Soros Capital Management LLC Makes New $2.41 Million Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Soros Capital Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,700 shares of the cryptocurrency exchange's stock, valued at approximately $2,409,000.

A number of other hedge funds have also recently added to or reduced their stakes in COIN. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth $27,000. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% during the 4th 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. Cullen Frost Bankers Inc. bought a new position in Coinbase Global in the 4th quarter valued at approximately $50,000. Finally, Bogart Wealth LLC boosted its position in Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock valued at $52,000 after buying an additional 149 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 15,000 shares of Coinbase Global stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $178.79, for a total transaction of $2,681,850.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at $94,043.54. The trade was a 96.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares of the company's stock, valued at $22,973,200. The trade was a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,611 shares of company stock worth $34,376,005. Insiders own 23.43% of the company's stock.

Coinbase Global Stock Up 2.5 %

Shares of NASDAQ COIN traded up $4.80 during midday trading on Wednesday, hitting $194.80. 9,848,051 shares of the stock traded hands, compared to its average volume of 9,691,732. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The business has a 50 day moving average price of $194.42 and a two-hundred day moving average price of $241.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market cap of $49.46 billion, a PE ratio of 20.51 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on COIN shares. HC Wainwright reissued a "buy" rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Mizuho lowered their price objective on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a "neutral" rating and a $195.00 target price on the stock. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research note on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research note on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $295.65.

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.