Capital Advisors Inc. OK Takes Position in Coinbase Global, Inc. (NASDAQ:COIN)

Capital Advisors Inc. OK purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 899 shares of the cryptocurrency exchange’s stock, valued at approximately $223,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sovran Advisors LLC purchased a new position in shares of Coinbase Global in the 4th quarter valued at approximately $325,000. Focus Financial Network Inc. lifted its holdings in shares of Coinbase Global by 39.6% during the fourth quarter. Focus Financial Network Inc. now owns 1,939 shares of the cryptocurrency exchange’s stock worth $481,000 after purchasing an additional 550 shares during the period. Soltis Investment Advisors LLC purchased a new position in Coinbase Global in the 4th quarter valued at $1,426,000. Wingate Wealth Advisors Inc. acquired a new position in Coinbase Global in the 4th quarter valued at $27,000. Finally, Savant Capital LLC purchased a new position in Coinbase Global during the 4th quarter worth $591,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $250.00 to $290.00 in a report on Wednesday, January 29th. Bank of America boosted their target price on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays raised their price target on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Piper Sandler upped their price objective on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group reduced their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $286.00.

Coinbase Global Trading Up 3.0 %

Shares of Coinbase Global stock opened at $274.90 on Thursday. Coinbase Global, Inc. has a 1 year low of $137.13 and a 1 year high of $349.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day moving average price of $282.81 and a 200 day moving average price of $237.46. The company has a market capitalization of $68.82 billion, a P/E ratio of 46.91 and a beta of 3.61.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total transaction of $6,881,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $144,786.76. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total transaction of $541,951.74. Following the transaction, the chief accounting officer now directly owns 1,160 shares in the company, valued at $342,223.20. The trade was a 61.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 386,798 shares of company stock valued at $114,707,944. Corporate insiders own 23.43% of the company’s stock.

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.