25,488 Shares in Coinbase Global, Inc. (NASDAQ:COIN) Bought by Ninety One SA PTY Ltd

Ninety One SA PTY Ltd purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,488 shares of the cryptocurrency exchange’s stock, valued at approximately $6,329,000. Coinbase Global accounts for 1.4% of Ninety One SA PTY Ltd’s investment portfolio, making the stock its 22nd biggest position.

A number of other institutional investors also recently modified their holdings of COIN. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Coinbase Global by 365.5% during 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 during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global in 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 worth approximately $32,000. Brown Brothers Harriman & Co. raised its stake in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares in the last quarter. Finally, Financial Life Planners acquired a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $69,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on COIN. Barclays upped their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Bank of America raised their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Oppenheimer lowered their price objective 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. Finally, B. Riley began coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.06.

Coinbase Global Price Performance

COIN stock opened at $280.39 on Wednesday. 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 cap of $70.20 billion, a price-to-earnings ratio of 47.85 and a beta of 3.61. The company’s fifty day simple moving average is $287.18 and its 200 day simple moving average is $236.32. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75.

Insider Activity

In related news, CAO Jennifer N. Jones sold 1,837 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Grewal sold 7,104 shares of Coinbase Global stock in a transaction 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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold 371,570 shares of company stock valued at $111,328,987 in the last ninety days. 23.43% of the stock is owned by company insiders.

Coinbase Global Company 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.