Coinbase Global, Inc. (NASDAQ:COIN) Stake Lifted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 11.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,094 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,748 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Coinbase Global were worth $4,548,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in COIN. Farther Finance Advisors LLC raised its stake in shares of Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after buying an additional 40 shares in the last quarter. IPG Investment Advisors LLC grew its holdings in Coinbase Global by 2.0% during the fourth quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after acquiring an additional 45 shares during the period. Vivaldi Capital Management LP grew its holdings in Coinbase Global by 0.3% during the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock worth $3,437,000 after acquiring an additional 47 shares during the period. MetLife Investment Management LLC raised its position in Coinbase Global by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange’s stock worth $2,746,000 after acquiring an additional 55 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Coinbase Global by 2.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange’s stock valued at $653,000 after acquiring an additional 60 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the company’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer directly owned 526 shares of the company’s stock, valued at $190,732.86. This represents a 99.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of Coinbase Global stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total value of $7,622,597.56. Following the sale, the director owned 10,417 shares of the company’s stock, valued at approximately $2,632,167.56. This represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 685,915 shares of company stock worth $222,081,432. 17.65% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on COIN shares. HC Wainwright restated a “sell” rating and set a $300.00 price objective (down previously from $305.00) on shares of Coinbase Global in a research report on Thursday. Rosenblatt Securities restated a “buy” rating and set a $300.00 target price on shares of Coinbase Global in a report on Monday, June 16th. Monness Crespi & Hardt upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods upped their price target on Coinbase Global from $183.00 to $205.00 and gave the company a “market perform” rating in a report on Friday, May 9th. Finally, Needham & Company LLC reduced their price objective on Coinbase Global from $330.00 to $270.00 and set a “buy” rating for the company in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $298.60.

Coinbase Global Price Performance

NASDAQ COIN opened at $387.06 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The firm has a market capitalization of $98.27 billion, a price-to-earnings ratio of 72.48, a price-to-earnings-growth ratio of 28.35 and a beta of 3.70. The company has a 50 day simple moving average of $282.06 and a 200-day simple moving average of $246.32. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $395.50.

Coinbase Global (NASDAQ:COIN) last released 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). The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm’s quarterly revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.53 EPS. Equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.