Coinbase Global, Inc. (NASDAQ:COIN) Position Lifted by APG Asset Management N.V.

APG Asset Management N.V. raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 1,261.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 127,498 shares of the cryptocurrency exchange’s stock after purchasing an additional 118,131 shares during the period. APG Asset Management N.V. owned 0.05% of Coinbase Global worth $30,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after purchasing an additional 128,802 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock worth $882,822,000 after acquiring an additional 127,075 shares in the last quarter. Norges Bank acquired a new position in shares of Coinbase Global in the 4th quarter worth approximately $536,484,000. Groupama Asset Managment bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $372,450,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Coinbase Global by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after acquiring an additional 15,954 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In other Coinbase Global news, CEO Brian Armstrong sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total value of $2,527,950.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $88,646.78. This represents a 96.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. This trade represents a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 182,767 shares of company stock valued at $48,326,134 over the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Down 3.7 %

COIN stock opened at $151.47 on Wednesday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $38.46 billion, a price-to-earnings ratio of 15.94 and a beta of 3.65. The firm’s 50-day moving average is $219.19 and its two-hundred day moving average is $242.32.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping 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%. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

COIN has been the subject of several recent research reports. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They set a “neutral” rating and a $195.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of Coinbase Global in a research report on Tuesday. They set an “overweight” rating and a $245.00 price objective for the company. Piper Sandler raised their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $298.74.

Coinbase Global 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.