DnB Asset Management AS Buys 2,003 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

DnB Asset Management AS lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,310 shares of the cryptocurrency exchange’s stock after buying an additional 2,003 shares during the period. DnB Asset Management AS’s holdings in Coinbase Global were worth $8,519,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of COIN. Cerity Partners LLC raised its holdings in shares of Coinbase Global by 11.0% in the third quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock valued at $2,513,000 after purchasing an additional 1,393 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Coinbase Global by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock worth $1,854,000 after purchasing an additional 186 shares in the last quarter. D.A. Davidson & CO. increased its stake in Coinbase Global by 1.6% in the 3rd quarter. D.A. Davidson & CO. now owns 5,894 shares of the cryptocurrency exchange’s stock valued at $1,050,000 after buying an additional 90 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Coinbase Global by 97.1% during the 3rd quarter. Townsquare Capital LLC now owns 4,738 shares of the cryptocurrency exchange’s stock worth $844,000 after buying an additional 2,334 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Coinbase Global by 2.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 25,678 shares of the cryptocurrency exchange’s stock worth $4,575,000 after buying an additional 500 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a report on Tuesday, February 18th. Piper Sandler boosted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Bank of America decreased their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group assumed coverage on shares of Coinbase Global in a research report on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price for the company. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $173.93 on Friday. The business’s fifty day moving average is $239.36 and its 200 day moving average is $242.23. The firm has a market cap of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating 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%. Research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $281.94, for a total value of $6,440,073.48. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $2,936,968.98. This represents a 68.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 10,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $104,226.90. The trade was a 95.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,609 shares of company stock worth $61,331,908 in the last three months. 23.43% of the stock is currently owned by corporate insiders.

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.