1,166,836 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Norges Bank

Norges Bank purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,166,836 shares of the cryptocurrency exchange’s stock, valued at approximately $202,936,000. Norges Bank owned approximately 0.49% of Coinbase Global as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Coinbase Global in the fourth quarter worth about $237,000. Mizuho Markets Americas LLC increased its holdings in Coinbase Global by 12.5% in the fourth quarter. Mizuho Markets Americas LLC now owns 47,598 shares of the cryptocurrency exchange’s stock valued at $8,278,000 after buying an additional 5,300 shares during the last quarter. Independent Advisor Alliance increased its holdings in Coinbase Global by 2.5% in the fourth quarter. Independent Advisor Alliance now owns 4,476 shares of the cryptocurrency exchange’s stock valued at $778,000 after buying an additional 110 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Coinbase Global by 57.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 65,000 shares of the cryptocurrency exchange’s stock valued at $11,305,000 after buying an additional 23,628 shares during the last quarter. Finally, Level Four Advisory Services LLC bought a new stake in Coinbase Global in the fourth quarter valued at about $382,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In other news, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $260.00, for a total transaction of $297,700.00. Following the completion of the sale, the director now owns 4,833 shares in the company, valued at approximately $1,256,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Coinbase Global news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $260.00, for a total transaction of $297,700.00. Following the sale, the director now directly owns 4,833 shares of the company’s stock, valued at approximately $1,256,580. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the sale, the director now directly owns 4,662 shares in the company, valued at $943,122.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 470,563 shares of company stock worth $104,873,137. Insiders own 33.16% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $231.51 on Thursday. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The stock has a fifty day moving average of $232.90 and a 200-day moving average of $178.81. The company has a market capitalization of $56.85 billion, a PE ratio of 46.21 and a beta of 3.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.02.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Friday, May 3rd. Barclays upped their target price on Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a report on Monday, May 6th. Wedbush upped their target price on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. The Goldman Sachs Group lowered their target price on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, HC Wainwright upped their target price on Coinbase Global from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $214.67.

Coinbase Global 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.