Bleakley Financial Group LLC Decreases Position in Coinbase Global, Inc. (NASDAQ:COIN)

Bleakley Financial Group LLC decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,414 shares of the cryptocurrency exchange’s stock after selling 79 shares during the quarter. Bleakley Financial Group LLC’s holdings in Coinbase Global were worth $848,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Clear Street Derivatives LLC purchased a new position in Coinbase Global during the third quarter worth $409,919,000. Geode Capital Management LLC boosted its stake 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. Azora Capital LP grew its holdings in Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after purchasing an additional 220,078 shares during the last quarter. Holocene Advisors LP purchased a new stake in Coinbase Global in the 3rd quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in Coinbase Global in the third quarter worth about $29,756,000. Institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COIN. Keefe, Bruyette & Woods cut their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Monness Crespi & Hardt increased their target price on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Needham & Company LLC lowered their target price on shares of Coinbase Global from $420.00 to $330.00 and set a “buy” rating for the company in a research note on Friday. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $250.00 to $290.00 in a research note on Wednesday, January 29th. Finally, 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. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $284.06.

Coinbase Global Stock Up 1.5 %

NASDAQ:COIN opened at $274.49 on Monday. The company’s 50-day simple moving average is $285.22 and its 200-day simple moving average is $236.69. 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 fifty-two week low of $125.81 and a fifty-two week high of $349.75. The stock has a market capitalization of $68.72 billion, a P/E ratio of 46.84 and a beta of 3.61.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now directly owns 1,160 shares in the company, valued at approximately $342,223.20. This trade represents a 61.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. This represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 361,798 shares of company stock worth $107,826,444 over the last three months. Corporate insiders own 23.43% of the company’s stock.

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.