abrdn plc reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 16.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,155 shares of the cryptocurrency exchange's stock after selling 5,633 shares during the quarter. abrdn plc's holdings in Coinbase Global were worth $7,239,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in COIN. RPg Family Wealth Advisory LLC acquired a new position in Coinbase Global during the third quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in Coinbase Global during the 3rd quarter worth about $32,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock valued at $34,000 after acquiring an additional 106 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock valued at $45,000 after acquiring an additional 204 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Coinbase Global in the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 68.84% of the company's stock.
Several research firms have recently commented on COIN. B. Riley began coverage on shares of Coinbase Global in a research note on Wednesday, October 23rd. They issued a "neutral" rating and a $185.00 price objective for the company. Keefe, Bruyette & Woods decreased their price target on shares of 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. Oppenheimer dropped 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 note on Friday, January 17th. Monness Crespi & Hardt increased their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Finally, Barclays boosted their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an "equal weight" rating in a research note on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Coinbase Global currently has an average rating of "Moderate Buy" and a consensus target price of $284.06.
View Our Latest Report on Coinbase Global
In other news, Director Frederick Ernest Ehrsam III sold 15,228 shares of Coinbase Global stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total value of $4,271,606.28. Following the transaction, the director now directly owns 10,417 shares of the company's stock, valued at $2,922,072.67. The trade was a 59.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company's stock, valued at approximately $142,540.74. This trade represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 401,798 shares of company stock worth $119,826,444. Corporate insiders own 23.43% of the company's stock.
COIN traded up $4.12 on Friday, reaching $274.49. The company had a trading volume of 7,866,585 shares, compared to its average volume of 7,607,109. 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 1 year low of $125.81 and a 1 year high of $349.75. The stock has a market capitalization of $68.72 billion, a PE ratio of 46.84 and a beta of 3.61. The stock has a 50-day moving average price of $285.22 and a 200-day moving average price of $236.75.
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.
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