Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 8,200 Shares of Coinbase Global, Inc. $COIN

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 20.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,000 shares of the cryptocurrency exchange’s stock after selling 8,200 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Coinbase Global were worth $11,216,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of Coinbase Global by 24.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after buying an additional 9,952 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Coinbase Global by 4.8% during the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock worth $2,368,000 after buying an additional 629 shares during the last quarter. Kera Capital Partners Inc. boosted its stake in shares of Coinbase Global by 3.0% during the 2nd quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after buying an additional 1,085 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Coinbase Global by 102.6% during the 2nd quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after buying an additional 5,402 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Coinbase Global by 8.1% during the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after buying an additional 84 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the transaction, the insider directly owned 82,328 shares of the company’s stock, valued at $25,587,542.40. This represents a 15.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the completion of the transaction, the chief executive officer directly owned 526 shares in the company, valued at approximately $186,977.22. This represents a 97.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 205,657 shares of company stock valued at $67,479,576 in the last three months. 23.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on COIN shares. Rothschild & Co Redburn upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $325.00 to $417.00 in a research note on Friday, October 3rd. Argus started coverage on shares of Coinbase Global in a research note on Monday, July 14th. They set a “buy” rating and a $400.00 price objective for the company. Keefe, Bruyette & Woods cut their target price on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a research note on Monday, August 4th. Citigroup raised their target price on shares of Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $387.50.

Coinbase Global Stock Down 1.7%

Coinbase Global stock opened at $355.22 on Wednesday. The stock has a market cap of $91.27 billion, a P/E ratio of 34.35 and a beta of 3.68. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company’s 50-day moving average price is $331.51 and its two-hundred day moving average price is $303.03.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. As a group, analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.