Forsta AP Fonden Has $9.91 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Forsta AP Fonden grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 1.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,900 shares of the cryptocurrency exchange’s stock after purchasing an additional 400 shares during the period. Forsta AP Fonden’s holdings in Coinbase Global were worth $9,907,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in COIN. Sei Investments Co. grew its stake in Coinbase Global by 22.3% during the second quarter. Sei Investments Co. now owns 12,128 shares of the cryptocurrency exchange’s stock worth $2,694,000 after buying an additional 2,212 shares during the last quarter. AQR Capital Management LLC grew its position in Coinbase Global by 103.8% during the 2nd quarter. AQR Capital Management LLC now owns 30,729 shares of the cryptocurrency exchange’s stock worth $6,829,000 after acquiring an additional 15,652 shares during the last quarter. Mackenzie Financial Corp raised its position in Coinbase Global by 639.4% in the 2nd quarter. Mackenzie Financial Corp now owns 9,205 shares of the cryptocurrency exchange’s stock valued at $2,046,000 after purchasing an additional 7,960 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Coinbase Global by 7.3% in the second quarter. NewEdge Advisors LLC now owns 4,863 shares of the cryptocurrency exchange’s stock worth $1,081,000 after purchasing an additional 332 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in shares of Coinbase Global by 84.3% during the second quarter. Sunbelt Securities Inc. now owns 553 shares of the cryptocurrency exchange’s stock worth $123,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total value of $447,465.00. Following the completion of the sale, the chief operating officer now owns 177,576 shares in the company, valued at $52,972,696.56. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 376,205 shares of company stock valued at $112,487,737. 23.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

COIN has been the topic of several research reports. Oppenheimer reduced their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. The Goldman Sachs Group decreased their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $250.00 to $290.00 in a report on Wednesday. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average price target of $289.06.

Coinbase Global Price Performance

NASDAQ:COIN opened at $301.30 on Friday. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The company has a market cap of $75.43 billion, a P/E ratio of 51.42 and a beta of 3.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day simple moving average is $288.26 and its 200 day simple moving average is $235.66.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.13). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm’s revenue for the quarter was up 78.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. As a group, sell-side analysts forecast that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

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.