13,641 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Acquired by DnB Asset Management AS

DnB Asset Management AS acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 13,641 shares of the cryptocurrency exchange’s stock, valued at approximately $641,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Coinbase Global by 4.5% in the 1st quarter. Vanguard Group Inc. now owns 6,025,188 shares of the cryptocurrency exchange’s stock valued at $1,143,942,000 after acquiring an additional 260,538 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in Coinbase Global by 13.5% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,904,434 shares of the cryptocurrency exchange’s stock valued at $927,428,000 after acquiring an additional 583,576 shares in the last quarter. IDG Technology Venture Investment IV LLC acquired a new position in Coinbase Global in the 4th quarter valued at $431,538,000. Sozo Ventures GP II L.P. acquired a new position in Coinbase Global in the 4th quarter valued at $273,832,000. Finally, Alliancebernstein L.P. raised its holdings in Coinbase Global by 2.0% in the 4th quarter. Alliancebernstein L.P. now owns 610,530 shares of the cryptocurrency exchange’s stock valued at $154,079,000 after acquiring an additional 11,877 shares in the last quarter. 49.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Jennifer N. Jones sold 4,512 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $97.24, for a total value of $438,746.88. Following the transaction, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at approximately $2,666,029.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Jennifer N. Jones sold 4,512 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $97.24, for a total value of $438,746.88. Following the transaction, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at approximately $2,666,029.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tobias Lutke acquired 4,023 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was acquired at an average cost of $90.55 per share, for a total transaction of $364,282.65. Following the completion of the purchase, the director now directly owns 33,453 shares in the company, valued at $3,029,169.15. The disclosure for this purchase can be found here. Insiders have acquired 29,083 shares of company stock valued at $2,201,152 in the last ninety days. 36.10% of the stock is owned by company insiders.

Coinbase Global Trading Down 0.4 %

NASDAQ COIN opened at $67.64 on Thursday. The business’s 50-day moving average price is $73.10 and its two-hundred day moving average price is $96.49. Coinbase Global, Inc. has a 12 month low of $40.83 and a 12 month high of $368.90. The firm has a market capitalization of $14.85 billion, a PE ratio of -33.49 and a beta of 3.31. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.58.

Coinbase Global (NASDAQ:COINGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The cryptocurrency exchange reported ($4.95) EPS for the quarter, missing analysts’ consensus estimates of ($3.04) by ($1.91). The company had revenue of $808.33 million during the quarter, compared to the consensus estimate of $877.32 million. Coinbase Global had a negative net margin of 4.79% and a negative return on equity of 4.61%. On average, analysts expect that Coinbase Global, Inc. will post -10.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COIN. Mizuho dropped their price objective on Coinbase Global from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, July 14th. JMP Securities lowered their price target on Coinbase Global from $205.00 to $195.00 and set a “market outperform” rating for the company in a report on Wednesday, August 10th. DA Davidson boosted their price target on Coinbase Global from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. Redburn Partners cut Coinbase Global from a “buy” rating to a “neutral” rating in a report on Thursday, June 23rd. Finally, Needham & Company LLC lowered their price target on Coinbase Global from $173.00 to $89.00 and set a “buy” rating for the company in a report on Wednesday, June 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has an average rating of “Moderate Buy” and an average target price of $164.14.

Coinbase Global Company Profile

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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