Virtu Financial LLC Decreases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Virtu Financial LLC reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 37.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 13,527 shares of the cryptocurrency exchange’s stock after selling 8,174 shares during the period. Virtu Financial LLC’s holdings in Coinbase Global were worth $3,359,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. HUB Investment Partners LLC purchased a new stake in shares of Coinbase Global during the 4th quarter worth $584,000. Contrarius Group Holdings Ltd purchased a new stake in shares of Coinbase Global during the 4th quarter worth $46,403,000. Magnetar Financial LLC boosted its position in shares of Coinbase Global by 50.8% during the 4th quarter. Magnetar Financial LLC now owns 20,896 shares of the cryptocurrency exchange’s stock worth $5,188,000 after purchasing an additional 7,036 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Coinbase Global by 5,182.9% during the 4th quarter. Teacher Retirement System of Texas now owns 67,198 shares of the cryptocurrency exchange’s stock worth $16,685,000 after buying an additional 65,926 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in shares of Coinbase Global by 3.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 84,336 shares of the cryptocurrency exchange’s stock worth $20,941,000 after buying an additional 2,869 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 0.3 %

NASDAQ COIN opened at $189.86 on Friday. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a 50-day moving average of $247.26 and a 200-day moving average of $240.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $48.20 billion, a P/E ratio of 19.99 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on COIN. The Goldman Sachs Group began coverage on Coinbase Global in a research note on Thursday. They set a “neutral” rating and a $195.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research note on Thursday, February 13th. Rosenblatt Securities assumed coverage on Coinbase Global in a research note on Friday, March 7th. They set a “buy” rating and a $305.00 price target for the company. Finally, Barclays boosted their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.72.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total value of $3,120,559.83. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $2,846,236.91. This represents a 52.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by company insiders.

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.