Xponance Inc. Has $8.68 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Xponance Inc. grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,937 shares of the cryptocurrency exchange’s stock after buying an additional 3,473 shares during the quarter. Xponance Inc.’s holdings in Coinbase Global were worth $8,675,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global during the fourth quarter valued at about $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global during the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global during the third quarter valued at about $25,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Coinbase Global during the fourth quarter valued at about $50,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Mizuho dropped their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Rosenblatt Securities assumed coverage on shares of Coinbase Global in a research report on Friday, March 7th. They set a “buy” rating and a $305.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research report on Thursday, February 13th. Finally, Barclays raised their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $322.78.

Insider Activity

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on 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 owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 over the last quarter. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $181.14 on Wednesday. The company’s 50 day moving average is $251.44 and its 200-day moving average is $241.13. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market cap of $45.99 billion, a P/E ratio of 19.07 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. 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.