Siemens Fonds Invest GmbH Purchases 52,075 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Siemens Fonds Invest GmbH lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 2,578.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,095 shares of the cryptocurrency exchange’s stock after buying an additional 52,075 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Coinbase Global were worth $13,432,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COIN. Savant Capital LLC bought a new position in Coinbase Global during the fourth quarter worth $591,000. Robeco Institutional Asset Management B.V. boosted its position in Coinbase Global by 33.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 103,619 shares of the cryptocurrency exchange’s stock worth $25,729,000 after purchasing an additional 25,972 shares during the period. Foundations Investment Advisors LLC boosted its position in Coinbase Global by 198.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 13,614 shares of the cryptocurrency exchange’s stock worth $3,380,000 after purchasing an additional 9,045 shares during the period. KCM Investment Advisors LLC bought a new position in Coinbase Global during the fourth quarter worth $507,000. Finally, Western Financial Corp CA bought a new position in Coinbase Global during the fourth quarter worth $459,000. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 10,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $104,226.90. This represents a 95.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the completion of the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at $2,632,167.56. This trade represents a 74.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,786 shares of company stock valued at $33,345,024 over the last quarter. 17.65% of the stock is owned by company insiders.

Coinbase Global Trading Down 3.2%

COIN opened at $263.16 on Tuesday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $349.75. The company has a 50-day simple moving average of $201.06 and a 200 day simple moving average of $246.42. 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 stock has a market capitalization of $66.81 billion, a price-to-earnings ratio of 27.70 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company earned $2.53 EPS. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. Analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COIN. Canaccord Genuity Group reaffirmed a “buy” rating and set a $400.00 price objective on shares of Coinbase Global in a research report on Friday, May 9th. Oppenheimer set a $293.00 price objective on shares of Coinbase Global in a research report on Thursday, May 15th. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a research report on Friday, May 9th. Mizuho reduced their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Coinbase Global from $276.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average target price of $266.40.

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.