Asahi Life Asset Management CO. LTD. Invests $357,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Asahi Life Asset Management CO. LTD. bought a new position in Coinbase Global, Inc. (NASDAQ:COINFree Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,055 shares of the cryptocurrency exchange’s stock, valued at approximately $357,000.

Other institutional investors have also recently made changes to their positions in the company. Pinebridge Investments L.P. grew its position in Coinbase Global by 130.5% during the fourth quarter. Pinebridge Investments L.P. now owns 18,280 shares of the cryptocurrency exchange’s stock valued at $3,179,000 after buying an additional 10,350 shares during the period. Cibc World Markets Corp purchased a new stake in Coinbase Global during the fourth quarter valued at about $828,000. Public Employees Retirement Association of Colorado lifted its holdings in Coinbase Global by 308.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 17,644 shares of the cryptocurrency exchange’s stock valued at $3,069,000 after purchasing an additional 13,329 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Coinbase Global by 672.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 23,986 shares of the cryptocurrency exchange’s stock valued at $4,172,000 after purchasing an additional 20,881 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in Coinbase Global during the fourth quarter valued at about $4,155,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 5.0 %

NASDAQ:COIN traded down $12.92 during trading hours on Friday, hitting $244.16. The company had a trading volume of 9,315,341 shares, compared to its average volume of 8,762,853. The company has a market capitalization of $59.96 billion, a PE ratio of 48.73 and a beta of 3.44. The stock has a 50-day moving average price of $229.12 and a 200 day moving average price of $190.27. Coinbase Global, Inc. has a 52 week low of $50.10 and a 52 week high of $283.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02.

Coinbase Global (NASDAQ:COINGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.61. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, equities research analysts predict that Coinbase Global, Inc. will post 5.01 EPS for the current fiscal year.

Analysts Set New Price Targets

COIN has been the topic of several recent research reports. HC Wainwright upped their price objective on shares of Coinbase Global from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, April 29th. Keefe, Bruyette & Woods raised their target price on shares of Coinbase Global from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Barclays raised their target price on shares of Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research note on Monday, May 6th. Oppenheimer raised their target price on shares of Coinbase Global from $276.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Sanford C. Bernstein raised their target price on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $214.67.

Read Our Latest Analysis on Coinbase Global

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,257 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $275.60, for a total transaction of $2,826,829.20. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Paul Grewal sold 10,257 shares of Coinbase Global stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $275.60, for a total value of $2,826,829.20. Following the completion of the transaction, the insider now owns 66,122 shares of the company’s stock, valued at approximately $18,223,223.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 15,580 shares of Coinbase Global stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $239.28, for a total value of $3,727,982.40. Following the completion of the transaction, the chief accounting officer now directly owns 2,212 shares of the company’s stock, valued at approximately $529,287.36. The disclosure for this sale can be found here. Insiders have sold a total of 400,433 shares of company stock worth $91,455,327 over the last quarter. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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