Asset Management One Co. Ltd. Increases Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Asset Management One Co. Ltd. lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,643 shares of the cryptocurrency exchange's stock after acquiring an additional 3,818 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Coinbase Global were worth $12,684,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter worth $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global during the fourth quarter worth $26,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global during the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Coinbase Global during the fourth quarter worth $35,000. Finally, Brooklands Fund Management Ltd purchased a new stake in shares of Coinbase Global during the fourth quarter worth $37,245,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 1,741 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $247.50, for a total transaction of $430,897.50. Following the completion of the sale, the chief financial officer now owns 10,450 shares in the company, valued at approximately $2,586,375. This represents a 14.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the sale, the chief executive officer now owns 526 shares of the company's stock, valued at $88,646.78. This trade represents a 96.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 665,915 shares of company stock worth $212,665,732. Company insiders own 17.65% of the company's stock.

Analysts Set New Price Targets

COIN has been the topic of a number of recent research reports. Citigroup reaffirmed a "buy" rating on shares of Coinbase Global in a research report on Wednesday. Jefferies Financial Group reaffirmed a "hold" rating and set a $260.00 price objective (up previously from $210.00) on shares of Coinbase Global in a research report on Tuesday, May 27th. Needham & Company LLC lowered their target price on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Oppenheimer reiterated an "outperform" rating and set a $395.00 target price (up previously from $293.00) on shares of Coinbase Global in a research note on Thursday. Finally, Mizuho lowered their target price on shares of Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Coinbase Global presently has an average rating of "Moderate Buy" and a consensus price target of $291.06.

Coinbase Global Stock Performance

Shares of COIN stock traded down $21.64 during mid-day trading on Friday, hitting $353.43. 28,945,154 shares of the stock were exchanged, compared to its average volume of 10,698,473. The stock's fifty day simple moving average is $246.10 and its two-hundred day simple moving average is $241.58. The stock has a market capitalization of $89.73 billion, a price-to-earnings ratio of 66.19, a P/E/G ratio of 25.99 and a beta of 3.61. Coinbase Global, Inc. has a 12-month low of $142.58 and a 12-month high of $382.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued 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 analysts' expectations of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.53 EPS. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 EPS 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.