Tredje AP fonden Makes New $25.47 Million Investment in Coinbase Global, Inc. $COIN

Tredje AP fonden purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 72,679 shares of the cryptocurrency exchange’s stock, valued at approximately $25,473,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Coinbase Global by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after acquiring an additional 875,359 shares during the period. ARK Investment Management LLC boosted its stake in shares of Coinbase Global by 1.1% during the 1st quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after buying an additional 34,462 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares during the last quarter. Amundi boosted its stake in shares of Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Coinbase Global by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after buying an additional 7,675 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 4,400 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total value of $1,515,404.00. Following the sale, the chief financial officer directly owned 84,820 shares of the company’s stock, valued at $29,212,856.20. This trade represents a 4.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at $190,054.32. This represents a 97.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 205,657 shares of company stock valued at $67,479,576 over the last three months. Company insiders own 17.65% of the company’s stock.

Coinbase Global Stock Performance

COIN stock opened at $343.78 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The firm has a market cap of $88.33 billion, a P/E ratio of 29.74 and a beta of 3.68. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The stock’s 50 day simple moving average is $333.43 and its 200 day simple moving average is $306.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a return on equity of 17.52% and a net margin of 41.99%.The business’s revenue was up 55.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. As a group, equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup increased their target price on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Redburn Partners set a $417.00 target price on Coinbase Global in a research note on Friday, October 3rd. BTIG Research increased their target price on Coinbase Global from $410.00 to $420.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $398.91.

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.