Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP increased its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 445.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 408,500 shares of the cryptocurrency exchange's stock after buying an additional 333,600 shares during the period. Two Sigma Advisers LP owned about 0.16% of Coinbase Global worth $101,431,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global during the fourth quarter worth approximately $27,000. Atala Financial Inc purchased a new stake in Coinbase Global during the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares during the period. Studio Investment Management LLC purchased a new stake in Coinbase Global during the fourth quarter worth approximately $38,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global during the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Up 5.0%

NASDAQ COIN traded up $12.96 during trading hours on Thursday, reaching $271.95. 15,565,837 shares of the company traded hands, compared to its average volume of 10,200,496. The stock has a market capitalization of $69.04 billion, a PE ratio of 28.63 and a beta of 3.62. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a 50 day moving average of $196.29 and a two-hundred day moving average of $245.52. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

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

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares of the company's stock, valued at approximately $17,656,524.09. This represents a 11.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the sale, the director now directly owns 10,417 shares in the company, valued at $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,764 shares of company stock valued at $35,671,592. Company insiders own 17.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on COIN shares. Rosenblatt Securities reiterated a "buy" rating and set a $260.00 price objective on shares of Coinbase Global in a research note on Monday, May 12th. Monness Crespi & Hardt upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a research note on Tuesday, May 13th. Oppenheimer set a $293.00 price objective on shares of Coinbase Global in a research note on Thursday, May 15th. Mizuho decreased their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Finally, Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a research note on Monday, May 12th. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $266.40.

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.