Interchange Capital Partners LLC Sells 173 Shares of Coinbase Global, Inc. $COIN

Interchange Capital Partners LLC cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,872 shares of the cryptocurrency exchange’s stock after selling 173 shares during the quarter. Interchange Capital Partners LLC’s holdings in Coinbase Global were worth $1,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COIN. Groupama Asset Managment boosted its stake in Coinbase Global by 100.0% in the first quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after acquiring an additional 1,500,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Coinbase Global by 4.8% in the first quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock valued at $3,323,084,000 after acquiring an additional 875,359 shares during the last quarter. Nuveen LLC bought a new position in Coinbase Global in the first quarter valued at approximately $83,454,000. Amundi boosted its stake in Coinbase Global by 44.1% in the first quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after acquiring an additional 481,786 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Coinbase Global by 2,647.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 198,526 shares of the cryptocurrency exchange’s stock valued at $66,572,000 after acquiring an additional 191,300 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Trading Up 9.8%

Shares of NASDAQ:COIN opened at $354.46 on Friday. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. 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 company’s fifty day simple moving average is $329.63 and its 200 day simple moving average is $299.59. The firm has a market cap of $91.07 billion, a price-to-earnings ratio of 34.28 and a beta of 3.68.

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

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 4,400 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the sale, the chief financial officer directly owned 84,820 shares in the company, valued at $29,212,856.20. This trade represents a 4.93% 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, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $361.32, for a total transaction of $9,033,000.00. Following the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,054.32. The trade was a 97.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,657 shares of company stock worth $67,479,576 over the last ninety days. Company insiders own 17.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on COIN. Argus began coverage on shares of Coinbase Global in a research note on Monday, July 14th. They issued a “buy” rating and a $400.00 price objective on the stock. Compass Point increased their target price on shares of Coinbase Global from $248.00 to $277.00 and gave the stock a “sell” rating in a report on Monday, October 20th. JPMorgan Chase & Co. upgraded shares of Coinbase Global from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $342.00 to $404.00 in a report on Friday. HC Wainwright reiterated a “sell” rating and issued a $300.00 target price on shares of Coinbase Global in a report on Friday, August 1st. Finally, UBS Group set a $404.00 target price on shares of Coinbase Global in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $384.12.

Coinbase Global 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.