Swedbank AB Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Swedbank AB acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 19,036 shares of the cryptocurrency exchange’s stock, valued at approximately $5,047,000.

Several other hedge funds and other institutional investors have also bought and sold shares of COIN. Barrett & Company Inc. acquired a new stake in Coinbase Global in the 4th quarter worth about $26,000. Creekmur Asset Management LLC acquired a new position in shares of Coinbase Global in the 4th quarter valued at approximately $27,000. Concord Wealth Partners raised its position in shares of Coinbase Global by 322.2% in the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Coinbase Global by 833.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 100 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Coinbase Global in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 16,456 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $223.34, for a total value of $3,675,283.04. Following the transaction, the insider now directly owns 16,140 shares of the company’s stock, valued at $3,604,707.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total value of $23,105,896.80. Following the completion of the sale, the director now owns 4,662 shares in the company, valued at $943,122.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lawrence J. Brock sold 16,456 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $223.34, for a total transaction of $3,675,283.04. Following the completion of the sale, the insider now owns 16,140 shares of the company’s stock, valued at approximately $3,604,707.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,601 shares of company stock valued at $56,091,678. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 3.9 %

Shares of Coinbase Global stock traded down $8.20 during trading on Friday, reaching $204.44. 10,022,867 shares of the company traded hands, compared to its average volume of 8,342,275. Coinbase Global, Inc. has a 1-year low of $69.63 and a 1-year high of $283.48. The firm has a market capitalization of $50.20 billion, a PE ratio of 40.81 and a beta of 3.40. The company has a 50 day moving average price of $234.52 and a 200-day moving average price of $214.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 31.46% and a return on equity of 14.72%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. As a group, equities research analysts expect that Coinbase Global, Inc. will post 4.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on COIN. Bank of America dropped their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a research report on Friday. Sanford C. Bernstein lifted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Friday. HC Wainwright decreased their price target on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday. Finally, Mizuho lifted their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $245.27.

Coinbase Global Company 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.