Consolidated Portfolio Review Corp Acquires New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Consolidated Portfolio Review Corp bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,904 shares of the cryptocurrency exchange’s stock, valued at approximately $1,218,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC bought a new position in shares of Coinbase Global in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new position in Coinbase Global in the 3rd quarter valued at $32,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after purchasing an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Coinbase Global in the third quarter worth $55,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

COIN stock opened at $270.37 on Friday. The stock has a market capitalization of $67.69 billion, a price-to-earnings ratio of 46.14 and a beta of 3.61. The firm’s 50-day moving average price is $285.66 and its two-hundred day moving average price is $236.83. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Needham & Company LLC boosted their target price on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective on the stock. Barclays lifted their target price on shares of Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $280.00 price target on shares of Coinbase Global in a report on Thursday, October 31st. Finally, Piper Sandler lifted their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Nine investment 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, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $289.06.

Insider Buying and Selling at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 15,228 shares of Coinbase Global stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the sale, the director now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 401,798 shares of company stock valued at $119,826,444 in the last 90 days. 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.