Benchmark Financial Wealth Advisors LLC Makes New Investment in Coinbase Global, Inc. (NASDAQ:COIN)

Benchmark Financial Wealth Advisors LLC bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 898 shares of the cryptocurrency exchange’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nvwm LLC lifted its stake in shares of Coinbase Global by 2,687.8% in the fourth quarter. Nvwm LLC now owns 2,509 shares of the cryptocurrency exchange’s stock worth $623,000 after buying an additional 2,419 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Coinbase Global by 5,904.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,720 shares of the cryptocurrency exchange’s stock worth $7,054,000 after acquiring an additional 26,275 shares during the period. Spirit of America Management Corp NY lifted its position in Coinbase Global by 66.7% during the 4th quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock worth $62,000 after acquiring an additional 100 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Coinbase Global by 79.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 17,242 shares of the cryptocurrency exchange’s stock valued at $4,281,000 after acquiring an additional 7,648 shares during the period. Finally, Yousif Capital Management LLC grew its position in shares of Coinbase Global by 1.7% in the fourth quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, COO Emilie Choi sold 1,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total transaction of $447,465.00. Following the sale, the chief operating officer now directly owns 177,576 shares in the company, valued at $52,972,696.56. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of Coinbase Global stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. The trade was a 61.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 386,570 shares of company stock valued at $115,554,837. 23.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on COIN shares. Needham & Company LLC boosted their price objective on Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 9th. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research note on Thursday, October 31st. Keefe, Bruyette & Woods decreased their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. Finally, Oppenheimer cut their price objective on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average target price of $289.06.

Coinbase Global Stock Down 1.9 %

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