Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of 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. The firm acquired 111,756 shares of the cryptocurrency exchange's stock, valued at approximately $27,749,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global during the 4th quarter worth $27,000. Atala Financial Inc bought a new position in Coinbase Global during the 4th quarter worth $27,000. Mpwm Advisory Solutions LLC bought a new position in Coinbase Global during the 4th quarter worth $35,000. Ameriflex Group Inc. bought a new position in Coinbase Global during the 4th quarter worth $37,000. Finally, Studio Investment Management LLC bought a new position in Coinbase Global during the 4th quarter worth $38,000. Institutional investors own 68.84% of the company's stock.

Coinbase Global Trading Down 1.1%

Shares of COIN stock traded down $2.72 during mid-day trading on Friday, hitting $246.12. The company's stock had a trading volume of 6,028,897 shares, compared to its average volume of 10,170,819. The company's fifty day simple moving average is $205.62 and its 200-day simple moving average is $245.59. 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 company has a market cap of $62.48 billion, a PE ratio of 25.91 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data 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 period last year, the business posted $2.53 earnings per share. The business's revenue was up 24.2% on a year-over-year basis. As a group, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lowered their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Citigroup reaffirmed a "neutral" rating on shares of Coinbase Global in a report on Thursday, May 8th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $260.00 target price (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday. Bank of America reduced their target price on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Finally, Piper Sandler raised their target price on Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Eleven 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $266.10.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 12,931 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $267.29, for a total value of $3,456,326.99. Following the completion of the sale, the insider now directly owns 84,280 shares of the company's stock, valued at $22,527,201.20. The trade was a 13.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alesia J. Haas sold 7,575 shares of the business's stock in a transaction dated Monday, March 24th. The shares were 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. The trade was a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 170,717 shares of company stock valued at $36,801,351 in the last three months. Corporate insiders own 17.65% of the company's stock.

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.