Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Walter & Keenan Wealth Management LLC IN ADV

Walter & Keenan Wealth Management LLC IN ADV reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,682 shares of the cryptocurrency exchange’s stock after selling 1,393 shares during the period. Coinbase Global makes up approximately 1.0% of Walter & Keenan Wealth Management LLC IN ADV’s holdings, making the stock its 27th largest holding. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Coinbase Global were worth $3,149,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of COIN. Banco Santander S.A. lifted its stake in shares of Coinbase Global by 12.7% during the third quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after purchasing an additional 16,737 shares in the last quarter. Global Retirement Partners LLC lifted its position in Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global in the 3rd quarter worth approximately $29,756,000. Lindbrook Capital LLC boosted its holdings in Coinbase Global by 30.2% in the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after acquiring an additional 6,963 shares during the period. Finally, Wellington Management Group LLP grew its position in Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after acquiring an additional 16,363 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the sale, the insider now directly owns 79,407 shares in the company, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 15,228 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $2,922,072.67. This trade represents a 59.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 361,798 shares of company stock worth $107,826,444 in the last 90 days. 23.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of Coinbase Global from $420.00 to $330.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler upped their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and raised their target price for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. B. Riley started coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Finally, Bank of America lifted their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Nine investment 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 stock currently has an average rating of “Moderate Buy” and an average target price of $284.06.

Coinbase Global Stock Performance

Shares of COIN stock opened at $274.49 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $285.22 and a two-hundred day moving average of $236.69. The company has a market cap of $68.72 billion, a P/E ratio of 46.84 and a beta of 3.61. Coinbase Global, Inc. has a 52 week low of $125.81 and a 52 week high of $349.75.

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.