Raiffeisen Bank International AG Takes $594,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Raiffeisen Bank International AG purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,316 shares of the cryptocurrency exchange's stock, valued at approximately $594,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Ratan Capital Management LP acquired a new position in Coinbase Global during the fourth quarter valued at approximately $6,367,000. Ribbit Management Company LLC increased its stake in shares of Coinbase Global by 33.9% in the 4th quarter. Ribbit Management Company LLC now owns 527,600 shares of the cryptocurrency exchange's stock valued at $131,003,000 after purchasing an additional 133,500 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of Coinbase Global by 134.1% during the 4th quarter. Quantinno Capital Management LP now owns 8,661 shares of the cryptocurrency exchange's stock worth $2,151,000 after buying an additional 4,961 shares in the last quarter. Patient Capital Management LLC lifted its position in shares of Coinbase Global by 15.0% during the 4th quarter. Patient Capital Management LLC now owns 203,401 shares of the cryptocurrency exchange's stock worth $50,504,000 after buying an additional 26,569 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in Coinbase Global by 0.5% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 22,980 shares of the cryptocurrency exchange's stock valued at $6,106,000 after buying an additional 121 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Analyst Ratings Changes

COIN has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their price target on Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a research note on Friday, May 9th. Oppenheimer set a $293.00 target price on shares of Coinbase Global in a report on Thursday, May 15th. Compass Point raised Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a research report on Monday, May 12th. Piper Sandler upped their price target on Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Coinbase Global has an average rating of "Moderate Buy" and a consensus price target of $266.40.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at $22,973,200. This represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. This represents a 11.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,764 shares of company stock valued at $35,671,592. 17.65% of the stock is owned by company insiders.

Coinbase Global Stock Down 3.5%

Coinbase Global stock traded down $9.46 during midday trading on Friday, reaching $262.49. The stock had a trading volume of 4,518,772 shares, compared to its average volume of 10,178,520. The company has a fifty day moving average price of $197.95 and a two-hundred day moving average price of $246.11. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $66.64 billion, a P/E ratio of 27.64 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period last year, the business posted $2.53 EPS. The company's revenue was up 24.2% on a year-over-year basis. As a group, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

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.