Lindbrook Capital LLC Has $6.17 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Lindbrook Capital LLC decreased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,860 shares of the cryptocurrency exchange’s stock after selling 5,152 shares during the period. Coinbase Global comprises 0.6% of Lindbrook Capital LLC’s holdings, making the stock its 29th largest holding. Lindbrook Capital LLC’s holdings in Coinbase Global were worth $6,173,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the third quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its position in Coinbase Global by 365.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in 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 in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Coinbase Global in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on COIN. HC Wainwright restated a “buy” rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Oppenheimer restated an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and issued a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. JMP Securities raised their price target on shares of Coinbase Global from $400.00 to $475.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $311.56.

Insiders Place Their Bets

In other news, Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the transaction, the director now directly owns 10,417 shares in the company, valued at $3,230,728.38. This trade represents a 49.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at $17,816,082.83. This represents a 12.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,455 shares of company stock worth $60,955,968. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $222.45 on Thursday. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The firm has a fifty day simple moving average of $264.38 and a 200 day simple moving average of $241.24. The company has a market capitalization of $56.48 billion, a PE ratio of 23.42 and a beta of 3.61. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.