Swedbank AB Buys 730 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Swedbank AB boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,206 shares of the cryptocurrency exchange’s stock after purchasing 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 institutional investors have also modified their holdings of the company. Empowered Funds LLC lifted its position in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after acquiring an additional 43 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in shares of Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after purchasing an additional 51 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Coinbase Global by 0.4% in the 2nd quarter. Fifth Third Bancorp now owns 12,498 shares of the cryptocurrency exchange’s stock worth $2,777,000 after purchasing an additional 55 shares in the last quarter. Versant Capital Management Inc grew its stake in Coinbase Global by 75.0% during the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock worth $30,000 after buying an additional 57 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Coinbase Global by 12.1% during the 2nd quarter. Larson Financial Group LLC now owns 530 shares of the cryptocurrency exchange’s stock valued at $118,000 after buying an additional 57 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on COIN shares. Barclays boosted their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Mizuho boosted their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Needham & Company LLC raised their price target on shares of Coinbase Global from $290.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $255.22.

Coinbase Global Price Performance

NASDAQ:COIN 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 52 week low of $112.18 and a 52 week high of $341.75. The stock’s 50-day moving average price is $217.21 and its 200-day moving average price is $215.90. The stock has a market capitalization of $73.43 billion, a PE ratio of 50.05 and a beta of 3.34.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) earnings per share. As a group, equities analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the sale, the chief operating officer now directly owns 187,601 shares in the company, valued at approximately $30,436,386.24. The trade was a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alesia J. Haas sold 5,250 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the completion of the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. This represents a 3.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,966 shares of company stock valued at $47,064,922. 23.43% of the stock is owned by corporate insiders.

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.