Means Investment CO. Inc. Purchases Shares of 810 Coinbase Global, Inc. (NASDAQ:COIN)

Means Investment CO. Inc. acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 810 shares of the cryptocurrency exchange’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Clear Street Derivatives LLC purchased a new position in Coinbase Global during the 3rd quarter worth $409,919,000. Geode Capital Management LLC raised its position in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the last quarter. Azora Capital LP boosted its stake in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after purchasing an additional 220,078 shares in the last quarter. Holocene Advisors LP purchased a new stake in Coinbase Global during the 3rd quarter worth approximately $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Coinbase Global in the third quarter worth $29,756,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 3.3 %

NASDAQ:COIN opened at $291.33 on Monday. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The stock’s fifty day moving average is $288.00 and its two-hundred day moving average is $235.80. The stock has a market capitalization of $72.93 billion, a price-to-earnings ratio of 49.72 and a beta of 3.61. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48.

Insider Buying and Selling

In other news, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. This represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lawrence J. Brock sold 4,635 shares of Coinbase Global stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $250.00, for a total value of $1,158,750.00. Following the completion of the transaction, the insider now owns 18,525 shares of the company’s stock, valued at approximately $4,631,250. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 376,205 shares of company stock valued at $112,487,737. Corporate insiders own 23.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on COIN shares. Barclays raised 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. Oppenheimer reduced their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Thursday, October 31st. Needham & Company LLC boosted their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group dropped their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average target price of $289.06.

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.