Mirae Asset Global Investments Co. Ltd. Buys 26,275 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 5,904.5% during the fourth quarter, HoldingsChannel reports. The fund owned 26,720 shares of the cryptocurrency exchange’s stock after acquiring an additional 26,275 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Coinbase Global were worth $7,054,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Coinbase Global by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of Coinbase Global during the third quarter valued at $409,919,000. Charles Schwab Investment Management Inc. increased its stake in Coinbase Global by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after buying an additional 52,856 shares during the period. Finally, Ribbit Management Company LLC boosted its position in Coinbase Global by 4.7% in the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after buying an additional 17,650 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 15,228 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total value of $4,271,606.28. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,922,072.67. This represents a 59.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick R. Wilson sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $300.00, for a total value of $12,000,000.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 401,798 shares of company stock worth $119,826,444. 23.43% of the stock is owned by corporate insiders.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $274.49 on Friday. The company has a 50 day moving average price of $285.22 and a 200 day moving average price of $236.89. The firm has a market capitalization of $68.72 billion, a P/E ratio of 46.84 and a beta of 3.61. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 52 week low of $125.81 and a 52 week high of $349.75.

Wall Street Analyst Weigh In

COIN has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Barclays raised their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, Oppenheimer cut their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.06.

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.