25,643 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by Ratan Capital Management LP

Ratan Capital Management LP bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,643 shares of the cryptocurrency exchange’s stock, valued at approximately $6,367,000. Coinbase Global comprises approximately 1.0% of Ratan Capital Management LP’s holdings, making the stock its 22nd largest position.

Several other institutional investors have also added to or reduced their stakes in the business. SOA Wealth Advisors LLC. increased its stake in shares of Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after purchasing an additional 40 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after purchasing an additional 40 shares during the period. Yousif Capital Management LLC increased its position in Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after buying an additional 44 shares in the last quarter. Capital Advisors Wealth Management LLC raised its stake in shares of Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 45 shares during the period. Finally, IPG Investment Advisors LLC lifted its position in shares of Coinbase Global by 2.0% during the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock valued at $561,000 after buying an additional 45 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COIN has been the subject of several analyst reports. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday. The Goldman Sachs Group increased their price objective on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a “neutral” rating in a research note on Monday. Canaccord Genuity Group restated a “buy” rating and set a $400.00 price objective on shares of Coinbase Global in a research report on Friday, May 9th. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 target price for the company. Finally, Oppenheimer decreased their price target on Coinbase Global from $279.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.75.

Insider Activity at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $200.54, for a total value of $5,013,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $105,484.04. This trade represents a 97.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares of the company’s stock, valued at $17,656,524.09. This trade represents a 11.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,128 shares of company stock valued at $23,511,368. Insiders own 17.65% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $263.41 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $66.87 billion, a price-to-earnings ratio of 27.73 and a beta of 3.62. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $349.75. The stock’s 50 day simple moving average is $188.85 and its two-hundred day simple moving average is $243.55.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the company earned $2.53 EPS. Coinbase Global’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.