McAdam LLC Takes $251,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

McAdam LLC purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,010 shares of the cryptocurrency exchange’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of Coinbase Global by 10.1% in the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global in the third quarter worth $409,919,000. Charles Schwab Investment Management Inc. lifted its position in shares of Coinbase Global by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock worth $163,752,000 after purchasing an additional 52,856 shares in the last quarter. Finally, Ribbit Management Company LLC lifted its position in shares of Coinbase Global by 4.7% in the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after purchasing an additional 17,650 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Monness Crespi & Hardt upped their price target on shares of Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Finally, Oppenheimer dropped 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. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $289.06.

Insiders Place Their Bets

In other news, COO Emilie Choi sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 directly owns 177,576 shares in the company, valued at approximately $52,972,696.56. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the sale, the director now owns 10,417 shares in the company, valued at approximately $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 376,205 shares of company stock worth $112,487,737 over the last ninety days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Trading Down 2.4 %

Shares of Coinbase Global stock opened at $284.41 on Tuesday. The company has a market capitalization of $71.20 billion, a price-to-earnings ratio of 48.53 and a beta of 3.61. The company has a quick ratio of 1.03, a current 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. The firm’s 50-day moving average price is $287.44 and its two-hundred day moving average price is $236.16.

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.