Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 237.5% during the third quarter, HoldingsChannel reports. The firm owned 32,743 shares of the cryptocurrency exchange’s stock after purchasing an additional 23,040 shares during the quarter. QRG Capital Management Inc.’s holdings in Coinbase Global were worth $5,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after buying an additional 2,624,989 shares during the period. Renaissance Technologies LLC increased its stake in shares of Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after acquiring an additional 691,288 shares during the period. Canada Pension Plan Investment Board raised its holdings in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares in the last quarter. American Century Companies Inc. lifted its position in Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after purchasing an additional 435,886 shares during the period. Finally, APEIRON CAPITAL Ltd purchased a new stake in Coinbase Global in the 1st quarter valued at approximately $108,434,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 16,962 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Paul Grewal sold 16,962 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the transaction, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total transaction of $4,013,434.75. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $91,487.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,187 shares of company stock valued at $15,213,544 in the last quarter. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Monness Crespi & Hardt initiated coverage on Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 target price for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays increased their target price on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average price target of $246.28.

Coinbase Global Stock Up 4.1 %

COIN stock opened at $193.96 on Wednesday. The stock has a market cap of $48.20 billion, a PE ratio of 33.10 and a beta of 3.34. The firm’s 50-day simple moving average is $180.63 and its 200 day simple moving average is $208.40. Coinbase Global, Inc. has a fifty-two week low of $84.09 and a fifty-two week high of $283.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current year.

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.