FUKOKU MUTUAL LIFE INSURANCE Co Takes $268,000 Position in Coinbase Global, Inc. $COIN

FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 766 shares of the cryptocurrency exchange’s stock, valued at approximately $268,000.

A number of other institutional investors have also recently added to or reduced their stakes in COIN. Bessemer Group Inc. increased its stake in Coinbase Global by 672.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock worth $408,000 after buying an additional 1,015 shares in the last quarter. SP Asset Management LLC acquired a new stake in shares of Coinbase Global in the second quarter worth approximately $360,000. Kera Capital Partners Inc. increased its position in shares of Coinbase Global by 3.0% during the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after purchasing an additional 1,085 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Coinbase Global by 102.6% during the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after purchasing an additional 5,402 shares in the last quarter. Finally, New York Life Investment Management LLC raised its stake in Coinbase Global by 890.8% in the 2nd quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock valued at $11,033,000 after purchasing an additional 28,302 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COIN shares. Williams Trading set a $405.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. Bank of America dropped their price objective on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Wall Street Zen raised shares of Coinbase Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Compass Point dropped their price target on Coinbase Global from $277.00 to $266.00 in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coinbase Global in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $399.94.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 277,074 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $309.92, for a total transaction of $85,870,774.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $271.87, for a total value of $10,874,800.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 755,171 shares of company stock valued at $234,838,249 in the last quarter. Insiders own 17.65% of the company’s stock.

Coinbase Global Stock Down 7.4%

Shares of NASDAQ COIN opened at $238.16 on Friday. The company has a market capitalization of $64.22 billion, a P/E ratio of 20.60 and a beta of 3.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The company has a 50 day simple moving average of $328.69 and a 200-day simple moving average of $315.18. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm’s quarterly revenue was up 55.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, equities research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

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.