Forsta AP Fonden Purchases 400 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Forsta AP Fonden boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,900 shares of the cryptocurrency exchange’s stock after purchasing an additional 400 shares during the quarter. Forsta AP Fonden’s holdings in Coinbase Global were worth $9,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COIN. Sei Investments Co. boosted its position in shares of Coinbase Global by 22.3% in the second quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock valued at $2,694,000 after acquiring an additional 2,212 shares during the period. AQR Capital Management LLC increased its position in Coinbase Global by 103.8% during the second quarter. AQR Capital Management LLC now owns 30,729 shares of the cryptocurrency exchange’s stock worth $6,829,000 after acquiring an additional 15,652 shares during the period. Mackenzie Financial Corp boosted its holdings in Coinbase Global by 639.4% in the 2nd quarter. Mackenzie Financial Corp now owns 9,205 shares of the cryptocurrency exchange’s stock valued at $2,046,000 after purchasing an additional 7,960 shares during the period. NewEdge Advisors LLC grew its position in shares of Coinbase Global by 7.3% during the 2nd quarter. NewEdge Advisors LLC now owns 4,863 shares of the cryptocurrency exchange’s stock worth $1,081,000 after purchasing an additional 332 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in shares of Coinbase Global by 84.3% during the second quarter. Sunbelt Securities Inc. now owns 553 shares of the cryptocurrency exchange’s stock worth $123,000 after purchasing an additional 253 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COIN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $250.00 to $290.00 in a report on Wednesday. B. Riley assumed coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Barclays raised their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, Oppenheimer cut their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Insiders Place Their Bets

In other news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $254.89, for a total value of $2,548,900.00. Following the completion of the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,940,100. This trade represents a 10.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lawrence J. Brock sold 4,635 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now owns 18,525 shares in the company, valued at approximately $4,631,250. The trade was a 20.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 376,205 shares of company stock valued at $112,487,737. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Stock Up 3.5 %

Shares of NASDAQ COIN opened at $301.30 on Friday. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $75.43 billion, a PE ratio of 51.42 and a beta of 3.59. The company has a 50 day simple moving average of $288.26 and a 200 day simple moving average of $235.66.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. Coinbase Global’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. On average, research analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current year.

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.