Rakuten Securities Inc. Has $4.39 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Rakuten Securities Inc. grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 19.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,659 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,842 shares during the period. Coinbase Global makes up 1.7% of Rakuten Securities Inc.’s portfolio, making the stock its 6th biggest holding. Rakuten Securities Inc.’s holdings in Coinbase Global were worth $4,385,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global during the third quarter valued at about $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in Coinbase Global by 408.0% during the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter worth approximately $50,000. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This represents a 12.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock valued at $60,955,968 in the last quarter. 23.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on COIN shares. JMP Securities increased their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Piper Sandler raised their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $307.89.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $191.69 on Wednesday. The business has a fifty day simple moving average of $259.55 and a two-hundred day simple moving average of $241.43. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $48.67 billion, a P/E ratio of 20.18 and a beta of 3.66. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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 analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share 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.