Rede Wealth LLC Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Rede Wealth LLC grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,977 shares of the cryptocurrency exchange’s stock after buying an additional 158 shares during the period. Coinbase Global accounts for 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after purchasing an additional 106 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in Coinbase Global in the 3rd quarter worth approximately $32,000. Spirit of America Management Corp NY lifted its holdings in Coinbase Global by 66.7% in the 4th quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock worth $62,000 after purchasing an additional 100 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Coinbase Global by 408.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total value of $2,566,900.00. Following the completion of the sale, the insider now directly owns 69,407 shares in the company, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the sale, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 401,798 shares of company stock valued at $119,826,444 in the last quarter. 23.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. B. Riley started coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price objective on the stock. 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. Keefe, Bruyette & Woods decreased their price objective on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Finally, Monness Crespi & Hardt upped their price objective on Coinbase Global from $245.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.06.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $274.49 on Friday. The stock’s fifty day moving average is $285.22 and its two-hundred day moving average is $236.75. The company has a market capitalization of $68.72 billion, a PE ratio of 46.84 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. Coinbase Global, Inc. has a 52 week low of $125.81 and a 52 week high of $349.75.

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.