Ratan Capital Management LP Acquires New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Ratan Capital Management LP acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,643 shares of the cryptocurrency exchange's stock, valued at approximately $6,367,000. Coinbase Global makes up about 1.0% of Ratan Capital Management LP's investment portfolio, making the stock its 22nd largest position.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Coinbase Global during the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment purchased a new position in shares of Coinbase Global during the 4th quarter valued at $372,450,000. Proficio Capital Partners LLC increased its holdings in shares of 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 purchasing an additional 417,036 shares during the period. Wellington Management Group LLP raised its position 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 worth $81,612,000 after buying an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Coinbase Global by 614.8% during 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.

Analyst Ratings Changes

A number of equities analysts have recently commented on COIN shares. Mizuho decreased their price target on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating on the stock in a report on Tuesday, March 11th. HC Wainwright reissued a "buy" rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Keefe, Bruyette & Woods increased their price objective 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. JPMorgan Chase & Co. decreased their target price on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, Benchmark started coverage on shares of Coinbase Global in a research report on Wednesday, April 23rd. They set a "buy" rating and a $252.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $262.75.

Coinbase Global Stock Performance

Shares of COIN stock opened at $263.41 on Thursday. The stock has a market cap of $66.87 billion, a PE ratio of 27.73 and a beta of 3.62. 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, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company's fifty day moving average price is $188.85 and its 200-day moving average price is $243.55.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.22 billion. During the same period last year, the company posted $2.53 earnings per share. The business's revenue for the quarter was up 24.2% compared to the same quarter last year. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction that occurred on 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 owns 114,866 shares of the company's stock, valued at approximately $22,973,200. The trade was a 6.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares in the company, valued at $17,656,524.09. The trade was a 11.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,128 shares of company stock valued at $23,511,368. 17.65% of the stock is owned by corporate insiders.

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.

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