Forsta AP Fonden Buys 5,200 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Forsta AP Fonden raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 15.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,500 shares of the cryptocurrency exchange’s stock after buying an additional 5,200 shares during the period. Forsta AP Fonden’s holdings in Coinbase Global were worth $7,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in shares of Coinbase Global by 833.3% in the first quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock worth $30,000 after acquiring an additional 100 shares during the period. Concord Wealth Partners raised its holdings in Coinbase Global by 322.2% during the 1st quarter. Concord Wealth Partners now owns 114 shares of the cryptocurrency exchange’s stock worth $30,000 after purchasing an additional 87 shares during the last quarter. Crewe Advisors LLC lifted its position in shares of Coinbase Global by 547.4% in the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after purchasing an additional 104 shares during the period. Lynx Investment Advisory acquired a new position in shares of Coinbase Global in the 2nd quarter worth approximately $29,000. Finally, Versant Capital Management Inc boosted its stake in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the transaction, the chief financial officer now owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Coinbase Global news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $195.25, for a total value of $1,025,062.50. Following the sale, the chief financial officer now owns 169,786 shares of the company’s stock, valued at approximately $33,150,716.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $233.00, for a total transaction of $349,500.00. Following the transaction, the chief operating officer now directly owns 194,971 shares of the company’s stock, valued at $45,428,243. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,187 shares of company stock worth $13,158,294. 23.43% of the stock is owned by company insiders.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $216.10 on Tuesday. The company has a market cap of $53.07 billion, a PE ratio of 43.13 and a beta of 3.35. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. Coinbase Global, Inc. has a 52 week low of $71.88 and a 52 week high of $283.48. The business has a 50 day moving average price of $181.38 and a 200-day moving average price of $209.38.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the firm posted ($0.42) earnings per share. The firm’s revenue for the quarter was up 104.8% compared to the same quarter last year. Equities analysts anticipate that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COIN. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $260.00 to $345.00 in a report on Tuesday, July 23rd. Barclays boosted their price objective on Coinbase Global from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. The Goldman Sachs Group decreased their target price on Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Compass Point lowered their target price on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, HC Wainwright cut their price target on Coinbase Global from $315.00 to $295.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $242.94.

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.