Almanack Investment Partners LLC. Invests $241,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Almanack Investment Partners LLC. acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, Holdings Channel reports. The fund acquired 972 shares of the cryptocurrency exchange’s stock, valued at approximately $241,000.

A number of other hedge funds have also recently bought and sold shares of COIN. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Coinbase Global by 365.5% during 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 during the period. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global during the third quarter worth about $25,000. ORG Wealth Partners LLC purchased a new position in Coinbase Global during the third quarter worth about $32,000. Spirit of America Management Corp NY grew 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 valued at $62,000 after buying an additional 100 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in shares of 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 last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $250.00 to $290.00 in a research report on Wednesday, January 29th. Oppenheimer lowered their price objective 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. Piper Sandler increased their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and set a $295.00 price target on shares of Coinbase Global in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $284.06.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at approximately $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frederick R. Wilson sold 40,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $300.00, for a total transaction of $12,000,000.00. Following the completion of the sale, the director now directly owns 50,000 shares in the company, valued at $15,000,000. This represents a 44.44 % 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 worth $119,826,444 in the last three months. 23.43% of the stock is owned by insiders.

Coinbase Global Stock Up 1.5 %

Shares of NASDAQ COIN opened at $274.49 on Friday. The firm has a market cap of $68.72 billion, a price-to-earnings ratio of 46.84 and a beta of 3.61. Coinbase Global, Inc. has a 1 year low of $125.81 and a 1 year 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. The stock’s 50-day simple moving average is $285.22 and its 200-day simple moving average is $236.89.

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.