Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Virtu Financial LLC

Virtu Financial LLC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 37.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global during the 3rd quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. Atala Financial Inc purchased a new position in shares of Coinbase Global during the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after purchasing an additional 106 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock worth $45,000 after purchasing an additional 204 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Price Performance

COIN traded down $1.07 during trading on Tuesday, reaching $201.97. The company's stock had a trading volume of 4,423,348 shares, compared to its average volume of 9,663,730. The company has a market cap of $51.28 billion, a price-to-earnings ratio of 21.31 and a beta of 3.66. The firm has a fifty day simple moving average of $246.30 and a two-hundred day simple moving average of $241.82. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

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

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent research reports. Mizuho dropped their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research note on Tuesday, March 18th. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research note on Tuesday, February 18th. Bank of America reduced their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods raised their price objective on Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $314.72.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 5,700 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 208,034 shares of company stock worth $57,835,408. Company insiders own 23.43% of the company's stock.

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.