54,146 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 54,146 shares of the cryptocurrency exchange's stock, valued at approximately $13,560,000.

Several other institutional investors and hedge funds have also modified their holdings of COIN. Wellington Management Group LLP boosted its holdings in Coinbase Global by 168.2% during the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange's stock valued at $4,648,000 after acquiring an additional 16,363 shares during the period. McElhenny Sheffield Capital Management LLC bought a new stake in Coinbase Global during the 4th quarter valued at approximately $252,000. Virtu Financial LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at approximately $3,866,000. Savant Capital LLC bought a new position in Coinbase Global in the 4th quarter worth approximately $591,000. Finally, XTX Topco Ltd lifted its holdings in shares of Coinbase Global by 818.2% during the third quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange's stock worth $2,346,000 after buying an additional 11,733 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 7,575 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares in the company, valued at $22,973,200. This represents a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $142,540.74. This trade represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,767 shares of company stock worth $48,326,134 in the last quarter. 23.43% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

COIN has been the topic of a number of research reports. Cantor Fitzgerald initiated coverage on shares of Coinbase Global in a research report on Tuesday. They set an "overweight" rating and a $245.00 target price on the stock. The Goldman Sachs Group started coverage on Coinbase Global in a research note on Thursday, March 20th. They issued a "neutral" rating and a $195.00 price objective on the stock. Piper Sandler boosted their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods raised their price target on Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 18th. Finally, Barclays lowered their target price on Coinbase Global from $328.00 to $169.00 and set an "equal weight" rating for the company in a research note on Monday. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $298.74.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded down $14.51 during midday trading on Thursday, reaching $162.58. 5,328,315 shares of the company were exchanged, compared to its average volume of 9,751,375. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $349.75. The stock has a market cap of $41.27 billion, a P/E ratio of 17.28 and a beta of 3.65. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average price is $214.42 and its 200-day moving average price is $241.91.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal 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.