AMF Tjanstepension AB Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

AMF Tjanstepension AB acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,681 shares of the cryptocurrency exchange’s stock, valued at approximately $4,638,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC boosted its stake in shares of Coinbase Global by 20.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 38,634 shares of the cryptocurrency exchange’s stock worth $6,883,000 after purchasing an additional 6,466 shares during the period. Principal Financial Group Inc. boosted its stake in shares of 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 period. Capital Performance Advisors LLP purchased a new position in shares of Coinbase Global during the 3rd quarter worth about $116,000. Verdence Capital Advisors LLC boosted its stake in shares of Coinbase Global by 7.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,140 shares of the cryptocurrency exchange’s stock worth $1,272,000 after purchasing an additional 518 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Coinbase Global by 76.6% during the 3rd quarter. Assetmark Inc. now owns 2,879 shares of the cryptocurrency exchange’s stock worth $513,000 after purchasing an additional 1,249 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COIN shares. Keefe, Bruyette & Woods lifted their price target 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. Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. The Goldman Sachs Group decreased their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $311.21.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $137,322.82. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the sale, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 in the last 90 days. Insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 1.5 %

NASDAQ:COIN opened at $217.45 on Friday. The firm has a 50-day simple moving average of $262.21 and a 200-day simple moving average of $241.45. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The firm has a market cap of $55.21 billion, a P/E ratio of 22.89 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping 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%. Equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.