Mitsubishi UFJ Trust & Banking Corp Purchases 20,214 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Posted by on May 28th, 2023

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN – Get Rating) by 26.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,248 shares of the cryptocurrency exchange’s stock after purchasing an additional 20,214 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Coinbase Global were worth $3,442,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in COIN. Guardian Wealth Advisors LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at about $29,000. Romano Brothers AND Company bought a new stake in shares of Coinbase Global during the 4th quarter valued at about $29,000. Sugarloaf Wealth Management LLC grew its stake in shares of Coinbase Global by 54.2% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 819 shares of the cryptocurrency exchange’s stock valued at $29,000 after purchasing an additional 288 shares during the period. Bessemer Group Inc. bought a new stake in shares of Coinbase Global during the 3rd quarter valued at about $32,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its stake in shares of Coinbase Global by 69.9% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 921 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 379 shares during the period. 46.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 28,026 shares of the firm’s stock in a transaction on Friday, March 17th. The stock was sold at an average price of $75.51, for a total value of $2,116,243.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Brian Armstrong sold 28,026 shares of Coinbase Global stock in a transaction on Friday, March 17th. The stock was sold at an average price of $75.51, for a total transaction of $2,116,243.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lawrence J. Brock sold 14,207 shares of Coinbase Global stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $57.83, for a total value of $821,590.81. Following the sale, the insider now owns 14,757 shares of the company’s stock, valued at $853,397.31. The disclosure for this sale can be found here. Insiders sold a total of 222,100 shares of company stock worth $14,073,197 over the last three months. 36.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Coinbase Global from $40.00 to $43.00 in a research note on Friday, May 5th. Citigroup lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $65.00 in a report on Monday, May 1st. Mizuho reduced their target price on shares of Coinbase Global from $30.00 to $27.00 in a report on Wednesday, May 3rd. Jefferies Financial Group increased their target price on shares of Coinbase Global from $35.00 to $60.00 and gave the stock a “hold” rating in a report on Wednesday, February 22nd. Finally, Piper Sandler reduced their target price on shares of Coinbase Global from $70.00 to $65.00 in a report on Friday, May 5th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.52.

Coinbase Global Stock Up 0.1 %

Shares of COIN opened at $56.92 on Friday. The company has a market cap of $13.35 billion, a PE ratio of -5.57 and a beta of 2.58. The business has a fifty day moving average of $61.64 and a 200 day moving average of $54.95. Coinbase Global, Inc. has a 52-week low of $31.55 and a 52-week high of $116.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.60.

About Coinbase Global

(Get Rating)

Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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