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

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,200 shares of the cryptocurrency exchange's stock after selling 2,600 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Coinbase Global were worth $6,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Vivaldi Capital Management LP raised its position in Coinbase Global by 0.3% in the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after purchasing an additional 47 shares during the period. MetLife Investment Management LLC raised its position in Coinbase Global by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock valued at $2,746,000 after purchasing an additional 55 shares during the period. Callan Capital LLC raised its position in Coinbase Global by 5.1% in the first quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange's stock valued at $215,000 after purchasing an additional 61 shares during the period. Emory University raised its position in Coinbase Global by 1.5% in the fourth quarter. Emory University now owns 4,376 shares of the cryptocurrency exchange's stock valued at $1,087,000 after purchasing an additional 64 shares during the period. Finally, TRU Independence Asset Management 2 LLC raised its position in Coinbase Global by 2.7% in the first quarter. TRU Independence Asset Management 2 LLC now owns 2,493 shares of the cryptocurrency exchange's stock valued at $429,000 after purchasing an additional 65 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Argus assumed coverage on Coinbase Global in a research report on Monday, July 14th. They issued a "buy" rating and a $400.00 price objective on the stock. Compass Point reissued a "sell" rating and issued a $248.00 price objective (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Sanford C. Bernstein raised their price objective on Coinbase Global from $310.00 to $510.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Needham & Company LLC raised their target price on Coinbase Global from $270.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Citigroup raised their target price on Coinbase Global from $270.00 to $505.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of "Hold" and a consensus price target of $352.72.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $317.55 on Friday. 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 stock has a 50 day simple moving average of $339.97 and a 200-day simple moving average of $261.44. The company has a market cap of $81.59 billion, a PE ratio of 30.71 and a beta of 3.70. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64.

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

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at $190,732.86. This represents a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,185,704 shares of company stock worth $438,918,732 in the last three months. Insiders own 17.65% of the company's stock.

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.

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