Daiwa Securities Group Inc. Has $2 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Daiwa Securities Group Inc. reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,472 shares of the cryptocurrency exchange’s stock after selling 381 shares during the period. Daiwa Securities Group Inc.’s holdings in Coinbase Global were worth $1,995,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup raised their price objective on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Bank of America increased their target price on Coinbase Global from $92.00 to $110.00 and gave the company an “underperform” rating in a research report on Wednesday, April 10th. Piper Sandler increased their target price on Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. JMP Securities reiterated a “market outperform” rating on shares of Coinbase Global in a research report on Friday, March 22nd. Finally, Barclays increased their target price on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $165.43.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global 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 transaction, the director now directly owns 120,214 shares of the company’s stock, valued at $14,580,756.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $9,888,773.70. Following the completion of the sale, the director now owns 120,214 shares in the company, valued at $14,580,756.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the sale, the insider now owns 61,665 shares of the company’s stock, valued at approximately $7,462,698.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 607,358 shares of company stock valued at $106,945,156. 33.16% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

Shares of COIN opened at $225.86 on Tuesday. Coinbase Global, Inc. has a 52-week low of $46.43 and a 52-week high of $283.48. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The business’s 50 day moving average price is $226.26 and its two-hundred day moving average price is $157.80. The firm has a market cap of $54.72 billion, a PE ratio of 836.52 and a beta of 3.41.

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, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same period in the previous year, the firm earned ($2.46) earnings per share. The company’s revenue was up 51.6% compared to the same quarter last year. On average, equities analysts anticipate that Coinbase Global, Inc. will post 2.43 EPS for the current year.

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.