Contrarius Group Holdings Ltd Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Contrarius Group Holdings Ltd bought a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 186,884 shares of the cryptocurrency exchange's stock, valued at approximately $46,403,000. Coinbase Global comprises 2.8% of Contrarius Group Holdings Ltd's investment portfolio, making the stock its 13th largest position. Contrarius Group Holdings Ltd owned approximately 0.07% of Coinbase Global as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Clear Street Derivatives LLC bought a new stake in Coinbase Global in the third quarter worth $409,919,000. Proficio Capital Partners LLC raised its position in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange's stock worth $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Geode Capital Management LLC boosted its stake in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock worth $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Coinbase Global during the 4th quarter valued at about $56,142,000. Finally, Trivest Advisors Ltd bought a new stake in Coinbase Global during the 4th quarter valued at about $54,869,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $13.18 during midday trading on Monday, hitting $203.04. The company had a trading volume of 9,458,351 shares, compared to its average volume of 9,666,954. The company has a market cap of $51.55 billion, a price-to-earnings ratio of 21.37 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a fifty day moving average of $246.30 and a two-hundred day moving average of $241.82. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75.

Remove Ads

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the transaction, the director now owns 10,417 shares of the company's stock, valued at approximately $3,230,728.38. This represents a 49.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total value of $2,326,567.54. Following the completion of the sale, the insider now owns 83,313 shares of the company's stock, 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 90 days, insiders have sold 208,034 shares of company stock worth $57,835,408. Company insiders own 23.43% of the company's stock.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent analyst reports. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. Oppenheimer reiterated an "outperform" rating on shares of Coinbase Global in a research note on Monday, February 10th. Canaccord Genuity Group boosted their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Sanford C. Bernstein raised Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, Barclays lifted their price objective on Coinbase Global from $282.00 to $328.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, eleven 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $314.72.

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.