Mitsubishi UFJ Trust & Banking Corp Sells 3,263 Shares of Coinbase Global, Inc. $COIN

Mitsubishi UFJ Trust & Banking Corp reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 3.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,249 shares of the cryptocurrency exchange’s stock after selling 3,263 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Coinbase Global were worth $30,229,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COIN. McClarren Financial Advisors Inc. acquired a new position in Coinbase Global during the 1st quarter valued at about $30,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Coinbase Global during the second quarter worth about $30,000. S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global during the first quarter valued at about $31,000. SouthState Corp increased its holdings in shares of Coinbase Global by 128.4% during the first quarter. SouthState Corp now owns 185 shares of the cryptocurrency exchange’s stock valued at $32,000 after acquiring an additional 104 shares in the last quarter. Finally, City State Bank purchased a new position in shares of Coinbase Global in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on COIN shares. Keefe, Bruyette & Woods dropped their target price on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a research report on Monday, August 4th. UBS Group set a $404.00 price objective on shares of Coinbase Global in a report on Friday, October 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $400.00 target price on shares of Coinbase Global in a research report on Friday, August 1st. Compass Point lowered their price target on Coinbase Global from $277.00 to $266.00 in a research report on Friday, October 31st. Finally, Citigroup boosted their price target on Coinbase Global from $270.00 to $505.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $399.94.

Coinbase Global Stock Down 6.9%

Shares of COIN stock opened at $283.14 on Friday. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The stock has a market cap of $76.35 billion, a P/E ratio of 24.49 and a beta of 3.67. The stock has a 50 day moving average of $333.77 and a 200 day moving average of $313.21. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business’s revenue was up 55.1% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 4,400 shares of Coinbase Global stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $344.41, for a total value of $1,515,404.00. Following the completion of the transaction, the chief financial officer owned 84,820 shares of the company’s stock, valued at approximately $29,212,856.20. The trade was a 4.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 55,688 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $321.81, for a total transaction of $17,920,955.28. The disclosure for this sale is available in the SEC filing. Insiders have sold 643,346 shares of company stock valued at $203,470,475 in the last quarter. 17.65% of the stock is currently owned by insiders.

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.