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

Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,630 shares of the cryptocurrency exchange’s stock after purchasing an additional 60 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Coinbase Global were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in COIN. Cerity Partners LLC grew its holdings in Coinbase Global by 11.0% during the 3rd quarter. Cerity Partners LLC now owns 14,106 shares of the cryptocurrency exchange’s stock valued at $2,513,000 after buying an additional 1,393 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Coinbase Global by 12.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 14,464 shares of the cryptocurrency exchange’s stock valued at $2,577,000 after acquiring an additional 1,600 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 204 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Coinbase Global by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock worth $1,854,000 after purchasing an additional 186 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in Coinbase Global by 1.6% during the third quarter. D.A. Davidson & CO. now owns 5,894 shares of the cryptocurrency exchange’s stock valued at $1,050,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 2.8 %

Shares of NASDAQ COIN opened at $188.58 on Friday. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The firm has a market capitalization of $47.88 billion, a price-to-earnings ratio of 19.85 and a beta of 3.66. The stock has a 50 day moving average price of $241.79 and a 200 day moving average price 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.

Coinbase Global (NASDAQ:COIN) last issued its 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 return on equity of 20.64% and a net margin of 39.34%. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JMP Securities boosted their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. The Goldman Sachs Group began coverage on Coinbase Global in a research note on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective on the stock. Barclays raised their price objective on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Coinbase Global in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and an average price target of $314.72.

Insiders Place Their Bets

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 22,842 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $281.94, for a total transaction of $6,440,073.48. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at $2,936,968.98. This represents a 68.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Armstrong sold 10,000 shares of Coinbase Global stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $198.15, for a total value of $1,981,500.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $104,226.90. This represents a 95.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,609 shares of company stock worth $61,331,908 in the last three months. 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.