Coinbase Global, Inc. (NASDAQ:COIN) Holdings Cut by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 302,725 shares of the cryptocurrency exchange’s stock after selling 200 shares during the period. Coinbase Global makes up about 4.8% of Cullinan Associates Inc.’s holdings, making the stock its 3rd biggest holding. Cullinan Associates Inc. owned approximately 0.12% of Coinbase Global worth $75,167,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COIN. MassMutual Private Wealth & Trust FSB increased its position in shares of Coinbase Global by 365.5% in 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 last quarter. RPg Family Wealth Advisory LLC bought a new stake in Coinbase Global in the third quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new stake in Coinbase Global during the third quarter valued at approximately $32,000. Brown Brothers Harriman & Co. lifted its holdings in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after buying an additional 204 shares during the last quarter. Finally, Financial Life Planners bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $69,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $298.31, for a total value of $447,465.00. Following the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 376,205 shares of company stock valued at $112,487,737. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of several research analyst reports. Needham & Company LLC raised their price objective on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Oppenheimer reduced their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $250.00 to $290.00 in a research report on Wednesday, January 29th. Monness Crespi & Hardt raised their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average price target of $289.06.

Coinbase Global Stock Down 2.4 %

Coinbase Global stock opened at $284.41 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $71.20 billion, a price-to-earnings ratio of 48.53 and a beta of 3.61. The firm’s fifty day moving average price is $287.44 and its two-hundred day moving average price is $236.16. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75.

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.