Rede Wealth LLC Purchases 158 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Rede Wealth LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,977 shares of the cryptocurrency exchange’s stock after purchasing an additional 158 shares during the period. Coinbase Global comprises approximately 0.8% of Rede Wealth LLC’s portfolio, making the stock its 14th biggest holding. Rede Wealth LLC’s holdings in Coinbase Global were worth $1,981,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake 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 worth $34,000 after acquiring an additional 106 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Coinbase Global in the third quarter worth $25,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global in the third quarter worth $32,000. Spirit of America Management Corp NY lifted its position in Coinbase Global by 66.7% during the fourth quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock valued at $62,000 after buying an additional 100 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Coinbase Global by 408.0% during 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. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of several recent research reports. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt raised their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $250.00 to $290.00 in a research report on Wednesday, January 29th. Barclays raised their price objective on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lowered their price objective on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $284.06.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 15,858 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $298.98, for a total transaction of $4,741,224.84. Following the completion of the sale, the insider now directly owns 21,019 shares in the company, valued at $6,284,260.62. The trade was a 43.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 7,104 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the sale, the insider now owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 401,798 shares of company stock worth $119,826,444 in the last three months. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

NASDAQ COIN opened at $274.49 on Friday. Coinbase Global, Inc. has a one year low of $125.81 and a one year high of $349.75. The stock has a 50-day moving average of $285.22 and a 200 day moving average of $236.75. The company has a market capitalization of $68.72 billion, a price-to-earnings ratio of 46.84 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.

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.