Dai ichi Life Insurance Company Ltd Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Dai ichi Life Insurance Company Ltd purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,650 shares of the cryptocurrency exchange’s stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COIN. Barrett & Company Inc. acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $26,000. AlphaMark Advisors LLC acquired a new position in Coinbase Global during the fourth quarter worth $33,000. Signature Resources Capital Management LLC purchased a new stake in Coinbase Global in the 4th quarter valued at $39,000. Harbor Investment Advisory LLC increased its stake in shares of Coinbase Global by 68.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 247 shares of the cryptocurrency exchange’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. Finally, Coston McIsaac & Partners purchased a new position in shares of Coinbase Global during the 4th quarter worth $52,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now directly owns 29,236 shares in the company, valued at $4,933,575. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Lawrence J. Brock sold 16,456 shares of Coinbase Global stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $223.34, for a total transaction of $3,675,283.04. Following the sale, the insider now directly owns 16,140 shares in the company, valued at approximately $3,604,707.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the completion of the sale, the chief accounting officer now directly owns 29,236 shares of the company’s stock, valued at $4,933,575. The disclosure for this sale can be found here. Over the last quarter, insiders sold 487,019 shares of company stock worth $108,548,420. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Stock Up 8.6 %

Shares of Coinbase Global stock traded up $18.79 on Friday, reaching $237.65. 10,249,246 shares of the company were exchanged, compared to its average volume of 8,954,198. The stock’s 50 day moving average price is $232.51 and its 200-day moving average price is $180.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.02 and a quick ratio of 1.02. Coinbase Global, Inc. has a 1-year low of $46.43 and a 1-year high of $283.48. The company has a market cap of $58.36 billion, a P/E ratio of 47.44 and a beta of 3.46.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. As a group, equities analysts forecast that Coinbase Global, Inc. will post 5.01 EPS for the current year.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a report on Friday, May 3rd. Canaccord Genuity Group lifted their price target on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Raymond James upgraded Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Barclays lifted their target price on Coinbase Global from $179.00 to $204.00 and gave the company an “underweight” rating in a research report on Monday, May 6th. Finally, Sanford C. Bernstein upped their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Coinbase Global has an average rating of “Hold” and an average price target of $214.67.

About Coinbase Global

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.