Achmea Investment Management B.V. Makes New $1.78 Million Investment in Coinbase Global, Inc. $COIN

Achmea Investment Management B.V. acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,073 shares of the cryptocurrency exchange’s stock, valued at approximately $1,778,000.

Other large investors have also recently made changes to their positions in the company. Cadent Capital Advisors LLC grew its position in Coinbase Global by 1.0% during the second quarter. Cadent Capital Advisors LLC now owns 3,162 shares of the cryptocurrency exchange’s stock valued at $1,108,000 after buying an additional 30 shares during the period. Ameriflex Group Inc. boosted its stake in shares of Coinbase Global by 20.0% during the 2nd quarter. Ameriflex Group Inc. now owns 180 shares of the cryptocurrency exchange’s stock worth $68,000 after acquiring an additional 30 shares in the last quarter. Pettinga Financial Advisors LLC grew its position in shares of Coinbase Global by 2.6% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,321 shares of the cryptocurrency exchange’s stock valued at $463,000 after acquiring an additional 34 shares during the period. Hemington Wealth Management increased its stake in shares of Coinbase Global by 12.1% in the 2nd quarter. Hemington Wealth Management now owns 352 shares of the cryptocurrency exchange’s stock valued at $123,000 after purchasing an additional 38 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in Coinbase Global by 13.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 323 shares of the cryptocurrency exchange’s stock worth $113,000 after purchasing an additional 39 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COIN. Monness Crespi & Hardt lowered Coinbase Global from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. UBS Group set a $404.00 target price on Coinbase Global in a research report on Friday, October 24th. Keefe, Bruyette & Woods cut their price target on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating for the company in a report on Monday, August 4th. HC Wainwright upgraded shares of Coinbase Global from a “sell” rating to a “buy” rating and upped their price objective for the stock from $300.00 to $425.00 in a research report on Thursday, October 30th. Finally, Rosenblatt Securities lifted their target price on shares of Coinbase Global from $450.00 to $470.00 in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $397.36.

Coinbase Global Trading Up 4.7%

Shares of Coinbase Global stock opened at $309.14 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The stock’s 50 day simple moving average is $333.93 and its 200-day simple moving average is $310.35. The stock has a market cap of $79.43 billion, a P/E ratio of 26.74 and a beta of 3.67. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm’s revenue was up 55.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. Analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $355.47, for a total transaction of $8,886,750.00. Following the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $186,977.22. The trade was a 97.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the sale, the insider directly owned 82,328 shares of the company’s stock, valued at $25,587,542.40. This represents a 15.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 205,657 shares of company stock worth $67,989,576 in the last quarter. Company insiders own 17.65% of the company’s stock.

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.