X Square Capital LLC Has $296,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

X Square Capital LLC reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 32.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,662 shares of the cryptocurrency exchange’s stock after selling 792 shares during the quarter. X Square Capital LLC’s holdings in Coinbase Global were worth $296,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of COIN. Los Angeles Capital Management LLC acquired a new position in shares of Coinbase Global during the 1st quarter worth about $294,000. Park Avenue Securities LLC acquired a new position in shares of Coinbase Global in the 1st quarter valued at approximately $231,000. APEIRON CAPITAL Ltd bought a new stake in Coinbase Global in the 1st quarter valued at approximately $108,434,000. Sunbelt Securities Inc. lifted its stake in Coinbase Global by 203.0% in the 1st quarter. Sunbelt Securities Inc. now owns 300 shares of the cryptocurrency exchange’s stock valued at $80,000 after acquiring an additional 201 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors lifted its stake in Coinbase Global by 48.9% in the 1st quarter. Vanguard Capital Wealth Advisors now owns 1,858 shares of the cryptocurrency exchange’s stock valued at $493,000 after acquiring an additional 610 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $198.93 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s fifty day moving average price is $180.91 and its two-hundred day moving average price is $210.60. Coinbase Global, Inc. has a one year low of $70.42 and a one year high of $283.48. The firm has a market cap of $48.85 billion, a price-to-earnings ratio of 39.71 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The business’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period last year, the company posted ($0.42) earnings per share. On average, equities analysts forecast that Coinbase Global, Inc. will post 3.92 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the sale, the director now directly owns 7,771 shares in the company, valued at $1,588,703.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Gokul Rajaram sold 400 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the completion of the sale, the director now directly owns 7,771 shares in the company, valued at $1,588,703.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alesia J. Haas sold 5,250 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,187 shares of company stock valued at $13,158,294. 23.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on COIN. Citigroup upgraded Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Barclays upped their price objective on Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. The Goldman Sachs Group dropped their price objective on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Finally, Bank of America dropped their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $242.82.

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.