Xponance Inc. Raises Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Xponance Inc. raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,989 shares of the cryptocurrency exchange's stock after purchasing an additional 1,052 shares during the period. Xponance Inc.'s holdings in Coinbase Global were worth $6,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of COIN. Norges Bank bought a new position in shares of Coinbase Global during the 4th quarter valued at $536,484,000. Groupama Asset Managment bought a new position in shares of Coinbase Global during the 4th quarter valued at $372,450,000. Two Sigma Advisers LP lifted its holdings in shares of Coinbase Global by 445.4% during the 4th quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after buying an additional 333,600 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Coinbase Global by 1,159.9% during the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Coinbase Global by 614.8% during the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock valued at $85,253,000 after buying an additional 295,313 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Down 0.5%

Shares of NASDAQ:COIN opened at $387.06 on Friday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $395.50. The business has a 50 day simple moving average of $282.06 and a two-hundred day simple moving average of $246.32. The firm has a market capitalization of $98.27 billion, a PE ratio of 72.48, a price-to-earnings-growth ratio of 28.35 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter last year, the firm earned $2.53 EPS. The firm's quarterly revenue was up 24.2% on a year-over-year basis. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. HC Wainwright reissued a "sell" rating and set a $300.00 price target (down from $305.00) on shares of Coinbase Global in a report on Thursday. China Renaissance began coverage on Coinbase Global in a report on Tuesday, June 17th. They issued a "buy" rating and a $353.30 target price on the stock. Compass Point raised Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price on the stock in a report on Monday, May 12th. Barclays raised their target price on Coinbase Global from $202.00 to $359.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $298.60.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the sale, the chief executive officer owned 526 shares in the company, valued at approximately $190,732.86. The trade was a 99.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the sale, the director owned 10,417 shares of the company's stock, valued at $2,632,167.56. The trade was a 74.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 685,915 shares of company stock valued at $222,081,432 in the last 90 days. Company insiders own 17.65% of the company's stock.

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.

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