21,701 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Virtu Financial LLC

Virtu Financial LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 21,701 shares of the cryptocurrency exchange's stock, valued at approximately $3,866,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Banco Santander S.A. grew its position in Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange's stock valued at $26,531,000 after acquiring an additional 16,737 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange's stock valued at $477,000 after purchasing an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global in the 3rd quarter worth $29,756,000. Lindbrook Capital LLC lifted its stake in Coinbase Global by 30.2% in the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange's stock worth $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Coinbase Global during the second quarter valued at about $2,908,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 1.4 %

Coinbase Global stock traded down $4.28 on Thursday, hitting $309.53. 6,355,943 shares of the stock traded hands, compared to its average volume of 11,272,936. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The firm has a market cap of $77.49 billion, a P/E ratio of 53.96 and a beta of 3.56. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The business's fifty day simple moving average is $251.09 and its 200 day simple moving average is $224.01.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm's revenue was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.01) earnings per share. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Insider Activity

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares of the company's stock, valued at approximately $33,150,716.50. The trade was a 3.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 272,220 shares of company stock worth $80,030,608. Insiders own 23.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COIN. Needham & Company LLC boosted their target price on Coinbase Global from $375.00 to $420.00 and gave the company a "buy" rating in a research note on Monday. Monness Crespi & Hardt started coverage on Coinbase Global in a research report on Monday, October 28th. They issued a "buy" rating and a $245.00 price objective for the company. The Goldman Sachs Group raised their target price on shares of Coinbase Global from $183.00 to $397.00 and gave the stock a "neutral" rating in a report on Monday, December 2nd. Bank of America upped their price target on shares of Coinbase Global from $196.00 to $214.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $276.22.

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.