Tokio Marine Asset Management Co. Ltd. Takes $1.15 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Tokio Marine Asset Management Co. Ltd. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,629 shares of the cryptocurrency exchange’s stock, valued at approximately $1,149,000.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after buying an additional 314,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Coinbase Global by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC acquired a new stake in Coinbase Global during the third quarter worth about $409,919,000. Charles Schwab Investment Management Inc. increased its position in Coinbase Global by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after purchasing an additional 52,856 shares during the last quarter. Finally, Ribbit Management Company LLC increased its position in Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after purchasing an additional 17,650 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on COIN shares. Monness Crespi & Hardt raised their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective for the company. Needham & Company LLC increased their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Finally, Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $250.00 to $290.00 in a research note on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Insider Activity at Coinbase Global

In other Coinbase Global news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total transaction of $447,465.00. Following the sale, the chief operating officer now directly owns 177,576 shares of the company’s stock, valued at $52,972,696.56. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 376,205 shares of company stock valued at $112,487,737. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $284.41 on Tuesday. The firm has a market capitalization of $71.20 billion, a PE ratio of 48.53 and a beta of 3.61. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The firm’s 50-day simple moving average is $287.44 and its 200 day simple moving average is $236.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global 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.