Coinbase Global, Inc. (NASDAQ:COIN) Stock Position Cut by Optas LLC

Optas LLC decreased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,636 shares of the cryptocurrency exchange’s stock after selling 2,727 shares during the period. Coinbase Global makes up 0.7% of Optas LLC’s portfolio, making the stock its 28th biggest position. Optas LLC’s holdings in Coinbase Global were worth $3,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global during the third quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in shares of Coinbase Global during the 3rd quarter valued at $32,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after buying an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 204 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in Coinbase Global during the third quarter valued at about $55,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of COIN opened at $284.41 on Tuesday. The company has a market capitalization of $71.20 billion, a PE ratio of 48.53 and a beta of 3.61. 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 company’s 50 day moving average price is $287.44 and its 200 day moving average price is $236.16. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lawrence J. Brock sold 4,635 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $250.00, for a total transaction of $1,158,750.00. Following the completion of the sale, the insider now directly owns 18,525 shares of the company’s stock, valued at $4,631,250. This represents a 20.01 % 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 quarter. Company insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of several research reports. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research report on Wednesday, October 9th. Oppenheimer cut their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Monness Crespi & Hardt upped their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. The Goldman Sachs Group reduced their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Barclays boosted their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

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.