Coinbase Global, Inc. (NASDAQ:COIN) is Three Bridge Wealth Advisors LLC’s 4th Largest Position

Three Bridge Wealth Advisors LLC decreased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 40.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 74,398 shares of the cryptocurrency exchange’s stock after selling 50,000 shares during the period. Coinbase Global accounts for 6.5% of Three Bridge Wealth Advisors LLC’s investment portfolio, making the stock its 4th largest position. Three Bridge Wealth Advisors LLC’s holdings in Coinbase Global were worth $18,473,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Clear Street Derivatives LLC bought a new stake in shares of Coinbase Global during the third quarter valued at about $409,919,000. Geode Capital Management LLC grew its stake in Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after acquiring an additional 314,388 shares in the last quarter. Azora Capital LP increased its holdings in Coinbase Global by 214.1% during the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after acquiring an additional 220,078 shares during the period. Holocene Advisors LP purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $29,756,000. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the completion of the sale, the insider now owns 79,407 shares in the company, valued at approximately $24,441,474.60. The trade was a 8.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 386,798 shares of company stock worth $114,707,944 over the last three months. Company insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on COIN shares. Oppenheimer reduced their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Needham & Company LLC reduced their target price on Coinbase Global from $420.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Monness Crespi & Hardt raised their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a report on Thursday, December 19th. HC Wainwright boosted their price objective on Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $250.00 to $290.00 in a research report on Wednesday, January 29th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus price target of $286.00.

Coinbase Global Price Performance

COIN stock opened at $274.90 on Thursday. The firm has a market cap of $68.82 billion, a P/E ratio of 46.91 and a beta of 3.61. The firm’s fifty day moving average is $282.81 and its 200 day moving average is $237.46. Coinbase Global, Inc. has a 52 week low of $137.13 and a 52 week high of $349.75. 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 Company 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.