Coinbase Global Holdings Downgraded by Entropy Technologies LP
Entropy Technologies LP has made significant changes to its investment in Coinbase Global, Inc. (NASDAQ: COIN). According to its most recent filing with the Securities & Exchange Commission, Entropy Technologies LP decreased its position in Coinbase Global by 78.6% during the first quarter of this year.
The firm owned 1,814 shares of the cryptocurrency exchange's stock after selling 6,654 shares during the period. The value of Entropy Technologies LP's holdings in Coinbase Global was $317,000 at the end of the most recent quarter.
This move is part of a larger trend in institutional investment in Coinbase Global. Other hedge funds have also added to or reduced their stakes in the company. MV Capital Management Inc., for example, bought a new stake in shares of Coinbase Global in the fourth quarter worth about $27,000.