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

Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 34.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,214 shares of the cryptocurrency exchange's stock after acquiring an additional 1,585 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Coinbase Global were worth $1,070,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in Coinbase Global during the 4th quarter worth approximately $25,000. Copia Wealth Management purchased a new stake in Coinbase Global during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Coinbase Global during the 4th quarter worth approximately $35,000. Brooklands Fund Management Ltd purchased a new stake in Coinbase Global during the 4th quarter worth approximately $37,245,000. Finally, Ameriflex Group Inc. purchased a new stake in Coinbase Global during the 4th quarter worth approximately $37,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares of the company's stock, valued at $190,732.86. This trade represents a 99.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 1,185,704 shares of company stock worth $438,918,732 over the last ninety days. Company insiders own 17.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COIN. The Goldman Sachs Group lifted their price objective on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a report on Monday, July 7th. JPMorgan Chase & Co. dropped their price objective on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Compass Point restated a "sell" rating and set a $248.00 price objective (down from $330.00) on shares of Coinbase Global in a report on Monday, August 4th. Barclays dropped their price objective on Coinbase Global from $359.00 to $352.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Finally, Keefe, Bruyette & Woods dropped their price target on Coinbase Global from $355.00 to $335.00 and set a "market perform" rating on the stock in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $352.18.

Coinbase Global Trading Down 0.6%

NASDAQ:COIN opened at $324.89 on Friday. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64. The stock has a market cap of $83.48 billion, a price-to-earnings ratio of 31.42 and a beta of 3.70. The business has a fifty day moving average of $338.64 and a 200-day moving average of $261.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the company posted $0.14 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts predict that Coinbase Global, Inc. will post 7.22 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.

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