Capula Management Ltd Raises Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Capula Management Ltd raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 101.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,228 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,128 shares during the period. Capula Management Ltd’s holdings in Coinbase Global were worth $1,050,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after purchasing an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in shares of Coinbase Global in the 4th quarter worth about $252,000. Virtu Financial LLC bought a new position in shares of Coinbase Global during the third quarter valued at approximately $3,866,000. Savant Capital LLC acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $591,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after purchasing an additional 36,843 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $157.28 on Tuesday. The stock has a market cap of $39.93 billion, a PE ratio of 16.56 and a beta of 3.65. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $224.58 and a 200-day simple moving average of $243.09.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COIN has been the subject of several analyst reports. Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. The Goldman Sachs Group began coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price for the company. Barclays cut their price target on Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating on the stock in a report on Monday. Bank of America decreased their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Finally, Canaccord Genuity Group upped their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $305.89.

Insider Activity

In other news, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. The trade was a 3.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $88,646.78. This represents a 96.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,767 shares of company stock worth $48,326,134 in the last ninety days. Corporate insiders own 23.43% of the company’s stock.

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.