X Square Capital LLC Makes New $545,000 Investment in Coinbase Global, Inc. (NASDAQ:COIN)

X Square Capital LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,454 shares of the cryptocurrency exchange’s stock, valued at approximately $545,000.

A number of other institutional investors also recently modified their holdings of COIN. Salem Investment Counselors Inc. raised its holdings in Coinbase Global by 162.9% during the 1st quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after acquiring an additional 114 shares during the period. Intech Investment Management LLC raised its stake in shares of Coinbase Global by 454.3% during the 1st quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock valued at $10,752,000 after purchasing an additional 33,240 shares during the period. Paragon Capital Management Ltd lifted its holdings in Coinbase Global by 58.6% during the 1st quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Coinbase Global by 130.5% in the 2nd quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock worth $2,156,000 after purchasing an additional 5,493 shares during the period. Finally, Edgestream Partners L.P. grew its holdings in Coinbase Global by 93.5% during the 1st quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock valued at $3,922,000 after buying an additional 7,148 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 7.7 %

Shares of NASDAQ:COIN opened at $147.35 on Monday. The firm has a market capitalization of $36.61 billion, a P/E ratio of 29.41 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50 day moving average price of $210.96 and a 200-day moving average price of $224.35. Coinbase Global, Inc. has a 52-week low of $69.63 and a 52-week high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business earned ($0.42) earnings per share. The company’s revenue was up 104.8% on a year-over-year basis. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 4.28 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 23,075 shares of Coinbase Global stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $91,487.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Coinbase Global news, COO Emilie Choi sold 8,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $176.09, for a total transaction of $1,408,720.00. Following the sale, the chief operating officer now directly owns 189,101 shares in the company, valued at approximately $33,298,795.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $91,487.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,562 shares of company stock valued at $23,241,279. Insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on COIN. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. HC Wainwright lowered their price objective on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Coinbase Global in a research report on Monday, August 5th. Bank of America lowered their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus price target of $246.06.

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.