Mitsubishi UFJ Trust & Banking Corp Trims Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,958 shares of the cryptocurrency exchange’s stock after selling 1,407 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Coinbase Global were worth $21,343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coinbase Global in the 4th quarter worth approximately $27,000. Atala Financial Inc bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $198.15, for a total value of $1,981,500.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $104,226.90. This trade represents a 95.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alesia J. Haas sold 7,575 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $200.00, for a total value of $1,515,000.00. Following the completion of the sale, the chief financial officer now owns 114,866 shares of the company’s stock, valued at $22,973,200. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,609 shares of company stock worth $61,331,908 in the last ninety days. Company insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on COIN shares. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Piper Sandler boosted their target price on shares of Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. JMP Securities raised their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research report on Tuesday, March 18th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $305.00 target price on shares of Coinbase Global in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.72.

Coinbase Global Stock Performance

NASDAQ COIN opened at $188.58 on Friday. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $47.88 billion, a P/E ratio of 19.85 and a beta of 3.66. The stock has a 50-day simple moving average of $241.79 and a two-hundred day simple moving average of $241.51.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.