Mirae Asset Global Investments Co. Ltd. Increases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Mirae Asset Global Investments Co. Ltd. grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 5,904.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,720 shares of the cryptocurrency exchange’s stock after buying an additional 26,275 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Coinbase Global were worth $7,054,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Banco Santander S.A. lifted its position in Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after acquiring an additional 16,737 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Coinbase Global by 135.1% during 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 in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global in the 3rd quarter worth about $29,756,000. Lindbrook Capital LLC lifted its stake in Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after acquiring an additional 6,963 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after acquiring an additional 16,363 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 1.5 %

Shares of COIN opened at $274.49 on Friday. Coinbase Global, Inc. has a 1 year low of $125.81 and a 1 year high of $349.75. The company has a 50 day simple moving average of $285.22 and a two-hundred day simple moving average of $236.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $68.72 billion, a P/E ratio of 46.84 and a beta of 3.61.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now owns 144,470 shares in the company, valued at approximately $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 401,798 shares of company stock worth $119,826,444 in the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COIN. Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $250.00 to $290.00 in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their price target on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Barclays upped their price objective on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. The Goldman Sachs Group dropped their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Needham & Company LLC dropped their price objective on shares of Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a report on Friday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.06.

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.