2,055 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Purchased by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 2,055 shares of the cryptocurrency exchange’s stock, valued at approximately $357,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COIN. Pinebridge Investments L.P. raised its position in Coinbase Global by 130.5% during the fourth quarter. Pinebridge Investments L.P. now owns 18,280 shares of the cryptocurrency exchange’s stock valued at $3,179,000 after acquiring an additional 10,350 shares in the last quarter. Cibc World Markets Corp purchased a new position in Coinbase Global during the fourth quarter valued at approximately $828,000. Public Employees Retirement Association of Colorado raised its position in Coinbase Global by 308.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 17,644 shares of the cryptocurrency exchange’s stock valued at $3,069,000 after acquiring an additional 13,329 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Coinbase Global by 672.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 23,986 shares of the cryptocurrency exchange’s stock valued at $4,172,000 after acquiring an additional 20,881 shares in the last quarter. Finally, Blueshift Asset Management LLC purchased a new position in Coinbase Global during the fourth quarter valued at approximately $4,155,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Down 5.0 %

Shares of COIN traded down $12.92 during mid-day trading on Friday, reaching $244.16. The company’s stock had a trading volume of 9,315,341 shares, compared to its average volume of 8,762,853. Coinbase Global, Inc. has a 12-month low of $50.10 and a 12-month high of $283.48. The stock has a market cap of $59.96 billion, a PE ratio of 48.73 and a beta of 3.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50 day moving average is $229.12 and its 200 day moving average is $190.27.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.61. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.26 billion. Coinbase Global had a return on equity of 9.42% and a net margin of 33.98%. Equities analysts anticipate that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wedbush boosted their price objective on Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Bank of America raised Coinbase Global from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $110.00 to $217.00 in a research note on Friday, May 17th. Mizuho upped their price target on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $214.67.

Get Our Latest Stock Analysis on COIN

Insider Activity at Coinbase Global

In related news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $245.00, for a total value of $367,500.00. Following the completion of the sale, the chief operating officer now directly owns 226,051 shares of the company’s stock, valued at approximately $55,382,495. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of the 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 sale, the insider now directly owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $245.00, for a total value of $367,500.00. Following the sale, the chief operating officer now directly owns 226,051 shares of the company’s stock, valued at $55,382,495. The disclosure for this sale can be found here. Insiders sold a total of 400,433 shares of company stock valued at $91,455,327 in the last three months. 23.43% of the stock is currently owned by company insiders.

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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Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COINFree Report).

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

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