Daiwa Securities Group Inc. Buys 1,240 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Daiwa Securities Group Inc. lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,704 shares of the cryptocurrency exchange’s stock after buying an additional 1,240 shares during the period. 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 hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after buying an additional 314,388 shares during the period. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global in the third quarter valued at about $409,919,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Coinbase Global by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after buying an additional 15,954 shares during the period. Proficio Capital Partners LLC lifted its stake 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 buying an additional 417,036 shares during the period. Finally, Ribbit Management Company LLC lifted its stake 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 valued at $70,217,000 after buying an additional 17,650 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 20,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $300.00, for a total transaction of $6,000,000.00. Following the transaction, the chief financial officer now owns 124,470 shares in the company, valued at $37,341,000. This represents a 13.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,455 shares of company stock worth $60,955,968. Insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COIN. Rosenblatt Securities began coverage on shares of Coinbase Global in a research note on Friday, March 7th. They set a “buy” rating and a $305.00 price target for the company. Piper Sandler raised their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JMP Securities raised their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Canaccord Genuity Group raised their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.89.

Coinbase Global Stock Up 0.0 %

Coinbase Global stock opened at $191.73 on Thursday. The firm has a market capitalization of $48.68 billion, a PE ratio of 20.18 and a beta of 3.66. The company’s 50-day moving average is $258.42 and its 200-day moving average is $241.08. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share 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%. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.