Xponance Inc. Has $7.04 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Xponance Inc. lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 114.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,695 shares of the cryptocurrency exchange’s stock after acquiring an additional 16,912 shares during the quarter. Xponance Inc.’s holdings in Coinbase Global were worth $7,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Concord Wealth Partners grew its position in Coinbase Global by 322.2% during the first quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 87 shares in the last quarter. Mather Group LLC. bought a new position in Coinbase Global during the first quarter valued at about $32,000. Crewe Advisors LLC raised its holdings in Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after acquiring an additional 104 shares in the last quarter. Finally, Lynx Investment Advisory bought a new stake in shares of Coinbase Global in the 2nd quarter worth approximately $29,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.95, for a total value of $335,925.00. Following the completion of the transaction, the chief operating officer now directly owns 205,971 shares of the company’s stock, valued at approximately $46,127,205.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $115,883.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.95, for a total value of $335,925.00. Following the completion of the transaction, the chief operating officer now directly owns 205,971 shares of the company’s stock, valued at $46,127,205.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,562 shares of company stock valued at $20,920,899. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global Price Performance

NASDAQ:COIN opened at $170.22 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $197.39 and its two-hundred day moving average price is $221.00. Coinbase Global, Inc. has a 12-month low of $69.63 and a 12-month high of $283.48. The firm has a market capitalization of $41.80 billion, a price-to-earnings ratio of 33.98 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company’s revenue for the quarter was up 104.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.42) EPS. On average, analysts anticipate that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the topic of several recent research reports. Compass Point decreased their target price on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. The Goldman Sachs Group reduced their target price on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Bank of America lowered their price target on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. HC Wainwright cut their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, JMP Securities restated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $246.06.

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.