Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Lifted by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 70.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 362 shares of the cryptocurrency exchange’s stock after acquiring an additional 150 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Coinbase Global were worth $90,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of COIN. McAdam LLC bought a new position in shares of Coinbase Global in the 4th quarter valued at approximately $251,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Coinbase Global in the fourth quarter worth $680,000. Greenleaf Trust boosted its holdings in shares of Coinbase Global by 7.4% during the 4th quarter. Greenleaf Trust now owns 1,525 shares of the cryptocurrency exchange’s stock worth $379,000 after buying an additional 105 shares during the period. DAVENPORT & Co LLC grew its stake in Coinbase Global by 15.2% in the 4th quarter. DAVENPORT & Co LLC now owns 2,892 shares of the cryptocurrency exchange’s stock valued at $718,000 after buying an additional 382 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Coinbase Global in the 4th quarter worth $1,149,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Emilie Choi sold 1,500 shares of Coinbase Global stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total transaction of $447,465.00. Following the transaction, the chief operating officer now owns 177,576 shares in the company, valued at $52,972,696.56. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lawrence J. Brock sold 4,635 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the sale, the insider now owns 18,525 shares in the company, valued at $4,631,250. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,205 shares of company stock valued at $112,487,737. 23.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of several research analyst reports. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Barclays lifted their price target on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. Keefe, Bruyette & Woods dropped their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and a consensus price target of $289.06.

Coinbase Global Trading Down 2.4 %

COIN opened at $284.41 on Tuesday. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The firm has a market cap of $71.20 billion, a PE ratio of 48.53 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 firm’s fifty day moving average is $287.44 and its two-hundred day moving average is $236.16.

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.