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

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COINFree Report) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,049 shares of the cryptocurrency exchange’s stock after buying an additional 6,349 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Coinbase Global were worth $13,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of COIN. TD Asset Management Inc raised its position in shares of Coinbase Global by 8.0% in the 3rd quarter. TD Asset Management Inc now owns 21,321 shares of the cryptocurrency exchange’s stock worth $1,601,000 after acquiring an additional 1,579 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Coinbase Global by 957.5% during the 3rd quarter. Fifth Third Bancorp now owns 12,182 shares of the cryptocurrency exchange’s stock valued at $915,000 after buying an additional 11,030 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Coinbase Global by 4.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 13,032 shares of the cryptocurrency exchange’s stock valued at $978,000 after buying an additional 539 shares in the last quarter. Nwam LLC grew its position in shares of Coinbase Global by 10.9% in the 3rd quarter. Nwam LLC now owns 6,977 shares of the cryptocurrency exchange’s stock worth $524,000 after buying an additional 686 shares during the period. Finally, Wealthfront Advisers LLC increased its stake in shares of Coinbase Global by 34.2% in the 3rd quarter. Wealthfront Advisers LLC now owns 15,755 shares of the cryptocurrency exchange’s stock worth $1,183,000 after acquiring an additional 4,012 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,257 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $18,223,223.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Alesia J. Haas sold 64,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the sale, the chief financial officer now owns 219,490 shares of the company’s stock, valued at approximately $50,142,490.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,257 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now directly owns 66,122 shares in the company, valued at $18,223,223.20. The disclosure for this sale can be found here. Insiders sold a total of 470,563 shares of company stock worth $104,873,137 in the last three months. Company insiders own 33.16% of the company’s stock.

Analyst Ratings Changes

COIN has been the subject of a number of analyst reports. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. JPMorgan Chase & Co. boosted their target price on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Wedbush increased their target price on Coinbase Global from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Keefe, Bruyette & Woods lifted their price target on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Finally, Oppenheimer increased their price objective on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $214.67.

Check Out Our Latest Research Report on COIN

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $207.60 on Friday. The company has a 50 day moving average price of $234.49 and a 200 day moving average price of $175.08. The firm has a market capitalization of $50.98 billion, a P/E ratio of 41.44 and a beta of 3.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. The business had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. The company’s revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the company earned ($2.46) earnings per share. Sell-side analysts expect that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Coinbase Global Profile

(Free Report)

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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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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