Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Raised by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,704 shares of the cryptocurrency exchange’s stock after acquiring an additional 1,240 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Coinbase Global were worth $3,900,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of 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 acquiring an additional 314,388 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $409,919,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Coinbase Global by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock worth $232,168,000 after acquiring an additional 15,954 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Coinbase Global by 30,664.4% in the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Finally, Ribbit Management Company LLC boosted its position in shares of Coinbase Global by 4.7% in the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after buying an additional 17,650 shares during the period. 68.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on COIN shares. HC Wainwright reaffirmed a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Keefe, Bruyette & Woods boosted their price objective on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Mizuho lowered their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $307.89.

Insider Activity

In other news, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,455 shares of company stock valued at $60,955,968. 23.43% of the stock is owned by insiders.

Coinbase Global Trading Up 0.0 %

Coinbase Global stock opened at $191.73 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market capitalization of $48.68 billion, a price-to-earnings ratio of 20.18 and a beta of 3.66. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company’s fifty day moving average price is $258.42 and its two-hundred day moving average price is $241.08.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.