9,700 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Soros Capital Management LLC

Soros Capital Management LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,700 shares of the cryptocurrency exchange’s stock, valued at approximately $2,409,000.

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

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,978 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,230,728.38. The trade was a 49.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 166,805 shares of company stock worth $41,907,752. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 1.6 %

NASDAQ:COIN opened at $175.03 on Monday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The firm has a market capitalization of $44.44 billion, a price-to-earnings ratio of 18.42 and a beta of 3.65. 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 stock’s 50 day moving average price is $200.17 and its two-hundred day moving average price is $242.48.

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

Analysts Set New Price Targets

A number of analysts have commented on COIN shares. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a report on Tuesday, February 18th. JMP Securities cut their target price on Coinbase Global from $475.00 to $400.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th. Rosenblatt Securities decreased their target price on Coinbase Global from $305.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, Canaccord Genuity Group boosted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.95.

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.