SBI Securities Co. Ltd. Invests $6.81 Million in Coinbase Global, Inc. (NASDAQ:COIN)

SBI Securities Co. Ltd. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,436 shares of the cryptocurrency exchange’s stock, valued at approximately $6,812,000.

Several other large investors have also recently bought and sold shares of COIN. Assenagon Asset Management S.A. increased its stake in Coinbase Global by 36.2% in the third quarter. Assenagon Asset Management S.A. now owns 3,581 shares of the cryptocurrency exchange’s stock valued at $638,000 after purchasing an additional 952 shares in the last quarter. abrdn plc increased its stake in Coinbase Global by 625.1% in the third quarter. abrdn plc now owns 34,788 shares of the cryptocurrency exchange’s stock valued at $6,198,000 after purchasing an additional 29,990 shares in the last quarter. Integrated Advisors Network LLC increased its stake in Coinbase Global by 104.4% in the third quarter. Integrated Advisors Network LLC now owns 1,968 shares of the cryptocurrency exchange’s stock valued at $351,000 after purchasing an additional 1,005 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in Coinbase Global by 9.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after purchasing an additional 51 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Coinbase Global by 20.1% in the third quarter. Janney Montgomery Scott LLC now owns 38,634 shares of the cryptocurrency exchange’s stock valued at $6,883,000 after purchasing an additional 6,466 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In other news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $3,126,037.53. This represents a 33.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 237,069 shares of company stock valued at $66,488,684 over the last ninety days. 23.43% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on COIN shares. Monness Crespi & Hardt set a $420.00 price target on shares of Coinbase Global in a report on Tuesday, February 18th. Mizuho reduced their price target on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Bank of America reduced their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. JMP Securities upped their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.56.

Coinbase Global Stock Performance

Shares of COIN stock opened at $215.73 on Friday. The stock has a market cap of $54.77 billion, a P/E ratio of 22.71 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a fifty day moving average price of $268.11 and a two-hundred day moving average price of $240.95. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75.

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

About Coinbase Global

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.