Brandywine Oak Private Wealth LLC Buys New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Brandywine Oak Private Wealth LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,226 shares of the cryptocurrency exchange’s stock, valued at approximately $304,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of COIN. Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 10.1% in the 3rd 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. grew its position in 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 buying an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global in the third quarter valued at $409,919,000. Charles Schwab Investment Management Inc. lifted its position in shares of Coinbase Global by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after acquiring an additional 52,856 shares during the last quarter. Finally, Ribbit Management Company LLC boosted its stake in shares of Coinbase Global by 4.7% during the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after acquiring an additional 17,650 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Price Performance

Shares of COIN opened at $275.14 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. Coinbase Global, Inc. has a twelve month low of $114.51 and a twelve month high of $349.75. The firm’s 50 day moving average price is $286.47 and its 200 day moving average price is $236.59. The firm has a market cap of $68.88 billion, a PE ratio of 46.95 and a beta of 3.61.

Analyst Ratings Changes

COIN has been the topic of a number of recent analyst reports. Oppenheimer cut their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Bank of America boosted 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. The Goldman Sachs Group decreased their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. HC Wainwright restated a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now directly owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This represents a 12.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on Monday, November 18th. The stock was 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 directly owns 526 shares in the company, valued at $172,528. The trade was a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 386,570 shares of company stock valued at $115,554,837 over the last three months. 23.43% of the stock is currently owned by insiders.

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.