Coinbase Global, Inc. $COIN Holdings Lifted by Swedbank AB

Swedbank AB boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,323 shares of the cryptocurrency exchange's stock after acquiring an additional 2,909 shares during the quarter. Swedbank AB's holdings in Coinbase Global were worth $6,084,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Mascagni Wealth Management Inc. acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $25,000. Copia Wealth Management purchased a new position in Coinbase Global during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Coinbase Global during the 4th quarter valued at $35,000. Ameriflex Group Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $37,000. Finally, Bessemer Group Inc. boosted its position in shares of Coinbase Global by 297.4% in the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock worth $26,000 after buying an additional 113 shares during the period. Institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $327.02 on Tuesday. The firm has a market capitalization of $84.02 billion, a PE ratio of 31.63 and a beta of 3.68. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. The firm's fifty day simple moving average is $340.07 and its 200 day simple moving average is $268.46.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.14 earnings per share. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Williams Trading set a $405.00 price objective on Coinbase Global in a research note on Thursday, July 31st. Rosenblatt Securities restated a "buy" rating and set a $470.00 price target on shares of Coinbase Global in a report on Friday, August 1st. China Renaissance started coverage on shares of Coinbase Global in a research report on Tuesday, June 17th. They issued a "buy" rating and a $353.30 target price for the company. Keefe, Bruyette & Woods lowered their price target on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a report on Monday, August 4th. Finally, Piper Sandler reiterated a "neutral" rating and set a $350.00 price objective on shares of Coinbase Global in a report on Thursday, July 31st. Thirteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $352.72.

Insider Activity at Coinbase Global

In other news, insider Lawrence J. Brock sold 5,903 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the transaction, the insider owned 478 shares in the company, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $304.52, for a total value of $3,045,200.00. Following the completion of the transaction, the insider owned 82,328 shares of the company's stock, valued at $25,070,522.56. The trade was a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,173,050 shares of company stock worth $438,728,761. Insiders own 23.43% of the company's stock.

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.

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