XTX Topco Ltd Sells 8,625 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

XTX Topco Ltd decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 65.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,542 shares of the cryptocurrency exchange's stock after selling 8,625 shares during the period. XTX Topco Ltd's holdings in Coinbase Global were worth $1,128,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in COIN. Wellington Management Group LLP grew its position in Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange's stock valued at $4,648,000 after acquiring an additional 16,363 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Coinbase Global by 47.3% during the 3rd quarter. MML Investors Services LLC now owns 12,550 shares of the cryptocurrency exchange's stock valued at $2,236,000 after purchasing an additional 4,032 shares during the last quarter. Virtu Financial LLC bought a new stake in Coinbase Global in the third quarter worth $3,866,000. Wilmington Savings Fund Society FSB purchased a new stake in Coinbase Global during the third quarter valued at about $94,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock worth $9,558,000 after buying an additional 36,843 shares during the period. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Up 1.6 %

NASDAQ COIN traded up $2.82 during trading hours on Friday, reaching $175.03. 5,118,506 shares of the company's stock traded hands, compared to its average volume of 9,680,447. The firm has a market cap of $44.44 billion, a PE ratio of 18.42 and a beta of 3.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The firm has a 50-day simple moving average of $200.17 and a 200 day simple moving average of $241.39.

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

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 7,575 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. The trade was a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction on Monday, April 14th. The stock was sold at an average price of $178.79, for a total value of $2,681,850.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $94,043.54. The trade was a 96.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 166,805 shares of company stock valued at $41,907,752 in the last quarter. 23.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COIN. Mizuho reduced their price target on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and set a $350.00 price target on shares of Coinbase Global in a report on Friday, February 21st. Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective on the stock. Canaccord Genuity Group raised their target price on Coinbase Global from $280.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods upped their price target on Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $297.95.

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.