Capital Advisors Inc. OK Takes $223,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Capital Advisors Inc. OK acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 899 shares of the cryptocurrency exchange’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Coinbase Global by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after buying an additional 71,398 shares during the period. Clear Street Derivatives LLC purchased a new position in Coinbase Global during the third quarter worth about $409,919,000. Charles Schwab Investment Management Inc. increased its position in shares of Coinbase Global by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after acquiring an additional 52,856 shares during the last quarter. Finally, Ribbit Management Company LLC raised its stake in shares of Coinbase Global by 4.7% in the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after acquiring an additional 17,650 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 3.0 %

NASDAQ:COIN opened at $274.90 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a 1 year low of $137.13 and a 1 year high of $349.75. The stock has a market cap of $68.82 billion, a P/E ratio of 46.91 and a beta of 3.61. The stock has a 50-day simple moving average of $282.81 and a 200-day simple moving average of $237.46.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on COIN shares. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $250.00 to $290.00 in a research report on Wednesday, January 29th. Monness Crespi & Hardt raised their price target on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Needham & Company LLC cut their price objective on Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, February 7th. HC Wainwright raised their target price on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays boosted their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.00.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 15,228 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total value of $4,271,606.28. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,922,072.67. The trade was a 59.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $172,528. This represents a 99.11 % 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 three months. 23.43% of the stock is owned by corporate insiders.

Coinbase Global 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.