Siemens Fonds Invest GmbH Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

Siemens Fonds Invest GmbH lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2,578.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,095 shares of the cryptocurrency exchange’s stock after buying an additional 52,075 shares during the quarter. Coinbase Global makes up about 0.7% of Siemens Fonds Invest GmbH’s holdings, making the stock its 24th largest position. Siemens Fonds Invest GmbH’s holdings in Coinbase Global were worth $13,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $536,484,000. Groupama Asset Managment acquired a new position in Coinbase Global during the 4th quarter worth approximately $372,450,000. Proficio Capital Partners LLC grew its holdings in Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange’s stock worth $81,612,000 after acquiring an additional 302,595 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Coinbase Global by 614.8% during the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock valued at $85,253,000 after buying an additional 295,313 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the sale, the insider now owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This trade represents a 11.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,517 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $260.98, for a total transaction of $4,049,626.66. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,718,628.66. This represents a 59.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,764 shares of company stock worth $35,671,592 over the last ninety days. Company insiders own 17.65% of the company’s stock.

Coinbase Global Stock Down 7.2%

Shares of Coinbase Global stock opened at $244.44 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market cap of $62.06 billion, a price-to-earnings ratio of 25.73 and a beta of 3.62. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $349.75. The stock has a 50-day simple moving average of $190.16 and a 200-day simple moving average of $243.74.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the company posted $2.53 EPS. The business’s revenue was up 24.2% on a year-over-year basis. On average, equities research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. Bank of America lowered their price objective on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. HC Wainwright reissued a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $260.00 price target on shares of Coinbase Global in a research note on Monday. Mizuho lowered their target price on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Coinbase Global in a report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.75.

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.