Financial Life Planners Purchases New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Financial Life Planners acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, HoldingsChannel reports. The firm acquired 276 shares of the cryptocurrency exchange’s stock, valued at approximately $69,000.

Other hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global during the third quarter valued at about $25,000. ORG Wealth Partners LLC bought a new stake in Coinbase Global in the 3rd quarter worth about $32,000. MassMutual Private Wealth & Trust FSB increased its stake in Coinbase Global by 365.5% in the 4th 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 last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Coinbase Global by 408.0% during the 3rd 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. Finally, V Square Quantitative Management LLC purchased a new position in shares of Coinbase Global in the 3rd quarter worth approximately $55,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of COIN opened at $291.33 on Monday. Coinbase Global, Inc. has a 52-week low of $114.51 and a 52-week high of $349.75. The stock has a market capitalization of $72.93 billion, a price-to-earnings ratio of 49.72 and a beta of 3.61. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day simple moving average is $288.00 and its 200 day simple moving average is $235.80.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 4,635 shares of Coinbase Global stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the transaction, the insider now directly owns 18,525 shares of the company’s stock, valued at approximately $4,631,250. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total transaction of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares in the company, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 376,205 shares of company stock valued at $112,487,737. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America increased their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Coinbase Global in a research note on Wednesday, October 9th. Needham & Company LLC increased their price target on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Canaccord Genuity Group restated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Barclays boosted their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average price target of $289.06.

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.