Coinbase Global, Inc. $COIN Shares Sold by Nikko Asset Management Americas Inc.

by · The Markets Daily

Nikko Asset Management Americas Inc. reduced its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 10.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,096,663 shares of the cryptocurrency exchange’s stock after selling 256,836 shares during the period. Coinbase Global makes up approximately 7.3% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its biggest holding. Nikko Asset Management Americas Inc.’s holdings in Coinbase Global were worth $734,671,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of COIN. Evelyn Partners Investment Management Europe Ltd raised its position in Coinbase Global by 92.3% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after acquiring an additional 36 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Coinbase Global in the 2nd quarter worth approximately $30,000. City State Bank purchased a new position in shares of Coinbase Global during the 2nd quarter valued at approximately $33,000. Financial Gravity Companies Inc. purchased a new position in shares of Coinbase Global during the 2nd quarter valued at approximately $34,000. Finally, Fourth Dimension Wealth LLC lifted its stake in shares of Coinbase Global by 300.0% in the 2nd quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock valued at $35,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $267.46 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $306.99 and a 200 day moving average price of $318.61. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $444.64. The stock has a market cap of $72.12 billion, a P/E ratio of 23.14 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN – Get Free Report) last posted its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The company 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 company’s revenue for the quarter was up 55.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. Sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COIN. Benchmark reissued a “buy” rating on shares of Coinbase Global in a research note on Friday, October 31st. B. Riley increased their price target on Coinbase Global from $185.00 to $243.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. The Goldman Sachs Group dropped their price objective on Coinbase Global from $314.00 to $294.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. China Renaissance upped their target price on Coinbase Global from $444.60 to $479.30 in a research note on Monday, November 3rd. Finally, HC Wainwright upgraded Coinbase Global from a “sell” rating to a “buy” rating and increased their target price for the company from $300.00 to $425.00 in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $394.67.

View Our Latest Research Report on Coinbase Global

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 2,750 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $280.27, for a total value of $770,742.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Grewal sold 976 shares of the stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $260.00, for a total value of $253,760.00. Following the completion of the transaction, the insider directly owned 74,835 shares in the company, valued at $19,457,100. This trade represents a 1.29% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 815,846 shares of company stock valued at $248,642,353. Insiders own 16.56% of the company’s stock.

Coinbase Global Company Profile

(Free Report)

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.

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