Matauro LLC Buys New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Matauro LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 946 shares of the cryptocurrency exchange’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clear Street Derivatives LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth about $409,919,000. Geode Capital Management LLC increased its position in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares during the last quarter. Azora Capital LP raised its stake in Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after buying an additional 220,078 shares during the period. Holocene Advisors LP acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $29,756,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

NASDAQ COIN opened at $235.38 on Friday. The firm’s 50 day simple moving average is $275.76 and its 200 day simple moving average is $239.79. The firm has a market capitalization of $58.93 billion, a price-to-earnings ratio of 24.78 and a beta of 3.61. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75.

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%. As a group, 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 research analysts recently weighed in on COIN shares. HC Wainwright reissued a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a report on Friday. Bank of America increased their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays raised their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Mizuho decreased their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group lowered their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $304.50.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $161,639.80. This represents a 97.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 26,649 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $308.14, for a total value of $8,211,622.86. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,209,894.38. This trade represents a 71.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 334,306 shares of company stock valued at $97,300,651 over the last ninety days. 23.43% of the stock is owned by corporate insiders.

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.