Arizona State Retirement System Has $9.82 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Arizona State Retirement System increased its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,016 shares of the cryptocurrency exchange's stock after acquiring an additional 1,757 shares during the period. Arizona State Retirement System's holdings in Coinbase Global were worth $9,820,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Coinbase Global by 4.3% in the 4th quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after buying an additional 40 shares in the last quarter. IPG Investment Advisors LLC lifted its stake in shares of 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 acquiring an additional 45 shares during the period. Vivaldi Capital Management LP boosted its holdings in shares of Coinbase Global by 0.3% in the fourth quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after acquiring an additional 47 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of 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 acquiring an additional 55 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Coinbase Global by 2.3% during 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 acquiring an additional 60 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on COIN shares. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective on the stock in a research note on Monday, May 12th. Citigroup restated an "outperform" rating on shares of Coinbase Global in a research report on Monday. Cantor Fitzgerald initiated coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Needham & Company LLC decreased their price target on Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $313.10.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 3,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total transaction of $1,080,600.00. Following the sale, the chief financial officer owned 97,366 shares in the company, valued at approximately $35,071,233.20. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the sale, the insider directly owned 82,328 shares in the company, valued at approximately $28,702,833.92. This represents a 10.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,245,915 shares of company stock valued at $447,462,456. Corporate insiders own 17.65% of the company's stock.

Coinbase Global Price Performance

Shares of Coinbase Global stock traded up $12.55 during trading on Thursday, hitting $410.75. 16,730,775 shares of the company's stock traded hands, compared to its average volume of 11,004,714. The company has a market cap of $104.28 billion, a PE ratio of 76.92, a PEG ratio of 30.30 and a beta of 3.70. The firm's fifty day moving average price is $297.88 and its 200 day moving average price is $250.10. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $417.73. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the business earned $2.53 EPS. Coinbase Global's quarterly revenue was up 24.2% compared to the same quarter last year. Analysts forecast 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.