Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 42,800 shares of the cryptocurrency exchange’s stock after selling 300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Coinbase Global were worth $10,627,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in COIN. Clear Street Derivatives LLC acquired a new position in shares of Coinbase Global in the third quarter worth $409,919,000. Geode Capital Management LLC raised its stake in Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Azora Capital LP lifted its holdings in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Coinbase Global during the 3rd quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Coinbase Global during the third quarter worth about $29,756,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total transaction of $2,475,615.96. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $3,386,983.38. This trade represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 227,591 shares of company stock valued at $64,609,581. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on COIN. Mizuho lowered their price target on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a research note on Tuesday, February 18th. HC Wainwright reaffirmed a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Friday. Barclays boosted their price target on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, JMP Securities raised their price objective on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus target price of $306.17.

Coinbase Global Price Performance

Shares of COIN opened at $235.38 on Monday. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a fifty day moving average price of $275.76 and a 200 day moving average price of $240.54. The company has a market cap of $59.76 billion, a P/E ratio of 24.78 and a beta of 3.61.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) 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%. On average, research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.