APG Asset Management N.V. Buys 16,200 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

APG Asset Management N.V. raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 261.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 22,407 shares of the cryptocurrency exchange’s stock after buying an additional 16,200 shares during the period. APG Asset Management N.V.’s holdings in Coinbase Global were worth $4,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position in Coinbase Global by 25.1% during the fourth quarter. Wells Fargo & Company MN now owns 45,785 shares of the cryptocurrency exchange’s stock worth $7,963,000 after acquiring an additional 9,194 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Coinbase Global by 1.1% in the 4th quarter. Corient Private Wealth LLC now owns 8,813 shares of the cryptocurrency exchange’s stock valued at $1,533,000 after purchasing an additional 94 shares during the period. Franklin Resources Inc. grew its holdings in Coinbase Global by 18.4% in the 4th quarter. Franklin Resources Inc. now owns 7,447 shares of the cryptocurrency exchange’s stock valued at $1,295,000 after buying an additional 1,156 shares in the last quarter. Hsbc Holdings PLC increased its position in Coinbase Global by 540.4% during the 4th quarter. Hsbc Holdings PLC now owns 44,977 shares of the cryptocurrency exchange’s stock worth $7,829,000 after buying an additional 37,954 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of Coinbase Global by 304.4% during the fourth quarter. TD Asset Management Inc now owns 86,218 shares of the cryptocurrency exchange’s stock worth $14,995,000 after buying an additional 64,897 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COIN shares. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $206.00 to $169.00 in a research report on Friday, September 6th. HC Wainwright reduced their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Bank of America dropped their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $246.06.

Coinbase Global Price Performance

COIN stock opened at $191.23 on Monday. The stock has a market cap of $46.96 billion, a price-to-earnings ratio of 38.17 and a beta of 3.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50 day simple moving average of $191.76 and a 200 day simple moving average of $218.82. Coinbase Global, Inc. has a 1 year low of $70.41 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm’s revenue was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.42) earnings per share. Research analysts anticipate that Coinbase Global, Inc. will post 3.96 EPS for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the completion of the transaction, the insider now owns 71,195 shares of the company’s stock, valued at $16,784,221.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $162.24, for a total value of $243,360.00. Following the sale, the chief operating officer now owns 187,601 shares in the company, valued at approximately $30,436,386.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was 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. Over the last three months, insiders sold 91,612 shares of company stock worth $18,625,489. 23.43% of the stock is currently owned by insiders.

About Coinbase Global

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.