Handelsbanken Fonder AB Increases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Handelsbanken Fonder AB lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 85.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 70,649 shares of the cryptocurrency exchange’s stock after buying an additional 32,518 shares during the period. Handelsbanken Fonder AB’s holdings in Coinbase Global were worth $17,542,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Private Advisor Group LLC boosted its holdings in shares of Coinbase Global by 18.4% in the 4th quarter. Private Advisor Group LLC now owns 18,617 shares of the cryptocurrency exchange’s stock worth $4,623,000 after purchasing an additional 2,896 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Coinbase Global by 2.6% in the 4th quarter. Global Retirement Partners LLC now owns 2,750 shares of the cryptocurrency exchange’s stock worth $683,000 after purchasing an additional 70 shares during the period. Bank of Jackson Hole Trust purchased a new position in shares of Coinbase Global in the 4th quarter worth approximately $346,000. Atria Wealth Solutions Inc. boosted its holdings in shares of Coinbase Global by 65.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 13,339 shares of the cryptocurrency exchange’s stock worth $3,312,000 after purchasing an additional 5,266 shares during the period. Finally, Fortis Group Advisors LLC purchased a new position in shares of Coinbase Global in the 4th quarter worth approximately $2,079,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.30, for a total value of $7,682,500.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $161,639.80. The trade was a 97.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $295.10, for a total value of $2,246,891.40. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $3,074,056.70. This trade represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 334,306 shares of company stock valued at $97,300,651. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 8.3 %

Shares of NASDAQ COIN opened at $235.38 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The business has a fifty day simple moving average of $275.76 and a two-hundred day simple moving average of $239.79. The firm has a market cap of $58.93 billion, a PE ratio of 24.78 and a beta of 3.61. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COIN. Oppenheimer dropped their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Canaccord Genuity Group raised their price target on Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Barclays raised their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. JMP Securities raised their price target on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Finally, Mizuho decreased their price target on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.50.

About Coinbase Global

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.