Sovran Advisors LLC Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Sovran Advisors LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,274 shares of the cryptocurrency exchange’s stock, valued at approximately $325,000.

A number of other large investors have also recently bought and sold shares of COIN. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global during the fourth quarter valued at $27,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global in the third quarter valued at $32,000. MassMutual Private Wealth & Trust FSB grew its position in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake 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 valued at $45,000 after buying an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Up 3.0 %

NASDAQ COIN opened at $274.90 on Thursday. The business has a fifty day moving average price of $282.81 and a 200 day moving average price of $237.46. Coinbase Global, Inc. has a one year low of $137.13 and a one year high of $349.75. 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 company has a market cap of $68.82 billion, a P/E ratio of 46.91 and a beta of 3.61.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Keefe, Bruyette & Woods lowered their price objective on 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. The Goldman Sachs Group decreased their target price 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. Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. Finally, Oppenheimer cut their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $286.00.

Insider Transactions at Coinbase Global

In related news, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $144,786.76. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 7,104 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the completion of the sale, the insider now directly owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 386,798 shares of company stock valued at $114,707,944 over the last 90 days. 23.43% of the stock is currently owned by corporate insiders.

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.