Rakuten Securities Inc. Invests $2.76 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Rakuten Securities Inc. purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 15,892 shares of the cryptocurrency exchange's stock, valued at approximately $2,764,000. Coinbase Global comprises approximately 2.2% of Rakuten Securities Inc.'s holdings, making the stock its 11th biggest position.

Several other institutional investors have also made changes to their positions in the company. Arkadios Wealth Advisors raised its stake in shares of Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange's stock valued at $590,000 after acquiring an additional 86 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Coinbase Global by 2.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange's stock valued at $669,000 after acquiring an additional 90 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange's stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in shares of Coinbase Global by 10.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange's stock valued at $103,000 after acquiring an additional 125 shares in the last quarter. Finally, Windle Wealth LLC increased its position in Coinbase Global by 2.5% in the 3rd quarter. Windle Wealth LLC now owns 5,236 shares of the cryptocurrency exchange's stock worth $393,000 after buying an additional 126 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COIN has been the topic of several recent analyst reports. Wedbush lifted their price target on Coinbase Global from $180.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, February 16th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $240.00 price target on shares of Coinbase Global in a research report on Thursday, March 28th. Raymond James raised Coinbase Global from an "underperform" rating to a "market perform" rating in a research report on Tuesday, March 12th. Mizuho boosted their price objective on Coinbase Global from $84.00 to $145.00 and gave the company an "underperform" rating in a research report on Friday, April 12th. Finally, JMP Securities restated a "market outperform" rating on shares of Coinbase Global in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $163.70.

Coinbase Global Price Performance

Coinbase Global stock traded down $5.05 on Wednesday, reaching $213.78. The company's stock had a trading volume of 9,423,899 shares, compared to its average volume of 14,044,888. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $51.79 billion, a price-to-earnings ratio of 791.78 and a beta of 3.41. The business's fifty day moving average price is $221.60 and its 200 day moving average price is $154.18. Coinbase Global, Inc. has a twelve month low of $46.43 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business's revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.46) earnings per share. Equities analysts expect that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the business's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $248.00, for a total transaction of $372,000.00. Following the completion of the sale, the chief operating officer now owns 215,351 shares in the company, valued at $53,407,048. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of the business's stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $131.57, for a total transaction of $12,872,282.52. Following the completion of the sale, the director now owns 6,072 shares in the company, valued at $798,893.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the business's stock in a transaction on Monday, April 15th. The stock was sold at an average price of $248.00, for a total value of $372,000.00. Following the sale, the chief operating officer now owns 215,351 shares of the company's stock, valued at approximately $53,407,048. The disclosure for this sale can be found here. Insiders sold a total of 590,978 shares of company stock worth $103,440,000 over the last 90 days. 33.16% of the stock is owned by insiders.

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.