Dai ichi Life Insurance Company Ltd Has $1.18 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Dai ichi Life Insurance Company Ltd increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 307.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,301 shares of the cryptocurrency exchange’s stock after acquiring an additional 4,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Coinbase Global were worth $1,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock worth $4,482,190,000 after acquiring an additional 2,624,989 shares during the last quarter. Cowen AND Company LLC grew its position in Coinbase Global by 1.5% in the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after purchasing an additional 22,071 shares in the last quarter. Norges Bank bought a new stake in Coinbase Global in the 4th quarter worth about $202,936,000. Canada Pension Plan Investment Board grew its position in Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after purchasing an additional 486,512 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $161.50 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The firm’s fifty day moving average is $203.02 and its 200 day moving average is $223.11. The firm has a market cap of $39.66 billion, a P/E ratio of 32.24 and a beta of 3.36.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.40 billion. Coinbase Global had a return on equity of 13.89% and a net margin of 31.46%. Coinbase Global’s revenue was up 104.8% on a year-over-year basis. During the same period last year, the business earned ($0.42) EPS. Research analysts predict that Coinbase Global, Inc. will post 3.96 earnings per share for the current year.

Analysts Set New Price Targets

COIN has been the subject of a number of recent analyst reports. Citigroup raised shares of Coinbase Global from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $260.00 to $345.00 in a research report on Tuesday, July 23rd. Barclays raised shares of Coinbase Global from an “underweight” rating to an “equal weight” rating and cut their price objective for the stock from $206.00 to $169.00 in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a report on Monday, August 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Friday, August 2nd. Finally, Bank of America lowered their target price on shares of Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $246.06.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 4,500 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $229.09, for a total value of $1,030,905.00. Following the sale, the chief financial officer now owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Alesia J. Haas sold 4,500 shares of Coinbase Global stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $229.09, for a total transaction of $1,030,905.00. Following the completion of the transaction, the chief financial officer now directly owns 182,903 shares of the company’s stock, valued at approximately $41,901,248.27. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Emilie Choi sold 8,000 shares of Coinbase Global stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $176.09, for a total transaction of $1,408,720.00. Following the transaction, the chief operating officer now directly owns 189,101 shares of the company’s stock, valued at $33,298,795.09. The disclosure for this sale can be found here. Insiders have sold a total of 110,062 shares of company stock valued at $22,872,039 in the last quarter. Insiders own 23.43% 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.