Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 376,502 shares of the cryptocurrency exchange’s stock after purchasing an additional 16,355 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Coinbase Global were worth $26,939,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of COIN. Russell Investments Group Ltd. lifted its position in shares of Coinbase Global by 1.9% during the second quarter. Russell Investments Group Ltd. now owns 10,058 shares of the cryptocurrency exchange’s stock worth $722,000 after purchasing an additional 189 shares in the last quarter. Nwam LLC purchased a new position in Coinbase Global in the 2nd quarter valued at about $450,000. Cetera Advisors LLC grew its stake in shares of Coinbase Global by 6.2% during the second quarter. Cetera Advisors LLC now owns 9,928 shares of the cryptocurrency exchange’s stock valued at $710,000 after acquiring an additional 578 shares in the last quarter. Berger Financial Group Inc purchased a new stake in shares of Coinbase Global during the second quarter worth about $264,000. Finally, Cetera Advisor Networks LLC lifted its stake in shares of Coinbase Global by 5.6% in the second quarter. Cetera Advisor Networks LLC now owns 8,185 shares of the cryptocurrency exchange’s stock worth $586,000 after acquiring an additional 433 shares in the last quarter. Institutional investors and hedge funds own 45.96% of the company’s stock.

Insider Activity

In related news, CAO Jennifer N. Jones sold 1,704 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $77.76, for a total transaction of $132,503.04. Following the completion of the transaction, the chief accounting officer now owns 27,417 shares of the company’s stock, valued at $2,131,945.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Jennifer N. Jones sold 1,704 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $77.76, for a total transaction of $132,503.04. Following the completion of the sale, the chief accounting officer now owns 27,417 shares in the company, valued at approximately $2,131,945.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Armstrong sold 18,500 shares of Coinbase Global stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $96.38, for a total value of $1,783,030.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,257 shares of company stock worth $4,607,832. 33.16% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Canaccord Genuity Group lifted their price objective on Coinbase Global from $70.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Coinbase Global from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $120.00 price objective on shares of Coinbase Global in a research note on Thursday, August 17th. Barclays dropped their target price on shares of Coinbase Global from $70.00 to $68.00 and set an “underweight” rating for the company in a research report on Tuesday, October 10th. Finally, Mizuho increased their price target on shares of Coinbase Global from $27.00 to $31.00 and gave the stock an “underperform” rating in a research report on Friday, November 10th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.64.

Coinbase Global Trading Up 7.1 %

Coinbase Global stock opened at $106.10 on Tuesday. Coinbase Global, Inc. has a 12-month low of $31.55 and a 12-month high of $114.43. The stock has a market capitalization of $25.38 billion, a PE ratio of -32.85 and a beta of 2.65. The firm has a 50 day simple moving average of $80.44 and a 200-day simple moving average of $76.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.05.

Coinbase Global Profile

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.