Meiji Yasuda Asset Management Co Ltd. Acquires 60 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,630 shares of the cryptocurrency exchange’s stock after acquiring an additional 60 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Coinbase Global were worth $653,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in COIN. Vanguard Group Inc. boosted its stake in shares of Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after purchasing an additional 128,802 shares in the last quarter. Geode Capital Management LLC boosted its position in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Clear Street Derivatives LLC purchased a new position in shares of Coinbase Global during the 3rd quarter worth approximately $409,919,000. Charles Schwab Investment Management Inc. raised its position in shares of Coinbase Global by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock worth $232,168,000 after acquiring an additional 15,954 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after acquiring an additional 417,036 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 2.8 %

Coinbase Global stock opened at $188.58 on Friday. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The stock has a fifty day moving average of $241.79 and a 200 day moving average of $241.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The stock has a market cap of $47.88 billion, a PE ratio of 19.85 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the transaction, the insider now directly owns 69,407 shares in the company, valued at $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,609 shares of company stock worth $61,331,908. 23.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COIN shares. Barclays upped their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. JMP Securities increased their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. HC Wainwright reissued a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research note on Thursday, February 13th. Finally, Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong 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 $314.72.

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.