AMF Tjanstepension AB Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

AMF Tjanstepension AB purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,681 shares of the cryptocurrency exchange’s stock, valued at approximately $4,638,000.

Other institutional investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% during the fourth 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 last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the third quarter valued at approximately $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at approximately $50,000. Finally, Bogart Wealth LLC grew its holdings in shares of Coinbase Global by 252.5% during the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange’s stock valued at $52,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on COIN shares. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Barclays raised their target price on shares of Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. HC Wainwright restated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a report on Friday, February 21st. Rosenblatt Securities initiated coverage on shares of Coinbase Global in a report on Friday. They issued a “buy” rating and a $305.00 target price on the stock. Finally, Mizuho dropped their target price on shares of Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $311.21.

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 5,262 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $300.09, for a total transaction of $1,579,073.58. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 in the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 1.5 %

Shares of COIN stock opened at $217.45 on Friday. The company has a market capitalization of $55.21 billion, a price-to-earnings ratio of 22.89 and a beta of 3.66. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company’s fifty day moving average price is $262.21 and its 200-day moving average price is $241.45. 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 announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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 expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.