Asset Management One Co. Ltd. Buys 10,788 Shares of Coinbase Global, Inc. $COIN

Asset Management One Co. Ltd. increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 14.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 84,431 shares of the cryptocurrency exchange’s stock after acquiring an additional 10,788 shares during the period. Asset Management One Co. Ltd.’s holdings in Coinbase Global were worth $29,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of COIN. Bessemer Group Inc. lifted its position in shares of Coinbase Global by 297.4% during the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange’s stock worth $26,000 after buying an additional 113 shares during the period. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global during the 1st quarter worth approximately $30,000. Cullen Frost Bankers Inc. bought a new position in shares of Coinbase Global during the 2nd quarter worth approximately $30,000. S Bank Fund Management Ltd bought a new position in shares of Coinbase Global during the 1st quarter worth approximately $31,000. Finally, SouthState Corp lifted its position in shares of Coinbase Global by 128.4% during the 1st quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock worth $32,000 after buying an additional 104 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $361.32, for a total value of $9,033,000.00. Following the transaction, the chief executive officer owned 526 shares of the company’s stock, valued at approximately $190,054.32. This represents a 97.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $345.88, for a total value of $3,458,800.00. Following the completion of the transaction, the insider directly owned 82,328 shares in the company, valued at $28,475,608.64. The trade was a 10.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,657 shares of company stock worth $67,479,576. 17.65% of the stock is owned by insiders.

Coinbase Global Stock Up 9.8%

NASDAQ COIN opened at $354.46 on Friday. The stock has a fifty day moving average of $329.63 and a 200-day moving average of $298.57. The stock has a market capitalization of $91.07 billion, a P/E ratio of 34.28 and a beta of 3.68. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. 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) last released its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.14 earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on COIN shares. Barclays cut their target price on Coinbase Global from $365.00 to $361.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Piper Sandler reaffirmed a “neutral” rating and set a $350.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. Rothschild Redb raised Coinbase Global from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Compass Point raised their price target on Coinbase Global from $248.00 to $277.00 and gave the company a “sell” rating in a report on Monday. Finally, BTIG Research assumed coverage on Coinbase Global in a report on Wednesday, October 1st. They set a “buy” rating and a $410.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $384.12.

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.