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

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

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Coinbase Global during the 4th quarter worth approximately $536,484,000. Groupama Asset Managment bought a new position in Coinbase Global during the fourth quarter valued at $372,450,000. Proficio Capital Partners LLC increased its position in Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after buying an additional 417,036 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Coinbase Global by 614.8% in the fourth quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock valued at $85,253,000 after buying an additional 295,313 shares during the period. Institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

Shares of COIN traded down $2.39 during mid-day trading on Wednesday, hitting $258.99. 11,639,339 shares of the stock were exchanged, compared to its average volume of 10,173,774. 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 company has a market cap of $65.75 billion, a PE ratio of 27.26 and a beta of 3.62. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The firm has a 50-day moving average of $194.78 and a two-hundred day moving average of $245.43.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm posted $2.53 EPS. The company's revenue for the quarter was up 24.2% on a year-over-year basis. 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

Several research firms have recently weighed in on COIN. JMP Securities reiterated a "market outperform" rating and set a $400.00 price target on shares of Coinbase Global in a research note on Thursday, May 8th. Needham & Company LLC cut their target price on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Oppenheimer set a $293.00 target price on shares of Coinbase Global in a research note on Thursday, May 15th. Mizuho dropped their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Finally, Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of "Moderate Buy" and an average target price of $266.40.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total value of $2,527,950.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at $88,646.78. This represents a 96.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 15,517 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $260.98, for a total value of $4,049,626.66. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $2,718,628.66. The trade was a 59.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,764 shares of company stock worth $35,671,592. Corporate insiders own 17.65% of the company's stock.

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.