Requisite Capital Management LLC Reduces Holdings in Coinbase Global, Inc. $COIN

Requisite Capital Management LLC trimmed its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,645 shares of the cryptocurrency exchange’s stock after selling 55 shares during the period. Requisite Capital Management LLC’s holdings in Coinbase Global were worth $577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COIN. GAMMA Investing LLC lifted its position in shares of Coinbase Global by 18,515.4% in the 1st quarter. GAMMA Investing LLC now owns 193,414 shares of the cryptocurrency exchange’s stock worth $33,312,000 after purchasing an additional 192,375 shares during the period. Merit Financial Group LLC increased its stake in shares of Coinbase Global by 50.2% in the 1st quarter. Merit Financial Group LLC now owns 1,949 shares of the cryptocurrency exchange’s stock worth $336,000 after acquiring an additional 651 shares in the last quarter. Smith Anglin Financial LLC increased its stake in shares of Coinbase Global by 12.4% in the 1st quarter. Smith Anglin Financial LLC now owns 2,597 shares of the cryptocurrency exchange’s stock worth $447,000 after acquiring an additional 286 shares in the last quarter. Strategic Planning Group LLC increased its stake in shares of Coinbase Global by 12.4% in the 1st quarter. Strategic Planning Group LLC now owns 13,297 shares of the cryptocurrency exchange’s stock worth $2,290,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Generali Investments Management Co LLC bought a new position in shares of Coinbase Global in the 1st quarter worth about $195,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of COIN stock opened at $337.49 on Wednesday. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average price of $325.38 and a 200-day moving average price of $277.73. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The firm has a market capitalization of $86.71 billion, a PE ratio of 32.64 and a beta of 3.68.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 15,439 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the transaction, the insider directly owned 82,328 shares of the company’s stock, valued at $25,587,542.40. The trade was a 15.79% 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, CEO Brian Armstrong sold 198,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total transaction of $78,897,621.00. Following the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at $209,279.62. The trade was a 99.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 714,515 shares of company stock valued at $272,046,775 over the last three months. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on COIN shares. JMP Securities increased their price target on shares of Coinbase Global from $400.00 to $440.00 and gave the stock a “market outperform” rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Benchmark increased their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Sanford C. Bernstein increased their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Finally, The Goldman Sachs Group lifted their target price on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a “neutral” rating in a report on Monday, July 7th. Thirteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $356.18.

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.