Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Lessened by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. decreased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,428,618 shares of the cryptocurrency exchange’s stock after selling 360,601 shares during the period. Coinbase Global accounts for 6.5% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 2nd largest position. Nikko Asset Management Americas Inc. owned about 0.97% of Coinbase Global worth $602,516,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clear Street Derivatives LLC purchased a new stake in Coinbase Global during the third quarter worth approximately $409,919,000. Proficio Capital Partners LLC boosted its stake in Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after acquiring an additional 417,036 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Coinbase Global during the fourth quarter worth $56,142,000. Finally, Azora Capital LP raised its holdings in shares of Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after purchasing an additional 220,078 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 3.2 %

COIN opened at $183.12 on Monday. 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 fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a market capitalization of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66. The stock has a fifty day moving average of $255.08 and a 200-day moving average of $241.14.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research reports. Piper Sandler increased their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Barclays boosted their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods boosted their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. Canaccord Genuity Group boosted their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Bank of America dropped their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $316.67.

Insider Buying and Selling

In related news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the sale, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total value of $2,246,891.40. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,074,056.70. This trade represents a 42.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 over the last ninety days. 23.43% of the stock is owned by company insiders.

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.