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

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,726 shares of the cryptocurrency exchange’s stock after purchasing an additional 81 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Coinbase Global were worth $2,561,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Arkadios Wealth Advisors increased its stake in shares of Coinbase Global by 2.6% in the 4th quarter. Arkadios Wealth Advisors now owns 3,395 shares of the cryptocurrency exchange’s stock valued at $590,000 after acquiring an additional 86 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Coinbase Global by 2.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 3,849 shares of the cryptocurrency exchange’s stock valued at $669,000 after acquiring an additional 90 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Coinbase Global by 10.0% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after acquiring an additional 125 shares in the last quarter. Finally, Windle Wealth LLC increased its stake in shares of Coinbase Global by 2.5% in the 3rd quarter. Windle Wealth LLC now owns 5,236 shares of the cryptocurrency exchange’s stock valued at $393,000 after acquiring an additional 126 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $236.43 on Wednesday. The company’s 50-day moving average is $228.18 and its 200 day moving average is $158.91. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $57.28 billion, a P/E ratio of 875.67 and a beta of 3.41. Coinbase Global, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The business had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the previous year, the business posted ($2.46) EPS. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities research analysts forecast that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on COIN shares. Barclays lifted their price target on shares of Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research report on Monday, April 8th. Sanford C. Bernstein lifted their price target on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a research report on Thursday, March 28th. Mizuho lifted their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research report on Friday, April 12th. Finally, The Goldman Sachs Group raised shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $165.43.

Insider Activity at Coinbase Global

In related news, COO Emilie Choi sold 700 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $130.29, for a total value of $91,203.00. Following the sale, the chief operating officer now directly owns 225,142 shares in the company, valued at approximately $29,333,751.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Emilie Choi sold 700 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $130.29, for a total transaction of $91,203.00. Following the sale, the chief operating officer now directly owns 225,142 shares in the company, valued at $29,333,751.18. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $213.99, for a total value of $3,505,156.20. Following the sale, the director now owns 4,662 shares in the company, valued at $997,621.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 607,358 shares of company stock worth $106,945,156. Company insiders own 33.16% of the company’s stock.

Coinbase Global 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.