QRG Capital Management Inc. Sells 263 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

QRG Capital Management Inc. lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,480 shares of the cryptocurrency exchange’s stock after selling 263 shares during the period. QRG Capital Management Inc.’s holdings in Coinbase Global were worth $8,065,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Clear Street Derivatives LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $409,919,000. Proficio Capital Partners LLC increased its stake in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares during the period. Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Azora Capital LP lifted its stake in Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after acquiring an additional 220,078 shares during the period. Finally, Holocene Advisors LP bought a new position in Coinbase Global during the 3rd quarter worth about $38,535,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $208.37 on Friday. The stock’s fifty day moving average price is $269.37 and its 200 day moving average price is $240.48. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. 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 $52.90 billion, a price-to-earnings ratio of 21.93 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping 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, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This trade represents a 97.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $305.71, for a total transaction of $3,057,100.00. Following the sale, the insider now owns 69,407 shares in the company, valued at approximately $21,218,413.97. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 237,069 shares of company stock worth $66,488,684. 23.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on COIN shares. Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Canaccord Genuity Group increased their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. HC Wainwright reissued a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research report on Friday, February 21st. Finally, The Goldman Sachs Group dropped their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $311.56.

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.