the insider directly owned 478 shares of the company’s stock, valued at $148,834.86. This represents a 92.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $322.28, for a total transaction of $8,057,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at $169,519.28. This trade represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 714,515 shares of company stock worth $272,046,775 over the last three months. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

COIN stock opened at $337.49 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. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The stock has a market cap of $86.71 billion, a PE ratio of 32.64 and a beta of 3.68. The company has a 50-day moving average price of $325.38 and a 200 day moving average price of $277.73.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.