Lansforsakringar Fondforvaltning AB publ Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 62,740 shares of the cryptocurrency exchange's stock, valued at approximately $15,578,000.

Other large investors have also recently bought and sold shares of the company. Avior Wealth Management LLC increased its position in Coinbase Global by 7.8% in the fourth quarter. Avior Wealth Management LLC now owns 965 shares of the cryptocurrency exchange's stock worth $240,000 after buying an additional 70 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in Coinbase Global during the 4th quarter valued at $213,000. Geneos Wealth Management Inc. grew its stake in shares of Coinbase Global by 224.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 661 shares of the cryptocurrency exchange's stock worth $164,000 after purchasing an additional 457 shares in the last quarter. Flagship Harbor Advisors LLC lifted its holdings in Coinbase Global by 2.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,029 shares of the cryptocurrency exchange's stock worth $504,000 after purchasing an additional 56 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new position in Coinbase Global in the 4th quarter valued at about $290,000. Institutional investors own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

COIN has been the subject of several recent research reports. Mizuho cut their target price on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Piper Sandler boosted their price target on shares of Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Monness Crespi & Hardt upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price objective on the stock in a research report on Tuesday, May 13th. Benchmark increased their target price on Coinbase Global from $252.00 to $301.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, Cantor Fitzgerald initiated coverage on Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of "Moderate Buy" and an average target price of $266.10.

Coinbase Global Stock Down 1.1%

Shares of Coinbase Global stock traded down $2.72 during midday trading on Friday, reaching $246.12. 6,028,897 shares of the company's stock traded hands, compared to its average volume of 10,170,819. 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 $142.58 and a 52 week high of $349.75. The company's 50 day simple moving average is $204.79 and its 200 day simple moving average is $246.09. The company has a market cap of $62.48 billion, a price-to-earnings ratio of 25.91 and a beta of 3.62.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its 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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the previous year, the company earned $2.53 earnings per share. The company's quarterly revenue was up 24.2% compared to the same quarter last year. Equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total transaction of $1,981,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company's stock, valued at $104,226.90. This represents a 95.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 12,931 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $267.29, for a total transaction of $3,456,326.99. Following the completion of the transaction, the insider now directly owns 84,280 shares in the company, valued at approximately $22,527,201.20. This represents a 13.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 170,717 shares of company stock valued at $36,801,351. 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.