Nykredit A S Bets Big on Coinbase with $4.4 Million Stake
Nykredit A S has acquired a new stake in Coinbase Global, Inc., purchasing approximately $4.4 million worth of shares during the second quarter.
This is not an isolated instance; several other institutional investors have also added to or reduced their stakes in COIN. Archer Investment Corp purchased a new position in shares of Coinbase Global in the second quarter worth $26,000. MV Capital Management Inc. and Palisade Asset Management LLC bought new stakes in Coinbase Global during the fourth quarter valued at $27,000 and $29,000 respectively.
Despite this influx of institutional investment, COIN's stock price has not been immune to market fluctuations. The company's revenue was down 18.5% compared to the same quarter last year, and analysts have set a consensus rating of 'Hold' with an average target price of $216.87.