MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $40.88 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 23.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 164,628 shares of the cryptocurrency exchange's stock after purchasing an additional 30,802 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.07% of Coinbase Global worth $40,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in COIN. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new position in Coinbase Global in the 4th quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Coinbase Global in the 4th quarter worth approximately $50,000. Finally, BNP Paribas bought a new position in Coinbase Global in the 4th quarter worth approximately $50,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 7,575 shares of Coinbase Global stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the transaction, the chief financial officer now owns 114,866 shares in the company, valued at approximately $22,973,200. The trade was a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 1,952 shares of Coinbase Global stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $250.00, for a total transaction of $488,000.00. Following the completion of the transaction, the insider now owns 81,773 shares of the company's stock, valued at $20,443,250. This trade represents a 2.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,764 shares of company stock worth $35,671,592. Company insiders own 17.65% of the company's stock.

Coinbase Global Stock Up 9.0%

Coinbase Global stock traded up $22.02 during mid-day trading on Friday, hitting $266.46. 72,432,540 shares of the company's stock were exchanged, compared to its average volume of 10,164,986. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $67.65 billion, a P/E ratio of 28.05 and a beta of 3.62. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $349.75. The stock has a 50 day moving average of $191.65 and a two-hundred day moving average of $244.07.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly 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 net margin of 39.34% and a return on equity of 20.64%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the business posted $2.53 earnings per share. The company's revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COIN. Bank of America decreased their price objective on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. JMP Securities restated a "market outperform" rating and issued a $400.00 target price on shares of Coinbase Global in a research report on Thursday, May 8th. Cantor Fitzgerald began coverage on Coinbase Global in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price for the company. Finally, Sanford C. Bernstein upgraded Coinbase Global to a "strong-buy" rating in a research report on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coinbase Global currently has an average rating of "Moderate Buy" and a consensus target price of $265.20.

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.