Meiji Yasuda Asset Management Co Ltd. Purchases 160 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,570 shares of the cryptocurrency exchange’s stock after purchasing an additional 160 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Coinbase Global were worth $571,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. grew its stake in shares of Coinbase Global by 162.9% during the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after buying an additional 114 shares during the last quarter. Intech Investment Management LLC increased its stake in Coinbase Global by 454.3% in the first quarter. Intech Investment Management LLC now owns 40,556 shares of the cryptocurrency exchange’s stock worth $10,752,000 after purchasing an additional 33,240 shares during the period. Paragon Capital Management Ltd lifted its position in shares of Coinbase Global by 58.6% during the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after purchasing an additional 85,573 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Coinbase Global by 130.5% during the second quarter. QRG Capital Management Inc. now owns 9,703 shares of the cryptocurrency exchange’s stock valued at $2,156,000 after purchasing an additional 5,493 shares during the period. Finally, Edgestream Partners L.P. grew its holdings in shares of Coinbase Global by 93.5% in the first quarter. Edgestream Partners L.P. now owns 14,793 shares of the cryptocurrency exchange’s stock worth $3,922,000 after purchasing an additional 7,148 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on COIN shares. The Goldman Sachs Group lowered their price objective on shares of Coinbase Global from $255.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Coinbase Global in a research note on Monday, August 5th. Barclays raised Coinbase Global from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $206.00 to $169.00 in a research report on Friday, September 6th. Compass Point dropped their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Bank of America decreased their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $246.06.

Insider Transactions at Coinbase Global

In other news, CFO Alesia J. Haas sold 4,500 shares of the company’s 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 transaction, the chief financial officer now owns 182,903 shares in the company, valued at $41,901,248.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Alesia J. Haas sold 4,500 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 182,903 shares of the company’s stock, valued at $41,901,248.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $220.31, for a total value of $5,083,653.25. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $115,883.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,562 shares of company stock worth $23,115,399. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN opened at $170.09 on Friday. The company has a 50 day moving average of $199.80 and a two-hundred day moving average of $222.00. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. Coinbase Global, Inc. has a twelve month low of $69.63 and a twelve month high of $283.48. The company has a market cap of $41.77 billion, a price-to-earnings ratio of 33.95 and a beta of 3.36.

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

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.