Asset Management One Co. Ltd. Has $18.55 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Asset Management One Co. Ltd. boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,825 shares of the cryptocurrency exchange’s stock after buying an additional 1,632 shares during the period. Asset Management One Co. Ltd.’s holdings in Coinbase Global were worth $18,553,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Clear Street Derivatives LLC purchased a new position in Coinbase Global during the 3rd quarter worth $409,919,000. Geode Capital Management LLC lifted its holdings in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after acquiring an additional 314,388 shares during the period. Azora Capital LP grew its stake in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the period. Holocene Advisors LP purchased a new stake in shares of Coinbase Global during the 3rd quarter valued at $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Coinbase Global during the 3rd quarter worth $29,756,000. 68.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JMP Securities raised their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research report on Thursday. Piper Sandler lifted their price target on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday. Barclays raised their target price on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Canaccord Genuity Group upped their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $301.17.

Coinbase Global Trading Down 8.0 %

Shares of Coinbase Global stock opened at $274.31 on Friday. The company has a 50 day simple moving average of $280.97 and a two-hundred day simple moving average of $238.26. The firm has a market cap of $68.67 billion, a PE ratio of 46.81 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. Analysts expect that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 386,798 shares of company stock worth $114,707,944. 23.43% of the stock is currently owned by insiders.

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.