Summit Trail Advisors LLC Has $14.24 Million Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Summit Trail Advisors LLC reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 12.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 57,351 shares of the cryptocurrency exchange’s stock after selling 8,168 shares during the quarter. Coinbase Global accounts for 0.5% of Summit Trail Advisors LLC’s holdings, making the stock its 25th biggest position. Summit Trail Advisors LLC’s holdings in Coinbase Global were worth $14,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. SOA Wealth Advisors LLC. boosted its position in shares of Coinbase Global by 17.7% during the 4th quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after purchasing an additional 40 shares in the last quarter. Empowered Funds LLC lifted its stake in Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after buying an additional 43 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of Coinbase Global by 1.7% during the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock worth $635,000 after buying an additional 44 shares in the last quarter. Capital Advisors Wealth Management LLC grew its position in shares of Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 45 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its stake in shares of Coinbase Global by 9.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after acquiring an additional 51 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now owns 69,407 shares in the company, valued at approximately $17,816,082.83. The trade was a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 361,798 shares of company stock worth $107,826,444 in the last 90 days. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 2.1 %

Coinbase Global stock opened at $280.22 on Tuesday. Coinbase Global, Inc. has a fifty-two week low of $137.13 and a fifty-two week high of $349.75. 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 firm’s 50-day simple moving average is $284.78 and its 200 day simple moving average is $237.03. The stock has a market cap of $70.15 billion, a PE ratio of 47.82 and a beta of 3.61.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research analyst reports. Oppenheimer cut their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. 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 research report on Friday. B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $250.00 to $290.00 in a report on Wednesday, January 29th. Finally, Piper Sandler boosted their price objective on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $284.06.

About Coinbase Global

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.