19,036 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Swedbank AB

Swedbank AB purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,036 shares of the cryptocurrency exchange’s stock, valued at approximately $5,047,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Salem Investment Counselors Inc. increased its stake in Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock worth $49,000 after purchasing an additional 114 shares during the period. Intech Investment Management LLC increased its stake in Coinbase Global by 454.3% in the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after purchasing an additional 33,240 shares during the period. Paragon Capital Management Ltd increased its stake in Coinbase Global by 58.6% in the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares during the period. Edgestream Partners L.P. increased its stake in Coinbase Global by 93.5% in the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after purchasing an additional 7,148 shares during the period. Finally, Raymond James & Associates increased its stake in Coinbase Global by 65.5% in the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after purchasing an additional 9,564 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 3.9 %

NASDAQ COIN traded down $8.20 during trading on Friday, hitting $204.44. The company’s stock had a trading volume of 10,022,867 shares, compared to its average volume of 8,342,275. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $50.20 billion, a PE ratio of 40.81 and a beta of 3.40. The business’s 50 day simple moving average is $234.52 and its 200-day simple moving average is $214.19. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a return on equity of 14.72% and a net margin of 31.46%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. On average, equities analysts anticipate that Coinbase Global, Inc. will post 4.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on COIN shares. Keefe, Bruyette & Woods raised their price target on Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Bank of America cut their price target on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday. Sanford C. Bernstein raised their price target on Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Coinbase Global in a research note on Friday, July 19th. Finally, Singular Research restated a “buy” rating on shares of Coinbase Global in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $245.27.

Insider Buying and Selling

In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the completion of the sale, the chief operating officer now owns 194,971 shares of the company’s stock, valued at $45,428,243. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the completion of the transaction, the chief operating officer now directly owns 194,971 shares in the company, valued at $45,428,243. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $235.75, for a total value of $2,357,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at $16,784,221.25. The disclosure for this sale can be found here. Insiders sold 258,601 shares of company stock valued at $56,091,678 over the last quarter. 23.43% of the stock is currently owned by company 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.