Daiwa Securities Group Inc. Has $2.58 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Daiwa Securities Group Inc. boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,464 shares of the cryptocurrency exchange’s stock after buying an additional 1,600 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Coinbase Global were worth $2,577,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of COIN. Banco Santander S.A. grew its holdings in shares of Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares during the last quarter. Global Retirement Partners LLC grew its stake in Coinbase Global by 135.1% during the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global during the third quarter worth approximately $29,756,000. Lindbrook Capital LLC raised its stake in shares of Coinbase Global by 30.2% in the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Coinbase Global in the 2nd quarter worth approximately $2,908,000. 68.84% of the stock is currently owned by institutional investors.

Insider Transactions at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total value of $447,465.00. Following the completion of the transaction, the chief operating officer now owns 177,576 shares in the company, valued at $52,972,696.56. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.10, for a total transaction of $1,701,000.00. Following the sale, the insider now owns 74,956 shares in the company, valued at approximately $12,750,015.60. The trade was a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 239,219 shares of company stock valued at $65,593,121 over the last 90 days. 23.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

COIN has been the subject of a number of recent analyst reports. Monness Crespi & Hardt initiated coverage on Coinbase Global in a report on Monday, October 28th. They set a “buy” rating and a $245.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Barclays increased their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Mizuho upped their target price on shares of Coinbase Global from $160.00 to $178.00 and gave the stock an “underperform” rating in a research report on Thursday, October 31st. Finally, B. Riley began coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $255.22.

Coinbase Global Stock Up 6.0 %

Shares of NASDAQ:COIN opened at $310.98 on Thursday. The company has a 50 day moving average price of $219.83 and a two-hundred day moving average price of $216.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $77.85 billion, a PE ratio of 53.07 and a beta of 3.34. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $341.75.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Coinbase Global’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. Analysts forecast that Coinbase Global, Inc. will post 4.27 earnings per share 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.