DnB Asset Management AS increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 21.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,658 shares of the cryptocurrency exchange’s stock after buying an additional 3,130 shares during the quarter. DnB Asset Management AS’s holdings in Coinbase Global were worth $1,193,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in COIN. Brighton Jones LLC boosted its holdings in shares of Coinbase Global by 12.5% during the 1st quarter. Brighton Jones LLC now owns 1,494 shares of the cryptocurrency exchange’s stock valued at $284,000 after buying an additional 166 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Coinbase Global by 15.3% in the 1st quarter. International Assets Investment Management LLC now owns 1,352 shares of the cryptocurrency exchange’s stock worth $257,000 after purchasing an additional 179 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its stake in Coinbase Global by 21.7% in the 1st quarter. Householder Group Estate & Retirement Specialist LLC now owns 1,121 shares of the cryptocurrency exchange’s stock worth $76,000 after purchasing an additional 200 shares in the last quarter. Synovus Financial Corp boosted its stake in Coinbase Global by 26.6% in the 1st quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock worth $209,000 after purchasing an additional 232 shares in the last quarter. Finally, Equitable Holdings Inc. boosted its stake in Coinbase Global by 6.9% in the 1st quarter. Equitable Holdings Inc. now owns 3,649 shares of the cryptocurrency exchange’s stock worth $693,000 after purchasing an additional 235 shares in the last quarter. 45.21% of the stock is owned by hedge funds and other institutional investors.
Coinbase Global Stock Up 0.8 %
NASDAQ COIN opened at $78.72 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $18.46 billion, a P/E ratio of -7.71 and a beta of 2.60. Coinbase Global, Inc. has a one year low of $31.55 and a one year high of $116.30. The stock has a 50 day moving average price of $60.47 and a 200-day moving average price of $58.62.
Insider Buying and Selling
In related news, CEO Brian Armstrong sold 29,730 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $55.49, for a total value of $1,649,717.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Coinbase Global news, CEO Brian Armstrong sold 29,730 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $55.49, for a total value of $1,649,717.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gokul Rajaram sold 4,580 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $80.03, for a total value of $366,537.40. Following the completion of the sale, the director now owns 19,718 shares in the company, valued at approximately $1,578,031.54. The disclosure for this sale can be found here. Insiders sold a total of 357,869 shares of company stock worth $23,452,678 over the last three months. 33.16% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Berenberg Bank assumed coverage on Coinbase Global in a research report on Monday, May 15th. They issued a “hold” rating and a $55.00 target price for the company. Needham & Company LLC decreased their target price on Coinbase Global from $73.00 to $70.00 in a research report on Monday, May 1st. Citigroup lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating and reduced their price target for the company from $80.00 to $65.00 in a research report on Monday, May 1st. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of Coinbase Global in a research report on Monday, March 13th. Finally, Oppenheimer lowered shares of Coinbase Global from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 23rd. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.28.
Coinbase Global Company Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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