Asset Management One Co. Ltd. Has $12.15 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Asset Management One Co. Ltd. raised its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,193 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,352 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Coinbase Global were worth $12,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC grew its position in shares of Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock valued at $477,000 after purchasing an additional 1,540 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Coinbase Global during the 2nd quarter worth $2,908,000. Intech Investment Management LLC lifted its holdings in shares of Coinbase Global by 454.3% during the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after buying an additional 33,240 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Coinbase Global by 130.5% in the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after acquiring an additional 5,493 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Coinbase Global by 122.2% in the third quarter. Blue Trust Inc. now owns 7,503 shares of the cryptocurrency exchange’s stock valued at $1,337,000 after acquiring an additional 4,127 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Citigroup raised Coinbase Global from a “neutral” rating to a “buy” rating and increased their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. Finally, Compass Point dropped their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $246.28.

Insider Activity

In related news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the sale, the chief operating officer now owns 175,101 shares of the company’s stock, valued at $35,598,033.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Alesia J. Haas sold 5,250 shares of Coinbase Global stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $195.25, for a total value of $1,025,062.50. Following the transaction, the chief financial officer now directly owns 169,786 shares of the company’s stock, valued at $33,150,716.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $203.30, for a total value of $304,950.00. Following the completion of the sale, the chief operating officer now owns 175,101 shares in the company, valued at $35,598,033.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,187 shares of company stock valued at $15,213,544. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 31.1 %

Shares of COIN opened at $254.31 on Thursday. The stock has a market capitalization of $63.19 billion, a price-to-earnings ratio of 43.40 and a beta of 3.34. Coinbase Global, Inc. has a 52 week low of $84.30 and a 52 week high of $283.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average of $180.54 and a 200-day moving average of $208.28.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company earned ($0.01) EPS. The business’s quarterly revenue was up 78.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

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.