Sphera Management Technology Funds Ltd Takes $497,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sphera Management Technology Funds Ltd acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,000 shares of the cryptocurrency exchange’s stock, valued at approximately $497,000.

A number of other hedge funds also recently bought and sold shares of the stock. McElhenny Sheffield Capital Management LLC bought a new position in shares of Coinbase Global in the 4th quarter worth $252,000. Savant Capital LLC bought a new position in Coinbase Global in the fourth quarter worth about $591,000. Principal Financial Group Inc. raised its holdings in Coinbase Global by 219.2% in the third 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 in the last quarter. Oxinas Partners Wealth Management LLC purchased a new stake in shares of Coinbase Global during the fourth quarter valued at about $265,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Coinbase Global by 33.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange’s stock valued at $25,729,000 after buying an additional 25,972 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $266.46 on Monday. The company has a market capitalization of $67.65 billion, a P/E ratio of 28.05 and a beta of 3.62. The business’s 50-day moving average is $191.65 and its two-hundred day moving average is $244.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN) last released 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 return on equity of 20.64% and a net margin of 39.34%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the prior year, the company posted $2.53 EPS. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the transaction, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at $22,973,200. This trade represents a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul Grewal sold 1,952 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $250.00, for a total transaction of $488,000.00. Following the sale, the insider now directly owns 81,773 shares of the company’s stock, valued at $20,443,250. This represents a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,764 shares of company stock valued at $35,671,592 in the last ninety days. 17.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on COIN shares. JMP Securities reiterated a “market outperform” rating and set a $400.00 price objective on shares of Coinbase Global in a research note on Thursday, May 8th. Needham & Company LLC cut their price target on shares of Coinbase Global from $330.00 to $270.00 and set a “buy” rating on the stock in a report on Monday, May 12th. HC Wainwright reiterated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Cantor Fitzgerald started coverage on Coinbase Global in a research note on Tuesday, April 8th. They set an “overweight” rating and a $245.00 target price on the stock. Finally, Benchmark upped their target price on Coinbase Global from $252.00 to $301.00 and gave the company a “buy” rating in a research report on Friday. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $266.40.

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.