Coinbase Global, Inc. (NASDAQ:COIN) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,348 shares of the cryptocurrency exchange’s stock after buying an additional 7,715 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.06% of Coinbase Global worth $41,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Korea Investment CORP increased its stake in shares of Coinbase Global by 109.0% during the 4th quarter. Korea Investment CORP now owns 108,350 shares of the cryptocurrency exchange’s stock worth $26,903,000 after purchasing an additional 56,500 shares in the last quarter. Cottage Street Advisors LLC acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $875,000. Tyler Stone Wealth Management purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $206,000. Financial Engines Advisors L.L.C. acquired a new stake in Coinbase Global during the fourth quarter worth approximately $213,000. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in Coinbase Global by 2.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange’s stock worth $653,000 after acquiring an additional 60 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Mizuho decreased their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a report on Tuesday, March 11th. Needham & Company LLC restated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. JMP Securities upped 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 report on Friday, February 14th. Sanford C. Bernstein upgraded shares of Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, HC Wainwright restated a “buy” rating and set a $350.00 price objective on shares of Coinbase Global in a report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.72.

Coinbase Global Stock Down 7.8 %

Shares of NASDAQ COIN opened at $173.93 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The stock’s 50-day simple moving average is $239.36 and its 200-day simple moving average is $242.23. The firm has a market cap of $44.16 billion, a price-to-earnings ratio of 18.31 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global 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 completion of the transaction, the insider now directly owns 69,407 shares in the company, valued at approximately $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 accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were 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 in the company, valued at $137,322.82. The trade was a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,609 shares of company stock valued at $61,331,908 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

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.