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

QRG Capital Management Inc. cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of COIN. Clear Street Derivatives LLC bought a new stake in Coinbase Global during the third quarter valued at about $409,919,000. Proficio Capital Partners LLC raised its stake in Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after acquiring an additional 417,036 shares during the period. Geode Capital Management LLC lifted its holdings in Coinbase Global by 10.1% during 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 purchasing an additional 314,388 shares in the last quarter. Azora Capital LP increased its stake in shares of 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 purchasing an additional 220,078 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $38,535,000. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total value of $2,246,891.40. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,074,056.70. This represents a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the transaction, the insider now owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,069 shares of company stock valued at $66,488,684. Company insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of analyst reports. Barclays increased their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Piper Sandler lifted their target price on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. HC Wainwright restated a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research report on Tuesday, February 18th. Finally, Canaccord Genuity Group upped their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $311.56.

Coinbase Global Price Performance

NASDAQ:COIN opened at $208.37 on Friday. The firm has a market capitalization of $52.90 billion, a price-to-earnings ratio of 21.93 and a beta of 3.61. 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 business has a 50 day simple moving average of $269.37 and a 200-day simple moving average of $240.48. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

About Coinbase Global

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.