DekaBank Deutsche Girozentrale Acquires 1,349 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

DekaBank Deutsche Girozentrale grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 5.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,094 shares of the cryptocurrency exchange’s stock after acquiring an additional 1,349 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Coinbase Global were worth $7,075,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Coinbase Global by 18.4% during the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the last quarter. Norges Bank acquired a new position in Coinbase Global during the fourth quarter valued at approximately $202,936,000. a16z Perennial Management L.P. acquired a new position in Coinbase Global during the fourth quarter valued at approximately $147,646,000. Charles Schwab Investment Management Inc. boosted its position in Coinbase Global by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,689 shares of the cryptocurrency exchange’s stock valued at $114,211,000 after purchasing an additional 37,847 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after purchasing an additional 486,512 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $225.70, for a total value of $101,565.00. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $212.08, for a total transaction of $3,473,870.40. Following the completion of the sale, the director now directly owns 4,662 shares of the company’s stock, valued at $988,716.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer N. Jones sold 450 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $225.70, for a total value of $101,565.00. Following the transaction, the chief accounting officer now directly owns 1,686 shares of the company’s stock, valued at $380,530.20. The disclosure for this sale can be found here. Insiders sold a total of 258,601 shares of company stock valued at $56,091,678 over the last ninety days. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Down 3.9 %

Shares of NASDAQ:COIN traded down $8.20 during midday trading on Friday, reaching $204.44. The company’s stock had a trading volume of 10,063,929 shares, compared to its average volume of 8,342,275. The firm has a market capitalization of $50.20 billion, a price-to-earnings ratio of 40.81 and a beta of 3.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50 day moving average price of $234.52 and a two-hundred day moving average price of $214.76. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. As a group, analysts forecast that Coinbase Global, Inc. will post 4.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent analyst reports. Wedbush raised their price objective on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research report on Friday, July 19th. Barclays raised their price objective on Coinbase Global from $196.00 to $206.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Singular Research reaffirmed a “buy” rating on shares of Coinbase Global in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $245.27.

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.