Rakuten Securities Inc. Invests $2.76 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Rakuten Securities Inc. purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,892 shares of the cryptocurrency exchange’s stock, valued at approximately $2,764,000. Coinbase Global makes up approximately 2.2% of Rakuten Securities Inc.’s portfolio, making the stock its 11th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James & Associates increased its holdings in Coinbase Global by 65.5% in the 4th quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after purchasing an additional 9,564 shares in the last quarter. Mariner LLC increased its stake in shares of Coinbase Global by 5.4% during the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after acquiring an additional 4,259 shares during the period. Itau Unibanco Holding S.A. increased its stake in shares of Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after acquiring an additional 125 shares during the period. Oak Thistle LLC acquired a new position in shares of Coinbase Global during the fourth quarter valued at approximately $1,035,000. Finally, Barclays PLC grew its position in Coinbase Global by 41.5% in the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock worth $30,394,000 after buying an additional 118,670 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 4.7 %

Shares of COIN traded down $10.34 during midday trading on Wednesday, reaching $208.49. 5,838,690 shares of the stock were exchanged, compared to its average volume of 13,994,146. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $219.76 and its two-hundred day moving average is $153.77. The company has a market capitalization of $50.51 billion, a P/E ratio of 810.48 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period last year, the business posted ($2.46) earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of recent analyst reports. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, April 3rd. Raymond James upgraded shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a report on Tuesday, March 12th. HC Wainwright lifted their target price 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. Finally, Needham & Company LLC boosted 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. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $163.70.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 81,530 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $121.29, for a total value of $9,888,773.70. Following the completion of the sale, the director now directly owns 120,214 shares in the company, valued at $14,580,756.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 81,530 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $121.29, for a total value of $9,888,773.70. Following the completion of the sale, the director now directly owns 120,214 shares in the company, valued at approximately $14,580,756.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brian Armstrong sold 23,075 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $134,813.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 562,203 shares of company stock valued at $96,530,482. 33.16% of the stock is owned by company insiders.

Coinbase Global Company 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.