X Square Capital LLC Acquires 1,407 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

X Square Capital LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 84.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,069 shares of the cryptocurrency exchange’s stock after purchasing an additional 1,407 shares during the quarter. X Square Capital LLC’s holdings in Coinbase Global were worth $762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC acquired a new stake in Coinbase Global in the 3rd quarter worth about $409,919,000. Norges Bank acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $536,484,000. Proficio Capital Partners LLC boosted its stake in shares of Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares during the period. Geode Capital Management LLC grew its position in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Coinbase Global during the 4th quarter worth $56,142,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $188.58 on Friday. The firm has a market capitalization of $47.88 billion, a PE ratio of 19.85 and a beta of 3.66. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The stock has a 50-day simple moving average of $241.79 and a two-hundred day simple moving average of $241.51. 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 released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,126,037.53. The trade was a 33.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,609 shares of company stock worth $61,331,908. 23.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on COIN shares. Keefe, Bruyette & Woods raised their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Barclays upped their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research note on Tuesday, February 18th. Bank of America lowered their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Finally, Piper Sandler raised their price objective on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global 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.