Bokf Na Decreases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

BOKF NA decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 66.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,967 shares of the cryptocurrency exchange's stock after selling 8,004 shares during the quarter. BOKF NA's holdings in Coinbase Global were worth $1,027,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in Coinbase Global during the third quarter worth about $94,000. Principal Financial Group Inc. grew its stake in shares of Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after buying an additional 36,843 shares during the period. Nordea Investment Management AB grew its stake in shares of Coinbase Global by 5.9% in the 4th quarter. Nordea Investment Management AB now owns 14,934 shares of the cryptocurrency exchange's stock valued at $3,772,000 after buying an additional 836 shares during the period. Fulton Bank N.A. grew its stake in shares of Coinbase Global by 1.6% in the 4th quarter. Fulton Bank N.A. now owns 5,512 shares of the cryptocurrency exchange's stock valued at $1,369,000 after buying an additional 87 shares during the period. Finally, First Hawaiian Bank purchased a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $327,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Analysts Set New Price Targets

COIN has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a research note on Monday. Bank of America dropped their price target on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. JMP Securities restated a "market outperform" rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Thursday. Finally, Rosenblatt Securities restated a "buy" rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of "Moderate Buy" and an average target price of $268.75.

Coinbase Global Stock Up 4.0%

NASDAQ:COIN traded up $7.90 during midday trading on Monday, hitting $207.22. 14,100,888 shares of the company were exchanged, compared to its average volume of 9,678,414. The company has a fifty day simple moving average of $187.38 and a 200 day simple moving average of $243.30. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $52.61 billion, a PE ratio of 21.81 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS 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 company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the business earned $2.53 earnings per share. Coinbase Global's revenue was up 24.2% compared to the same quarter last year. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company's stock, valued at approximately $144,786.76. This trade represents a 97.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,074,056.70. The trade was a 42.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,742 shares of company stock valued at $32,639,759. Insiders own 17.65% of the company's stock.

About Coinbase Global

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.