Ninety One UK Ltd Takes $16.89 Million Position in Coinbase Global, Inc. (NASDAQ:COIN)

Ninety One UK Ltd acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 68,009 shares of the cryptocurrency exchange’s stock, valued at approximately $16,887,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Coinbase Global by 365.5% during the fourth 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 acquired a new stake in Coinbase Global during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new stake in Coinbase Global during the 3rd quarter worth approximately $32,000. Brown Brothers Harriman & Co. increased its position in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares during the period. Finally, Financial Life Planners bought a new position in shares of Coinbase Global during the fourth quarter valued at $69,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. This trade represents a 61.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 386,570 shares of company stock worth $115,554,837. Corporate insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several analyst reports. Bank of America boosted their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $250.00 to $290.00 in a research note on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their price objective on shares of 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. Finally, Barclays boosted their price objective 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 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $275.14 on Thursday. 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 stock’s fifty day simple moving average is $286.47 and its two-hundred day simple moving average is $236.59. Coinbase Global, Inc. has a 1-year low of $114.51 and a 1-year high of $349.75. The stock has a market cap of $68.88 billion, a PE ratio of 46.95 and a beta of 3.61.

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.