Swedbank AB Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Swedbank AB grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 1.6% in the third quarter, Holdings Channel.com reports. The firm owned 46,206 shares of the cryptocurrency exchange’s stock after acquiring an additional 730 shares during the quarter. Swedbank AB’s holdings in Coinbase Global were worth $8,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in Coinbase Global by 2.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after buying an additional 71,398 shares in the last quarter. Cowen AND Company LLC increased its position in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after purchasing an additional 22,071 shares during the last quarter. Renaissance Technologies LLC raised its stake in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock worth $236,258,000 after purchasing an additional 691,288 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after purchasing an additional 52,856 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock valued at $105,389,000 after buying an additional 435,886 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $188.94, for a total transaction of $283,410.00. Following the sale, the chief operating officer now directly owns 197,101 shares of the company’s stock, valued at $37,240,262.94. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. This represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 178,966 shares of company stock worth $47,064,922 over the last three months. 23.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on COIN shares. Needham & Company LLC lifted their price target on shares of Coinbase Global from $290.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Piper Sandler reissued a “neutral” rating and set a $245.00 price objective on shares of Coinbase Global in a research report on Friday, November 1st. Monness Crespi & Hardt started coverage on shares of Coinbase Global in a research report on Monday, October 28th. They issued a “buy” rating and a $245.00 target price on the stock. Finally, Mizuho boosted their price target on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $255.22.

Coinbase Global Trading Down 6.1 %

Shares of Coinbase Global stock opened at $293.29 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a fifty-two week low of $112.18 and a fifty-two week high of $341.75. The firm has a market cap of $73.43 billion, a price-to-earnings ratio of 50.05 and a beta of 3.34. The business has a fifty day simple moving average of $217.21 and a 200-day simple moving average of $215.90.

Coinbase Global (NASDAQ:COIN) last released 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 firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) EPS. On average, equities analysts forecast that Coinbase Global, Inc. will post 4.27 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.