Skandinaviska Enskilda Banken AB publ Has $8.40 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 8.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,825 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,002 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Coinbase Global were worth $8,399,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of COIN. Jump Financial LLC acquired a new position in shares of Coinbase Global during the 4th quarter valued at $220,000. Dimensional Fund Advisors LP raised its holdings in Coinbase Global by 16.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 427,461 shares of the cryptocurrency exchange’s stock worth $74,417,000 after buying an additional 58,878 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in Coinbase Global during the fourth quarter worth $297,000. PNC Financial Services Group Inc. raised its holdings in Coinbase Global by 12.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,640 shares of the cryptocurrency exchange’s stock worth $981,000 after buying an additional 610 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in Coinbase Global during the fourth quarter worth $431,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the transaction, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total transaction of $243,360.00. Following the completion of the transaction, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $219.45, for a total transaction of $2,194,500.00. Following the transaction, the insider now owns 71,195 shares of the company’s stock, valued at approximately $15,623,742.75. The disclosure for this sale can be found here. Insiders sold 111,562 shares of company stock worth $23,115,399 over the last quarter. 23.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of several research reports. Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Bank of America lowered their price objective on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Barclays upgraded shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $206.00 to $169.00 in a report on Friday, September 6th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average target price of $246.06.

Coinbase Global Price Performance

COIN opened at $170.09 on Friday. The firm has a market cap of $41.77 billion, a P/E ratio of 33.95 and a beta of 3.36. The firm has a 50-day moving average of $198.85 and a 200 day moving average of $221.59. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a fifty-two week low of $69.63 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.93). The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. Coinbase Global’s quarterly revenue was up 104.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.42) EPS. On average, research analysts expect that Coinbase Global, Inc. will post 3.96 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.