Mirae Asset Global Investments Co. Ltd. Grows Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Mirae Asset Global Investments Co. Ltd. increased its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 222.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,233 shares of the cryptocurrency exchange's stock after acquiring an additional 59,513 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Coinbase Global were worth $14,852,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KCM Investment Advisors LLC bought a new position in Coinbase Global during the 4th quarter valued at approximately $507,000. Kingswood Wealth Advisors LLC raised its position in Coinbase Global by 124.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock valued at $453,000 after purchasing an additional 1,454 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Coinbase Global by 10.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock valued at $610,000 after purchasing an additional 232 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in Coinbase Global by 87.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock valued at $578,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new position in Coinbase Global during the 1st quarter valued at approximately $243,000. Institutional investors own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 3,000 shares of Coinbase Global stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $360.20, for a total value of $1,080,600.00. Following the sale, the chief financial officer directly owned 97,366 shares of the company's stock, valued at approximately $35,071,233.20. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 113,735 shares of Coinbase Global stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $363.15, for a total value of $41,302,865.25. Following the completion of the sale, the chief executive officer directly owned 526 shares in the company, valued at $191,016.90. This trade represents a 99.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 665,915 shares of company stock valued at $212,665,732. 17.65% of the stock is owned by company insiders.

Coinbase Global Price Performance

NASDAQ:COIN traded up $19.12 on Wednesday, reaching $354.45. 12,436,051 shares of the company's stock traded hands, compared to its average volume of 10,773,935. 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 stock has a 50-day simple moving average of $259.28 and a 200-day simple moving average of $242.64. The firm has a market cap of $89.99 billion, a PE ratio of 66.38, a P/E/G ratio of 24.53 and a beta of 3.70. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $382.00.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results 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). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the firm posted $2.53 earnings per share. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

COIN has been the subject of several research reports. Sanford C. Bernstein increased their target price on Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Mizuho decreased their target price on Coinbase Global from $280.00 to $217.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. The Goldman Sachs Group increased their target price on Coinbase Global from $189.00 to $209.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Rosenblatt Securities restated a "buy" rating and issued a $300.00 price target on shares of Coinbase Global in a research note on Monday, June 16th. Finally, William Blair started coverage on Coinbase Global in a research note on Wednesday, June 11th. They issued an "outperform" rating on the stock. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $291.06.

Coinbase Global Company 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.