Swedbank AB lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 13.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 38,847 shares of the cryptocurrency exchange’s stock after selling 5,984 shares during the quarter. Swedbank AB’s holdings in Coinbase Global were worth $6,783,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock valued at $5,970,285,000 after acquiring an additional 184,043 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Coinbase Global by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock worth $1,374,080,000 after acquiring an additional 189,080 shares during the last quarter. Paradigm Operations LP raised its position in shares of Coinbase Global by 3.3% during the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock worth $963,912,000 after purchasing an additional 134,425 shares during the period. Norges Bank purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $656,744,000. Finally, ARK Investment Management LLC lifted its holdings in shares of Coinbase Global by 6.1% during the fourth quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock valued at $574,832,000 after purchasing an additional 146,388 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.
Coinbase Global Stock Up 0.4%
Coinbase Global stock traded up $0.63 during mid-day trading on Friday, hitting $159.07. The company’s stock had a trading volume of 6,111,167 shares, compared to its average volume of 7,137,718. Coinbase Global, Inc. has a 52-week low of $139.18 and a 52-week high of $444.64. The company has a market cap of $41.91 billion, a PE ratio of 59.80, a price-to-earnings-growth ratio of 5.56 and a beta of 3.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. The firm’s 50 day moving average is $173.89 and its 200 day moving average is $189.89.
Insider Buying and Selling at Coinbase Global
In related news, insider Lawrence J. Brock sold 6,616 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the transaction, the insider directly owned 517 shares of the company’s stock, valued at approximately $97,718.17. The trade was a 92.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 40,647 shares of company stock valued at $7,331,841 in the last 90 days. Corporate insiders own 16.66% of the company’s stock.
Trending Headlines about Coinbase Global
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase gained sympathy buying after Circle received OCC approval to launch a national trust bank, reinforcing a more constructive regulatory backdrop for crypto-related firms. Coinbase Stock Trades Higher After Circle Receives OCC Approval to Open National Trust Bank
- Positive Sentiment: Citizens JMP raised its price target on Coinbase to $325 and kept an outperform rating, which supports the idea that Wall Street still sees significant upside from current levels. Coinbase Global (NASDAQ:COIN) Given New $325.00 Price Target at Citizens Jmp
- Positive Sentiment: Bitcoin strength and reports of a rising “Coinbase Premium” suggested renewed U.S. crypto demand, which can boost Coinbase trading activity and investor expectations for volume-driven revenue. Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant
- Positive Sentiment: Coinbase also received attention for a UK authorization that could help it expand into a broader “everything exchange” offering, a potential long-term growth catalyst. Coinbase UK License Marks Major Step Toward Bringing ‘Everything Exchange’ to Life
- Neutral Sentiment: Analysts and market commentary continued to highlight Coinbase as a high-profile crypto proxy, keeping the stock in focus for traders, but these pieces were more commentary than fresh fundamental news. Is Trending Stock Coinbase Global, Inc. (COIN) a Buy Now?
- Neutral Sentiment: Coinbase’s chief legal officer, Paul Grewal, is stepping down after a successful tenure, but the company said the transition is orderly and succession plans are already in place. Coinbase restores prediction markets trading after technical issue
- Negative Sentiment: Recent analyst updates were mixed, with Barclays cutting its price target to $99 and maintaining an underweight rating, showing that not all analysts are bullish on the stock’s valuation and earnings outlook. Coinbase Global had its price target lowered by Barclays PLC
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on COIN. Robert W. Baird dropped their price target on Coinbase Global from $160.00 to $142.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. Weiss Ratings upgraded shares of Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Benchmark reiterated a “buy” rating and issued a $270.00 target price on shares of Coinbase Global in a report on Wednesday, June 17th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Coinbase Global in a report on Wednesday, June 17th. Finally, Rothschild & Co Redburn upped their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $251.79.
View Our Latest Stock Analysis on Coinbase Global
About Coinbase Global
Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.
Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.
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Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN – Free Report).
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