Interchange Capital Partners LLC Has $1.01 Million Position in Coinbase Global, Inc. $COIN

Interchange Capital Partners LLC reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,872 shares of the cryptocurrency exchange’s stock after selling 173 shares during the period. Interchange Capital Partners LLC’s holdings in Coinbase Global were worth $1,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global in the 2nd quarter valued at $30,000. City State Bank acquired a new stake in Coinbase Global in the 2nd quarter valued at $33,000. Bessemer Group Inc. increased its stake in Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 113 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in Coinbase Global in the 2nd quarter valued at $55,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global in the 1st quarter valued at about $30,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total transaction of $3,458,800.00. Following the transaction, the insider owned 82,328 shares in the company, valued at $28,475,608.64. This represents a 10.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,657 shares of company stock valued at $67,479,576. Company insiders own 17.65% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on shares of Coinbase Global from $260.00 to $405.00 and gave the company a “hold” rating in a research note on Tuesday, July 29th. Compass Point lifted their price target on Coinbase Global from $248.00 to $277.00 and gave the stock a “sell” rating in a report on Monday, October 20th. Rosenblatt Securities reiterated a “buy” rating and set a $470.00 price target on shares of Coinbase Global in a report on Friday, August 1st. Barclays reduced their price target on Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a report on Wednesday, October 8th. Finally, Argus began coverage on Coinbase Global in a report on Monday, July 14th. They set a “buy” rating and a $400.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $384.12.

Coinbase Global Stock Performance

Shares of COIN stock opened at $354.46 on Friday. The company has a market capitalization of $91.07 billion, a price-to-earnings ratio of 34.28 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The company has a 50-day simple moving average of $329.63 and a 200 day simple moving average of $299.59. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. On average, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share 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.