Daiwa Securities Group Inc. Has $2 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Daiwa Securities Group Inc. lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,472 shares of the cryptocurrency exchange’s stock after selling 381 shares during the period. Daiwa Securities Group Inc.’s holdings in Coinbase Global were worth $1,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Barrett & Company Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter worth $26,000. AlphaMark Advisors LLC acquired a new stake in shares of Coinbase Global in the fourth quarter worth $33,000. Harbor Investment Advisory LLC grew its stake in shares of Coinbase Global by 68.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. Coston McIsaac & Partners acquired a new stake in shares of Coinbase Global in the fourth quarter worth $52,000. Finally, Steph & Co. grew its stake in shares of Coinbase Global by 100.0% in the fourth quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock worth $52,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Coinbase Global stock opened at $225.86 on Tuesday. The stock has a 50-day simple moving average of $226.26 and a 200 day simple moving average of $157.80. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The stock has a market capitalization of $54.72 billion, a price-to-earnings ratio of 836.52 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the previous year, the business posted ($2.46) earnings per share. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. On average, research analysts anticipate that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on COIN. The Goldman Sachs Group upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research note on Friday, March 8th. JPMorgan Chase & Co. lifted their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. JMP Securities reiterated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Piper Sandler lifted their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, HC Wainwright lifted their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $165.43.

Insider Activity at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $213.99, for a total value of $3,505,156.20. Following the completion of the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at $997,621.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the sale, the insider now directly owns 61,665 shares in the company, valued at $7,462,698.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of Coinbase Global stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $213.99, for a total value of $3,505,156.20. Following the completion of the sale, the director now owns 4,662 shares of the company’s stock, valued at $997,621.38. The disclosure for this sale can be found here. Insiders sold 607,358 shares of company stock valued at $106,945,156 over the last ninety days. 33.16% of the stock is owned by insiders.

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.