Three Bridge Wealth Advisors LLC Trims Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Three Bridge Wealth Advisors LLC lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 40.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,398 shares of the cryptocurrency exchange’s stock after selling 50,000 shares during the period. Coinbase Global accounts for 6.5% of Three Bridge Wealth Advisors LLC’s holdings, making the stock its 4th biggest holding. Three Bridge Wealth Advisors LLC’s holdings in Coinbase Global were worth $18,473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of COIN. SOA Wealth Advisors LLC. lifted its holdings in shares of Coinbase Global by 17.7% in the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock worth $66,000 after purchasing an additional 40 shares in the last quarter. Empowered Funds LLC raised its holdings in Coinbase Global by 0.8% during the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock worth $924,000 after buying an additional 43 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after buying an additional 44 shares in the last quarter. Capital Advisors Wealth Management LLC grew its holdings in shares of Coinbase Global by 3.2% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 45 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Coinbase Global by 9.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COIN. Oppenheimer lowered their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. HC Wainwright raised their target price on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America lifted their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt increased their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC cut their price objective on shares of Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $286.00.

Insider Activity

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 26,649 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $308.14, for a total transaction of $8,211,622.86. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,209,894.38. This represents a 71.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 58,269 shares of the 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 transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 386,798 shares of company stock valued at $114,707,944 in the last three months. Company insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $274.90 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $68.82 billion, a PE ratio of 46.91 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $137.13 and a 52-week high of $349.75. The company has a 50-day simple moving average of $282.81 and a 200 day simple moving average of $237.46.

Coinbase Global Company 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.