Achmea Investment Management B.V. Invests $5.09 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Achmea Investment Management B.V. acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,488 shares of the cryptocurrency exchange’s stock, valued at approximately $5,087,000.

Several other institutional investors have also recently modified their holdings of COIN. Vestcor Inc raised its position in Coinbase Global by 22.6% during the fourth quarter. Vestcor Inc now owns 10,580 shares of the cryptocurrency exchange’s stock valued at $2,627,000 after acquiring an additional 1,950 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Coinbase Global during the fourth quarter valued at approximately $56,142,000. Rakuten Securities Inc. raised its position in Coinbase Global by 19.2% during the fourth quarter. Rakuten Securities Inc. now owns 17,659 shares of the cryptocurrency exchange’s stock valued at $4,385,000 after acquiring an additional 2,842 shares in the last quarter. Avantax Advisory Services Inc. raised its position in Coinbase Global by 15.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,430 shares of the cryptocurrency exchange’s stock valued at $852,000 after acquiring an additional 461 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock valued at $239,000 after acquiring an additional 40 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $183.12 on Friday. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75. The business’s fifty day simple moving average is $255.08 and its 200-day simple moving average is $240.49. The firm has a market cap of $46.49 billion, a PE ratio of 19.28 and a beta of 3.66. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COIN. Canaccord Genuity Group lifted their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Barclays raised their price objective on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. JMP Securities raised their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, Rosenblatt Securities initiated coverage on Coinbase Global in a research note on Friday, March 7th. They issued a “buy” rating and a $305.00 price target on the stock. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.89.

Insider Activity

In related news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $2,846,236.91. This represents a 52.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,455 shares of company stock valued at $60,955,968 in the last quarter. Insiders own 23.43% of the company’s stock.

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.