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

McAdam LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, Holdings Channel reports. The firm acquired 1,010 shares of the cryptocurrency exchange’s stock, valued at approximately $251,000.

Several other hedge funds also recently modified their holdings of the stock. NewEdge Advisors LLC grew its position in Coinbase Global by 7.3% in the 2nd quarter. NewEdge Advisors LLC now owns 4,863 shares of the cryptocurrency exchange’s stock valued at $1,081,000 after purchasing an additional 332 shares during the period. Truist Financial Corp grew its position in Coinbase Global by 12.1% in the 2nd quarter. Truist Financial Corp now owns 5,988 shares of the cryptocurrency exchange’s stock valued at $1,331,000 after purchasing an additional 646 shares during the period. Cetera Investment Advisers grew its position in Coinbase Global by 9.1% in the 2nd quarter. Cetera Investment Advisers now owns 28,306 shares of the cryptocurrency exchange’s stock valued at $6,291,000 after purchasing an additional 2,371 shares during the period. Sanctuary Advisors LLC acquired a new stake in Coinbase Global in the 2nd quarter valued at $2,908,000. Finally, Centaurus Financial Inc. grew its position in Coinbase Global by 42.2% in the 2nd quarter. Centaurus Financial Inc. now owns 657 shares of the cryptocurrency exchange’s stock valued at $146,000 after purchasing an additional 195 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other news, insider Lawrence J. Brock sold 4,635 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the sale, the insider now directly owns 18,525 shares of the company’s stock, valued at approximately $4,631,250. This represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 376,205 shares of company stock valued at $112,487,737 over the last three months. 23.43% of the stock is currently owned by insiders.

Analyst Ratings Changes

COIN has been the subject of several research reports. B. Riley started coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Keefe, Bruyette & Woods cut their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Barclays lifted their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $250.00 to $290.00 in a report on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $289.06.

Coinbase Global Price Performance

NASDAQ COIN opened at $284.41 on Tuesday. The company has a market cap of $71.20 billion, a PE ratio of 48.53 and a beta of 3.61. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. 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 firm’s 50-day simple moving average is $287.44 and its two-hundred day simple moving average is $236.16.

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.