DekaBank Deutsche Girozentrale Grows Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

DekaBank Deutsche Girozentrale increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 20.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,745 shares of the cryptocurrency exchange’s stock after purchasing an additional 4,416 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Coinbase Global were worth $4,807,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ancora Advisors LLC boosted its stake in shares of Coinbase Global by 144.0% in the 4th quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after purchasing an additional 435 shares in the last quarter. Tyler Stone Wealth Management purchased a new stake in shares of Coinbase Global in the 2nd quarter valued at $31,000. AlphaMark Advisors LLC purchased a new stake in shares of Coinbase Global in the 4th quarter valued at $33,000. Bessemer Group Inc. boosted its stake in shares of Coinbase Global by 100.0% in the 4th quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock valued at $36,000 after purchasing an additional 500 shares in the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Coinbase Global in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 4.8 %

Shares of Coinbase Global stock opened at $263.01 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day moving average of $213.33 and a 200 day moving average of $149.38. The firm has a market cap of $63.72 billion, a price-to-earnings ratio of 974.11 and a beta of 3.41. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. The company had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. Coinbase Global’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period last year, the business earned ($2.46) EPS. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 2.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COIN shares. The Goldman Sachs Group raised shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research note on Friday, March 8th. Mizuho increased their price target on shares of Coinbase Global from $60.00 to $84.00 and gave the company an “underperform” rating in a research report on Thursday, February 22nd. Needham & Company LLC increased their price target on shares of Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. Piper Sandler increased their price target on shares of Coinbase Global from $125.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, HC Wainwright increased their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $156.65.

Insider Activity at Coinbase Global

In related news, COO Emilie Choi sold 700 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at approximately $29,333,751.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frederick Ernest Ehrsam III sold 82,130 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $119.73, for a total transaction of $9,833,424.90. Following the sale, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $558,181.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Emilie Choi sold 700 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now directly owns 225,142 shares in the company, valued at $29,333,751.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 661,539 shares of company stock valued at $109,628,776. 33.16% of the stock is owned by insiders.

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.