9,700 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Soros Capital Management LLC

Soros Capital Management LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, Holdings Channel reports. The institutional investor bought 9,700 shares of the cryptocurrency exchange’s stock, valued at approximately $2,409,000.

A number of other large investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in Coinbase Global in the fourth quarter valued at about $536,484,000. Groupama Asset Managment bought a new position in shares of Coinbase Global in the fourth quarter worth about $372,450,000. Proficio Capital Partners LLC boosted its stake in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Coinbase Global by 1,159.9% during the 4th quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock valued at $81,612,000 after purchasing an additional 302,595 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Coinbase Global by 614.8% during the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after purchasing an additional 295,313 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $144,786.76. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at $3,114,162.15. This trade represents a 70.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 166,805 shares of company stock valued at $41,907,752 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $175.03 on Monday. The stock has a market capitalization of $44.44 billion, a price-to-earnings ratio of 18.42 and a beta of 3.65. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock’s 50 day moving average price is $200.17 and its two-hundred day moving average price is $242.48.

Coinbase Global (NASDAQ:COIN) last issued its earnings results 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 net margin of 39.34% and a return on equity of 20.64%. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on COIN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Cantor Fitzgerald assumed coverage on Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 target price for the company. Piper Sandler lifted their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Barclays lowered their price objective on Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating for the company in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of 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 investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.95.

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.