Sumitomo Mitsui DS Asset Management Company Ltd Purchases 81 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,726 shares of the cryptocurrency exchange’s stock after purchasing an additional 81 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Coinbase Global were worth $2,561,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of COIN. Morgan Stanley increased its stake in Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after purchasing an additional 511,397 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Coinbase Global by 142.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 733,180 shares of the cryptocurrency exchange’s stock valued at $55,047,000 after purchasing an additional 430,546 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Coinbase Global in the fourth quarter valued at approximately $34,422,000. Vanguard Group Inc. boosted its holdings in shares of Coinbase Global by 1.3% in the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after buying an additional 176,525 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Coinbase Global by 41.5% in the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after buying an additional 118,670 shares during the period. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on COIN. Wedbush upped their price target on shares of Coinbase Global from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Citigroup upped their price target on shares of Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a report on Friday, January 19th. Piper Sandler upped their price target on shares of Coinbase Global from $225.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Sanford C. Bernstein upped their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Finally, HC Wainwright upped their price target on shares of Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a report on Friday, February 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $165.43.

Insider Activity

In other news, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the transaction, the chief accounting officer now directly owns 29,236 shares of the company’s stock, valued at $4,933,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Emilie Choi sold 700 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $130.29, for a total value of $91,203.00. Following the transaction, the chief operating officer now directly owns 225,142 shares of the company’s stock, valued at $29,333,751.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,236 shares in the company, valued at $4,933,575. The disclosure for this sale can be found here. Insiders have sold 607,358 shares of company stock valued at $106,945,156 over the last ninety days. 33.16% of the stock is currently owned by company insiders.

Coinbase Global Stock Performance

NASDAQ COIN opened at $236.43 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The firm’s fifty day moving average price is $228.18 and its two-hundred day moving average price is $158.91. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a market capitalization of $57.28 billion, a P/E ratio of 875.67 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million for the quarter, compared to analyst estimates of $826.10 million. During the same period in the prior year, the firm posted ($2.46) earnings per share. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, research analysts anticipate that Coinbase Global, Inc. will post 2.43 EPS for the current 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.