Welch Group LLC Purchases New Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Welch Group LLC acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, Holdings Channel reports. The firm acquired 1,000 shares of the cryptocurrency exchange’s stock, valued at approximately $256,000.

A number of other institutional investors also recently made changes to their positions in COIN. Sloy Dahl & Holst LLC lifted its position in shares of Coinbase Global by 3.7% during the fourth quarter. Sloy Dahl & Holst LLC now owns 61,493 shares of the cryptocurrency exchange’s stock worth $15,269,000 after purchasing an additional 2,187 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Coinbase Global during the 4th quarter valued at approximately $69,000. Means Investment CO. Inc. bought a new position in shares of Coinbase Global in the 4th quarter worth about $201,000. GPS Wealth Strategies Group LLC lifted its holdings in Coinbase Global by 70.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 362 shares of the cryptocurrency exchange’s stock worth $90,000 after acquiring an additional 150 shares during the last quarter. Finally, McAdam LLC bought a new stake in shares of Coinbase Global in the 4th quarter worth approximately $251,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In other news, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the sale, the insider now owns 79,407 shares of the company’s stock, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 376,205 shares of company stock valued at $112,487,737 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the subject of a number of analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Oppenheimer lowered their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group dropped their target price on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Needham & Company LLC increased their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $250.00 to $290.00 in a research report on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Coinbase Global Trading Down 2.4 %

Shares of NASDAQ:COIN opened at $284.41 on Tuesday. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month 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 has a market capitalization of $71.20 billion, a P/E ratio of 48.53 and a beta of 3.61. The firm has a fifty day moving average of $287.44 and a two-hundred day moving average of $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.