Achmea Investment Management B.V. Invests $5.09 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Achmea Investment Management B.V. purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,488 shares of the cryptocurrency exchange’s stock, valued at approximately $5,087,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global during the 3rd quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new stake in Coinbase Global during the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global during the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN stock opened at $183.12 on Friday. Coinbase Global, Inc. has a 1-year low of $146.12 and a 1-year high of $349.75. The stock’s 50-day moving average is $255.08 and its 200 day moving average is $240.49. The company has a market cap of $46.49 billion, a P/E ratio of 19.28 and a beta of 3.66. 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 issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on COIN shares. Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. JMP Securities increased their target price on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. Bank of America reduced their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.89.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $300.09, for a total value of $1,579,073.58. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,126,037.53. This trade represents a 33.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now directly owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 over the last quarter. 23.43% of the stock is owned by corporate 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.