BI Asset Management Fondsmaeglerselskab A S Has $2.26 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 59.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,114 shares of the cryptocurrency exchange's stock after selling 13,204 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Coinbase Global were worth $2,263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Coinbase Global in the third quarter valued at $3,866,000. Wilmington Savings Fund Society FSB acquired a new stake in Coinbase Global in the third quarter valued at $94,000. Principal Financial Group Inc. grew its position in shares of Coinbase Global by 219.2% in the 3rd quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange's stock valued at $9,558,000 after acquiring an additional 36,843 shares during the period. Versant Capital Management Inc grew its position in shares of Coinbase Global by 106.9% in the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock valued at $74,000 after acquiring an additional 154 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Coinbase Global by 25.9% during the 4th quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange's stock worth $258,000 after purchasing an additional 214 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COIN shares. Piper Sandler lifted their price target on Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Keefe, Bruyette & Woods boosted their target price on Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a report on Tuesday, February 18th. Cantor Fitzgerald started coverage on Coinbase Global in a report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $330.00 price objective on shares of Coinbase Global in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group increased their price objective on shares of Coinbase Global from $280.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $295.65.

Coinbase Global Price Performance

Shares of COIN traded up $9.07 during trading hours on Thursday, hitting $203.87. 6,786,647 shares of the company were exchanged, compared to its average volume of 9,143,233. The company has a market cap of $51.76 billion, a price-to-earnings ratio of 21.46 and a beta of 3.65. The firm's fifty day moving average is $194.42 and its 200 day moving average is $241.82. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total value of $6,774,750.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $142,540.74. This trade represents a 97.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the sale, the chief financial officer now owns 114,866 shares of the company's stock, valued at approximately $22,973,200. This represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 141,611 shares of company stock valued at $34,376,005 over the last three months. 23.43% of the stock is owned by insiders.

Coinbase Global 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.