Raiffeisen Bank International AG Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Raiffeisen Bank International AG acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,316 shares of the cryptocurrency exchange’s stock, valued at approximately $594,000.

Other institutional investors also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new stake in Coinbase Global during the 4th quarter valued at $27,000. Atala Financial Inc bought a new stake in Coinbase Global during the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Brooklands Fund Management Ltd purchased a new position in Coinbase Global in the fourth quarter valued at about $37,245,000. Finally, BNP Paribas bought a new position in Coinbase Global in the fourth quarter worth about $50,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $266.46 on Friday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market cap of $67.65 billion, a PE ratio of 28.05 and a beta of 3.62. The company’s 50 day moving average is $191.65 and its 200 day moving average is $244.29.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the business earned $2.53 EPS. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the sale, the director now owns 10,417 shares in the company, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 168,764 shares of company stock worth $35,671,592. Insiders own 17.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COIN. Oppenheimer lowered their price target on shares of Coinbase Global from $279.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Benchmark raised their target price on shares of Coinbase Global from $252.00 to $301.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group lifted their price target on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a “neutral” rating in a report on Monday, May 12th. Compass Point upgraded Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price objective for the company in a report on Monday, May 12th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $400.00 target price on shares of Coinbase Global in a research note on Friday, May 9th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $265.20.

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.