Nomura Asset Management Co. Ltd. Has $16.02 Million Stake in Coinbase Global, Inc. $COIN

Nomura Asset Management Co. Ltd. increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,859 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,374 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Coinbase Global were worth $16,024,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its stake in Coinbase Global by 24.2% in the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 413 shares during the last quarter. Empowered Funds LLC lifted its stake in Coinbase Global by 25.8% in the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after purchasing an additional 1,761 shares during the last quarter. Focus Partners Wealth lifted its stake in Coinbase Global by 9.9% in the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after purchasing an additional 467 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Coinbase Global in the 2nd quarter valued at about $285,000. Finally, Cerity Partners LLC lifted its stake in Coinbase Global by 8.6% in the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after purchasing an additional 1,402 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In related news, CFO Alesia J. Haas sold 10,020 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the transaction, the chief financial officer directly owned 377,201 shares of the company’s stock, valued at approximately $75,440,200. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the transaction, the insider directly owned 84,753 shares in the company, valued at approximately $14,991,110.64. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,546 shares of company stock valued at $5,607,095 over the last ninety days. 16.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. B. Riley Financial cut their target price on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating for the company in a research note on Monday. Bank of America cut their target price on shares of Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. President Capital raised their target price on shares of Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Sanford C. Bernstein cut their target price on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. Finally, Benchmark cut their target price on shares of Coinbase Global from $267.00 to $260.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $250.81.

Coinbase Global News Summary

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase invested in ProShares’ new GENIUS Money Market ETF, a stablecoin reserve-focused fund that could benefit if demand grows for compliant reserve assets under the new GENIUS Act. Coinbase invests in ProShares ETF tailored for stablecoin reserve assets
• Positive Sentiment: Coinbase is expanding its U.S. derivatives offering and leaning into the large global crypto futures market, which could boost trading activity and fee revenue. Coinbase Global to Unlock U.S. Crypto Derivatives Opportunity?
• Positive Sentiment: The company relaunched direct INR deposits and withdrawals in India, reopening access to a major crypto growth market and potentially broadening user adoption. Coinbase launches rupee bank rails in India after FIU nod

Coinbase Global Price Performance

Shares of COIN opened at $173.99 on Wednesday. The firm has a market capitalization of $45.84 billion, a PE ratio of 65.41, a PEG ratio of 6.32 and a beta of 3.32. The company’s 50-day moving average is $188.19 and its 200-day moving average is $210.58. Coinbase Global, Inc. has a fifty-two week low of $139.36 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. Coinbase Global’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. Equities analysts forecast that Coinbase Global, Inc. will post 1.77 EPS for the current year.

Coinbase Global Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.