Interchange Capital Partners LLC Sells 188 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Interchange Capital Partners LLC cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,889 shares of the cryptocurrency exchange’s stock after selling 188 shares during the quarter. Interchange Capital Partners LLC’s holdings in Coinbase Global were worth $717,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after purchasing an additional 128,802 shares during the period. Blueprint Investment Partners LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $516,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $16,164,000. Sei Investments Co. boosted its position in shares of Coinbase Global by 44.9% during the 4th quarter. Sei Investments Co. now owns 20,938 shares of the cryptocurrency exchange’s stock worth $5,200,000 after acquiring an additional 6,488 shares in the last quarter. Finally, Plancorp LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $236,000. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now directly owns 69,407 shares in the company, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,034 shares of company stock valued at $57,835,408. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. JMP Securities increased their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research report on Tuesday, February 18th. Finally, Rosenblatt Securities began coverage on shares of Coinbase Global in a research report on Friday, March 7th. They issued a “buy” rating and a $305.00 target price on the stock. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Price Performance

COIN 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 company has a fifty day moving average price of $247.26 and a 200-day moving average price of $241.52. The company has a market capitalization of $48.20 billion, a P/E ratio of 19.99 and a beta of 3.66. 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 earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS 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.