Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Coinbase Global, Inc. (NASDAQ:COIN)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,843 shares of the cryptocurrency exchange's stock after purchasing an additional 12,495 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.07% of Coinbase Global worth $28,735,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of COIN. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new position in Coinbase Global during the 4th quarter worth approximately $35,000. Brooklands Fund Management Ltd acquired a new stake in Coinbase Global in the 4th quarter valued at $37,245,000. Finally, Ameriflex Group Inc. bought a new stake in Coinbase Global during the fourth quarter worth about $37,000. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on COIN shares. China Renaissance assumed coverage on Coinbase Global in a research note on Tuesday, June 17th. They set a "buy" rating and a $353.30 target price for the company. Wall Street Zen raised Coinbase Global from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Sanford C. Bernstein upped their price target on shares of Coinbase Global from $310.00 to $510.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. The Goldman Sachs Group boosted their target price on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Finally, Argus initiated coverage on Coinbase Global in a research note on Monday, July 14th. They issued a "buy" rating and a $400.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $352.18.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $317.09, for a total transaction of $7,927,250.00. Following the transaction, the chief executive officer owned 526 shares in the company, valued at $166,789.34. The trade was a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alesia J. Haas sold 3,000 shares of the firm's stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold 1,176,221 shares of company stock valued at $434,800,609 in the last ninety days. Insiders own 23.43% of the company's stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded up $3.00 during mid-day trading on Tuesday, reaching $322.62. The company's stock had a trading volume of 9,936,442 shares, compared to its average volume of 14,744,931. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The stock has a fifty day moving average of $334.34 and a two-hundred day moving average of $259.98. The firm has a market capitalization of $82.89 billion, a PE ratio of 52.66 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data 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 net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The company's quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.