Handelsbanken Fonder AB Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

Handelsbanken Fonder AB lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 85.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,649 shares of the cryptocurrency exchange’s stock after buying an additional 32,518 shares during the period. Handelsbanken Fonder AB’s holdings in Coinbase Global were worth $17,542,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of COIN. Clear Street Derivatives LLC bought a new position in Coinbase Global in the third quarter valued at about $409,919,000. Geode Capital Management LLC lifted its holdings in Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares during the period. Azora Capital LP lifted its holdings in Coinbase Global by 214.1% in the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after acquiring an additional 220,078 shares during the period. Holocene Advisors LP bought a new position in Coinbase Global in the third quarter valued at about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global in the third quarter valued at about $29,756,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COIN. HC Wainwright reissued a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday. Mizuho lowered their target price on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods increased their target price on Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a report on Tuesday. Bank of America increased their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays raised their price objective on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $304.50.

Coinbase Global Stock Down 8.3 %

Shares of COIN opened at $235.38 on Friday. The business’s 50 day moving average is $275.76 and its 200 day moving average is $239.79. The company has a market capitalization of $58.93 billion, a PE ratio of 24.78 and a beta of 3.61. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.30, for a total transaction of $7,682,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $161,639.80. This trade represents a 97.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 26,649 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $308.14, for a total value of $8,211,622.86. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,209,894.38. This represents a 71.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 334,306 shares of company stock valued at $97,300,651. 23.43% of the stock is owned by company insiders.

Coinbase Global Company 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.