Coinbase Global, Inc. (NASDAQ:COIN) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 73,643 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,818 shares during the period. Asset Management One Co. Ltd.’s holdings in Coinbase Global were worth $12,684,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Farther Finance Advisors LLC boosted its stake in shares of Coinbase Global by 4.3% during the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after acquiring an additional 40 shares in the last quarter. IPG Investment Advisors LLC raised its holdings in Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange’s stock worth $561,000 after purchasing an additional 45 shares during the period. Vivaldi Capital Management LP boosted its position in Coinbase Global by 0.3% during the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange’s stock worth $3,437,000 after purchasing an additional 47 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Coinbase Global by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange’s stock valued at $2,746,000 after purchasing an additional 55 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in Coinbase Global by 2.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange’s stock valued at $653,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COIN shares. Oppenheimer reaffirmed an “outperform” rating and set a $395.00 target price (up from $293.00) on shares of Coinbase Global in a research note on Thursday. Citigroup reissued a “buy” rating on shares of Coinbase Global in a report on Wednesday. Monness Crespi & Hardt raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, May 13th. Rosenblatt Securities reissued a “buy” rating and set a $300.00 target price on shares of Coinbase Global in a research note on Monday, June 16th. Finally, Benchmark raised their price target on shares of Coinbase Global from $301.00 to $421.00 and gave the company a “buy” rating in a research note on Monday. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $291.06.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the transaction, the chief financial officer now directly owns 107,291 shares in the company, valued at approximately $21,458,200. This represents a 6.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total value of $1,981,200.00. Following the sale, the insider now directly owns 83,313 shares of the company’s stock, valued at $16,505,971.56. The trade was a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 212,915 shares of company stock worth $48,349,215 in the last 90 days. Insiders own 17.65% of the company’s stock.

Coinbase Global Stock Up 5.5%

NASDAQ COIN opened at $375.07 on Friday. The business’s fifty day simple moving average is $246.10 and its 200-day simple moving average is $241.58. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm has a market cap of $95.22 billion, a PE ratio of 70.24, a P/E/G ratio of 25.99 and a beta of 3.61. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $382.00.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. Coinbase Global’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.53 earnings per share. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Coinbase Global Profile

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.