Coinbase Global, Inc. $COIN Stock Sold by Three Bridge Wealth Advisors LLC

Three Bridge Wealth Advisors LLC reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 44.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,477 shares of the cryptocurrency exchange’s stock after selling 32,696 shares during the quarter. Coinbase Global makes up about 1.6% of Three Bridge Wealth Advisors LLC’s portfolio, making the stock its 17th biggest holding. Three Bridge Wealth Advisors LLC’s holdings in Coinbase Global were worth $7,732,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. Maryland State Retirement & Pension System raised its holdings in Coinbase Global by 9.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 13,350 shares of the cryptocurrency exchange’s stock valued at $2,489,000 after acquiring an additional 1,174 shares during the period. Ritholtz Wealth Management bought a new position in shares of Coinbase Global during the third quarter worth approximately $246,000. Granville Capital Inc. bought a new position in shares of Coinbase Global during the third quarter worth approximately $243,000. First Command Advisory Services Inc. increased its stake in shares of Coinbase Global by 359.3% during the third quarter. First Command Advisory Services Inc. now owns 1,015 shares of the cryptocurrency exchange’s stock worth $189,000 after purchasing an additional 794 shares during the period. Finally, Turn8 Private Wealth Inc. acquired a new stake in Coinbase Global during the 3rd quarter worth approximately $308,000. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total transaction of $1,789,300.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc L. Andreessen sold 13,676 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $186.18, for a total value of $2,546,197.68. Following the sale, the director directly owned 1,115,810 shares in the company, valued at approximately $207,741,505.80. This trade represents a 1.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 92,120 shares of company stock valued at $17,968,544 over the last 90 days. 16.66% of the stock is currently owned by insiders.

Latest Coinbase Global News

Here’s some of the latest news about COIN:

• Positive Sentiment: The OCC granted Coinbase final approval for a national trust bank charter, supporting its ability to offer crypto custody, payments and stablecoin services under federal oversight. The charter does not allow customer deposits or commercial lending, but it may strengthen Coinbase’s position with institutional clients. Article: Coinbase’s national trust charter approval is a major win for crypto custody
• Positive Sentiment: Coinbase’s expanded partnership with PNC on stablecoin payments for corporate clients could create new transaction and fee opportunities, as the company looks to broaden revenue beyond crypto trading. Article: PNC Financial’s Arm Broadens Digital Push With Stablecoin Payments
• Negative Sentiment: COIN remains under pressure after a steep monthly decline. The recent recovery in Bitcoin and technology stocks is helping sentiment, but the stock remains sensitive to crypto prices and broader risk appetite. Article: Coinbase Is Still Down 23% in the Past Month: Did Today Mark the Bottom for COIN Stock?

Coinbase Global Stock Up 3.1%

NASDAQ COIN opened at $136.27 on Thursday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.43. The company has a market cap of $36.08 billion, a price-to-earnings ratio of -48.15 and a beta of 3.35. The company has a 50 day moving average of $172.57 and a 200-day moving average of $174.95. Coinbase Global, Inc. has a 1-year low of $129.41 and a 1-year high of $311.50.

Analysts Set New Price Targets

COIN has been the topic of a number of research reports. Raymond James Financial initiated coverage on Coinbase Global in a report on Wednesday, July 22nd. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. lifted their target price on Coinbase Global from $148.00 to $189.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. UBS Group set a $155.00 target price on Coinbase Global in a report on Friday, July 31st. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 target price on shares of Coinbase Global in a research report on Thursday, October 29th. Finally, Benchmark decreased their price target on shares of Coinbase Global from $270.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Twenty-one research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $209.88.

About Coinbase Global

Coinbase Global operates a cryptocurrency platform serving individual consumers, businesses and institutional clients. Its services include buying, selling and holding digital assets, as well as trading tools and cryptocurrency custody services. The company also offers products for developers and businesses building on blockchain networks, including Base, its Ethereum layer-2 network. Coinbase supports the USDC stablecoin through its partnership with Circle and provides services such as staking and payment infrastructure.