Two Sigma Advisers LP Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Two Sigma Advisers LP lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 445.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 408,500 shares of the cryptocurrency exchange’s stock after buying an additional 333,600 shares during the period. Two Sigma Advisers LP owned approximately 0.16% of Coinbase Global worth $101,431,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. McElhenny Sheffield Capital Management LLC purchased a new position in Coinbase Global during the 4th quarter worth $252,000. Savant Capital LLC purchased a new position in Coinbase Global during the 4th quarter worth $591,000. Principal Financial Group Inc. grew its position in Coinbase Global by 219.2% during the 3rd 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 during the last quarter. Oxinas Partners Wealth Management LLC purchased a new position in Coinbase Global during the 4th quarter worth $265,000. Finally, Robeco Institutional Asset Management B.V. grew its position in Coinbase Global by 33.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange’s stock worth $25,729,000 after purchasing an additional 25,972 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 9.0%

Shares of NASDAQ COIN opened at $266.46 on Monday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The firm has a 50-day moving average price of $191.65 and a 200 day moving average price of $244.75. The stock has a market capitalization of $67.65 billion, a price-to-earnings ratio of 28.05 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last announced 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 net margin of 39.34% and a return on equity of 20.64%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the business earned $2.53 EPS. The firm’s revenue for the quarter was up 24.2% on a year-over-year basis. Equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 1,952 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total transaction of $488,000.00. Following the completion of the transaction, the insider now directly owns 81,773 shares in the company, valued at approximately $20,443,250. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold 168,764 shares of company stock worth $35,671,592 over the last 90 days. Company insiders own 17.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on COIN shares. Compass Point raised shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 price objective on the stock in a research report on Monday, May 12th. JMP Securities reissued a “market outperform” rating and set a $400.00 price objective on shares of Coinbase Global in a research report on Thursday, May 8th. The Goldman Sachs Group raised their price objective on shares of Coinbase Global from $189.00 to $209.00 and gave the stock a “neutral” rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods raised their price objective on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a “market perform” rating in a research report on Friday, May 9th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research note on Monday, May 12th. 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $265.20.

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.