Rakuten Securities Inc. Has $4.39 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Rakuten Securities Inc. lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,659 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,842 shares during the quarter. Coinbase Global makes up approximately 1.7% of Rakuten Securities Inc.’s holdings, making the stock its 6th biggest position. Rakuten Securities Inc.’s holdings in Coinbase Global were worth $4,385,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Banco Santander S.A. grew its stake in shares of Coinbase Global by 12.7% during the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after acquiring an additional 16,737 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in Coinbase Global in the 3rd quarter worth approximately $29,756,000. Wellington Management Group LLP boosted its stake in Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after purchasing an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in Coinbase Global in the 4th quarter worth approximately $252,000. Finally, Virtu Financial LLC bought a new position in Coinbase Global in the 3rd quarter worth approximately $3,866,000. 68.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. This represents a 52.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,978 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock worth $60,955,968 over the last quarter. Company insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group dropped their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Barclays upped 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. Rosenblatt Securities assumed coverage on Coinbase Global in a research report on Friday, March 7th. They set a “buy” rating and a $305.00 target price for the company. Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. Finally, Mizuho lowered their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $307.89.

Coinbase Global Stock Performance

COIN stock opened at $191.69 on Wednesday. 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’s fifty day simple moving average is $259.55 and its two-hundred day simple moving average is $241.43. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The firm has a market cap of $48.67 billion, a price-to-earnings ratio of 20.18 and a beta of 3.66.

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

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.