Asset Management One Co. Ltd. Purchases 2,352 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Asset Management One Co. Ltd. grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.6% in the third quarter, HoldingsChannel.com reports. The fund owned 68,193 shares of the cryptocurrency exchange’s stock after acquiring 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 quarter.

Several other hedge funds have also recently made changes to their positions in COIN. Geneos Wealth Management Inc. boosted its position in shares of Coinbase Global by 833.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 112 shares of the cryptocurrency exchange’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Crewe Advisors LLC boosted its holdings in shares of Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock worth $27,000 after buying an additional 104 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Coinbase Global during the 2nd quarter worth approximately $29,000. Versant Capital Management Inc increased its stake in shares of Coinbase Global by 75.0% in the 2nd quarter. Versant Capital Management Inc now owns 133 shares of the cryptocurrency exchange’s stock valued at $30,000 after acquiring an additional 57 shares in the last quarter. Finally, Spirit of America Management Corp NY bought a new stake in shares of Coinbase Global in the 2nd quarter valued at $33,000. 68.84% of the stock is owned by institutional investors.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 16,962 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the sale, the insider now directly owns 75,556 shares in the company, valued at $15,637,069.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $206.96, for a total value of $3,510,455.52. Following the completion of the sale, the insider now owns 75,556 shares of the company’s stock, valued at approximately $15,637,069.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $162.24, for a total value of $243,360.00. Following the completion of the sale, the chief operating officer now owns 187,601 shares in the company, valued at $30,436,386.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,187 shares of company stock worth $15,213,544. Insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on COIN shares. Compass Point reduced their price target on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC boosted their price target on shares of Coinbase Global from $260.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $295.00 price objective on shares of Coinbase Global in a report on Tuesday, October 29th. Barclays lifted their price objective on shares of Coinbase Global from $175.00 to $204.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Citigroup upgraded shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their target price for the stock from $260.00 to $345.00 in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $246.28.

Coinbase Global Trading Up 31.1 %

NASDAQ 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. The business’s fifty day moving average is $180.54 and its 200-day moving average is $208.28. 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, Inc. has a one year low of $84.30 and a one year high of $283.48.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The firm’s revenue was up 78.8% compared to the same quarter last year. Equities research analysts predict that Coinbase Global, Inc. will post 4.27 EPS for the current year.

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.