Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,502 shares of the cryptocurrency exchange’s stock after buying an additional 16,355 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.16% of Coinbase Global worth $26,939,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in COIN. Ancora Advisors LLC lifted its position in shares of Coinbase Global by 144.0% during the fourth quarter. Ancora Advisors LLC now owns 737 shares of the cryptocurrency exchange’s stock valued at $26,000 after buying an additional 435 shares during the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Coinbase Global during the first quarter worth $27,000. Bessemer Group Inc. lifted its holdings in shares of Coinbase Global by 100.0% during the 4th quarter. Bessemer Group Inc. now owns 1,000 shares of the cryptocurrency exchange’s stock valued at $36,000 after purchasing an additional 500 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Coinbase Global during the 4th quarter valued at about $36,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Coinbase Global by 231.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 597 shares of the cryptocurrency exchange’s stock valued at $40,000 after buying an additional 417 shares during the last quarter. 45.96% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently commented on COIN. Wedbush reiterated an “outperform” rating and set a $110.00 price objective on shares of Coinbase Global in a research note on Tuesday, November 7th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Coinbase Global in a report on Thursday, August 17th. Canaccord Genuity Group raised their price target on shares of Coinbase Global from $70.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. The Goldman Sachs Group raised their target price on shares of Coinbase Global from $45.00 to $51.00 and gave the stock a “sell” rating in a report on Friday, August 4th. Finally, HC Wainwright upped their price target on shares of Coinbase Global from $77.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 4th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average price target of $75.64.
Coinbase Global Trading Up 7.1 %
Shares of COIN stock opened at $106.10 on Tuesday. The stock’s fifty day moving average is $80.44 and its two-hundred day moving average is $76.38. The firm has a market capitalization of $25.38 billion, a P/E ratio of -32.85 and a beta of 2.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.05 and a current ratio of 1.05. Coinbase Global, Inc. has a fifty-two week low of $31.55 and a fifty-two week high of $114.43.
Insider Activity at Coinbase Global
In other news, Director Gokul Rajaram sold 1,145 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $74.38, for a total transaction of $85,165.10. Following the transaction, the director now directly owns 11,703 shares in the company, valued at approximately $870,469.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Gokul Rajaram sold 1,145 shares of the company’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $74.38, for a total value of $85,165.10. Following the transaction, the director now owns 11,703 shares of the company’s stock, valued at approximately $870,469.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer N. Jones sold 1,704 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $77.76, for a total value of $132,503.04. Following the sale, the chief accounting officer now directly owns 27,417 shares of the company’s stock, valued at $2,131,945.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,257 shares of company stock valued at $4,607,832. Corporate insiders own 33.16% of the company’s stock.
Coinbase Global Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. It offers the primary financial account in the cryptoeconomy for consumers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable developers to build crypto-based applications and securely accept crypto assets as payment.
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