Nordea Investment Management AB Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Nordea Investment Management AB grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,934 shares of the cryptocurrency exchange’s stock after buying an additional 836 shares during the quarter. Nordea Investment Management AB’s holdings in Coinbase Global were worth $3,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clear Street Derivatives LLC acquired a new position in Coinbase Global in the 3rd quarter valued at about $409,919,000. Renaissance Technologies LLC grew its holdings in shares of Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after purchasing an additional 691,288 shares in the last quarter. American Century Companies Inc. increased its stake in Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after buying an additional 435,886 shares during the period. Geode Capital Management LLC increased its stake in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after buying an additional 314,388 shares during the period. Finally, Azora Capital LP lifted its holdings in Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after buying an additional 220,078 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, Director Gokul Rajaram sold 400 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the sale, the director now owns 7,771 shares in the company, valued at $1,588,703.24. This trade represents a 4.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $181.36, for a total value of $272,040.00. Following the transaction, the chief operating officer now directly owns 176,601 shares of the company’s stock, valued at approximately $32,028,357.36. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 328,483 shares of company stock worth $96,470,997. 23.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COIN. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Monness Crespi & Hardt upped their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Needham & Company LLC upped their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, Piper Sandler raised their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $285.28.

Coinbase Global Stock Performance

Shares of COIN opened at $258.78 on Friday. The company’s 50 day simple moving average is $287.26 and its 200-day simple moving average is $229.55. The firm has a market cap of $64.79 billion, a PE ratio of 44.16 and a beta of 3.59. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. As a group, equities analysts predict that Coinbase Global, Inc. will post 4.44 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.