Means Investment CO. Inc. Invests $201,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Means Investment CO. Inc. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 810 shares of the cryptocurrency exchange’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently added to or reduced their stakes in COIN. NewEdge Advisors LLC raised its holdings in shares of Coinbase Global by 7.3% in the second quarter. NewEdge Advisors LLC now owns 4,863 shares of the cryptocurrency exchange’s stock valued at $1,081,000 after buying an additional 332 shares during the last quarter. Truist Financial Corp lifted its position in Coinbase Global by 12.1% during the 2nd quarter. Truist Financial Corp now owns 5,988 shares of the cryptocurrency exchange’s stock worth $1,331,000 after acquiring an additional 646 shares during the period. Cetera Investment Advisers increased its holdings in shares of Coinbase Global by 9.1% in the second quarter. Cetera Investment Advisers now owns 28,306 shares of the cryptocurrency exchange’s stock valued at $6,291,000 after purchasing an additional 2,371 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Coinbase Global during the second quarter worth approximately $2,908,000. Finally, Centaurus Financial Inc. lifted its holdings in shares of Coinbase Global by 42.2% during the second quarter. Centaurus Financial Inc. now owns 657 shares of the cryptocurrency exchange’s stock worth $146,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Down 3.3 %

Coinbase Global stock opened at $291.33 on Monday. The stock has a 50-day moving average price of $288.00 and a 200 day moving average price of $235.80. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. The stock has a market cap of $72.93 billion, a PE ratio of 49.72 and a beta of 3.61. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 10,216 shares of Coinbase Global stock in a transaction on Friday, January 24th. The shares were sold at an average price of $310.14, for a total value of $3,168,390.24. Following the transaction, the director now owns 10,417 shares in the company, valued at $3,230,728.38. This trade represents a 49.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the transaction, the chief financial officer now owns 144,470 shares in the company, valued at $38,554,708.90. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 376,205 shares of company stock worth $112,487,737 over the last ninety days. 23.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COIN shares. Needham & Company LLC upped their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler raised their price objective on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their target price on 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. Bank of America raised their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $289.06.

About Coinbase Global

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.