4,685 Shares in Coinbase Global, Inc. $COIN Purchased by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,685 shares of the cryptocurrency exchange’s stock, valued at approximately $1,642,000.

A number of other institutional investors also recently bought and sold shares of COIN. Vanguard Group Inc. increased its stake in shares of Coinbase Global by 25.5% in the second quarter. Vanguard Group Inc. now owns 24,208,863 shares of the cryptocurrency exchange’s stock worth $8,484,964,000 after acquiring an additional 4,914,407 shares during the period. Geode Capital Management LLC lifted its position in Coinbase Global by 46.1% during the second quarter. Geode Capital Management LLC now owns 5,559,513 shares of the cryptocurrency exchange’s stock valued at $1,940,805,000 after purchasing an additional 1,755,146 shares during the period. ARK Investment Management LLC boosted its holdings in Coinbase Global by 1.1% in the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock valued at $528,592,000 after purchasing an additional 34,462 shares during the last quarter. Groupama Asset Managment grew its position in Coinbase Global by 100.0% during the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock worth $516,690,000 after purchasing an additional 1,500,000 shares during the period. Finally, Amundi raised its stake in shares of Coinbase Global by 44.1% during the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COIN has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Coinbase Global in a research report on Friday, October 31st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $384.00 price objective on shares of Coinbase Global in a report on Wednesday, October 29th. Cantor Fitzgerald lowered their target price on shares of Coinbase Global from $500.00 to $459.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. UBS Group set a $404.00 price target on Coinbase Global in a research note on Friday, October 24th. Finally, Keefe, Bruyette & Woods lowered their price target on Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $398.08.

Insider Buying and Selling at Coinbase Global

In other news, CEO Brian Armstrong sold 40,000 shares of Coinbase Global stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $271.87, for a total transaction of $10,874,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Emilie Choi sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total value of $31,088,000.00. Following the completion of the transaction, the chief operating officer owned 187,802 shares of the company’s stock, valued at $58,383,885.76. The trade was a 34.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 755,171 shares of company stock worth $234,838,249 in the last ninety days. 17.65% of the stock is owned by insiders.

Coinbase Global Stock Performance

COIN opened at $240.41 on Friday. The firm has a market capitalization of $64.83 billion, a PE ratio of 20.80 and a beta of 3.67. The firm’s 50-day moving average price is $327.03 and its 200 day moving average price is $316.29. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating the consensus estimate of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 55.1% on a year-over-year basis. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal 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.