16,776 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Avanza Fonder AB

Avanza Fonder AB acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 16,776 shares of the cryptocurrency exchange's stock, valued at approximately $4,165,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banco Santander S.A. raised its stake in Coinbase Global by 12.7% in the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange's stock worth $26,531,000 after buying an additional 16,737 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Coinbase Global by 135.1% in the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange's stock worth $477,000 after acquiring an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Coinbase Global in the 3rd quarter valued at approximately $29,756,000. Lindbrook Capital LLC boosted its position in shares of Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange's stock valued at $5,347,000 after purchasing an additional 6,963 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Coinbase Global in the second quarter worth $2,908,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of COIN traded up $13.85 during mid-day trading on Friday, hitting $295.48. 11,250,894 shares of the stock were exchanged, compared to its average volume of 6,726,179. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $73.97 billion, a PE ratio of 50.42 and a beta of 3.59. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The firm has a 50-day moving average of $291.21 and a two-hundred day moving average of $231.24.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global's revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) EPS. On average, equities analysts predict that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the sale, the chief operating officer now owns 175,101 shares of the company's stock, valued at approximately $35,598,033.30. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now directly owns 1,160 shares of the company's stock, valued at approximately $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 347,033 shares of company stock valued at $102,613,277 over the last ninety days. 23.43% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on COIN. Barclays raised their price objective on Coinbase Global from $204.00 to $355.00 and gave the company an "equal weight" rating in a research report on Monday, December 9th. The Goldman Sachs Group dropped their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Monness Crespi & Hardt upped their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Needham & Company LLC lifted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $280.00 price target on shares of Coinbase Global in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $282.83.

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.