Skandinaviska Enskilda Banken AB publ Boosts Position in Coinbase Global, Inc. (NASDAQ:COIN)

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,774 shares of the cryptocurrency exchange’s stock after purchasing an additional 249 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Coinbase Global were worth $9,641,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in COIN. Principal Financial Group Inc. lifted its stake in Coinbase Global by 219.2% in the third 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 last quarter. Assetmark Inc. lifted its stake in Coinbase Global by 76.6% in the third quarter. Assetmark Inc. now owns 2,879 shares of the cryptocurrency exchange’s stock valued at $513,000 after buying an additional 1,249 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Coinbase Global by 12.6% in the third quarter. Crossmark Global Holdings Inc. now owns 1,548 shares of the cryptocurrency exchange’s stock valued at $276,000 after buying an additional 173 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Coinbase Global by 8.0% in the third quarter. Los Angeles Capital Management LLC now owns 1,486 shares of the cryptocurrency exchange’s stock valued at $265,000 after buying an additional 110 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in Coinbase Global in the third quarter valued at approximately $567,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.2 %

Shares of COIN stock opened at $183.12 on Friday. The business’s fifty day moving average price is $255.08 and its 200 day moving average price is $240.49. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The firm has a market capitalization of $46.49 billion, a PE ratio of 19.28 and a beta of 3.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COIN. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Canaccord Genuity Group boosted their price objective on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Monness Crespi & Hardt set a $420.00 price objective on Coinbase Global in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods upped their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Barclays upped their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $307.89.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Grewal sold 10,978 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total value of $2,326,567.54. Following the sale, the insider now directly owns 83,313 shares in the company, valued at approximately $17,656,524.09. The trade was a 11.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,455 shares of company stock valued at $60,955,968. Insiders own 23.43% 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.