Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by XTX Topco Ltd

XTX Topco Ltd increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 818.2% during the third quarter, HoldingsChannel.com reports. The fund owned 13,167 shares of the cryptocurrency exchange’s stock after buying an additional 11,733 shares during the period. XTX Topco Ltd’s holdings in Coinbase Global were worth $2,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vienna Asset Management LLC lifted its position in shares of Coinbase Global by 210.0% in the 3rd quarter. Vienna Asset Management LLC now owns 11,132 shares of the cryptocurrency exchange’s stock valued at $1,983,000 after acquiring an additional 7,541 shares in the last quarter. Wellington Management Group LLP raised its stake in Coinbase Global by 168.2% during the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after purchasing an additional 16,363 shares during the period. Stifel Financial Corp lifted its holdings in shares of Coinbase Global by 45.4% in the third quarter. Stifel Financial Corp now owns 43,512 shares of the cryptocurrency exchange’s stock valued at $7,753,000 after purchasing an additional 13,591 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Coinbase Global by 5.6% in the third quarter. Quantinno Capital Management LP now owns 3,700 shares of the cryptocurrency exchange’s stock worth $659,000 after buying an additional 195 shares during the period. Finally, Royal London Asset Management Ltd. boosted its position in shares of Coinbase Global by 5.6% in the third quarter. Royal London Asset Management Ltd. now owns 81,467 shares of the cryptocurrency exchange’s stock worth $14,515,000 after buying an additional 4,300 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $343.62 on Friday. 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 firm has a fifty day simple moving average of $242.71 and a 200-day simple moving average of $222.37. The stock has a market capitalization of $86.03 billion, a price-to-earnings ratio of 58.64 and a beta of 3.57. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm earned ($0.01) EPS. The firm’s revenue was up 78.8% on a year-over-year basis. On average, sell-side analysts expect that Coinbase Global, Inc. will post 4.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Barclays boosted their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC lifted their target price on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Mizuho boosted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. One investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $265.33.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the transaction, the insider now owns 74,956 shares of the company’s stock, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,386,983.38. This trade represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 272,220 shares of company stock worth $80,030,608. Company insiders own 23.43% of the company’s stock.

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.