Newbridge Financial Services Group Inc. Acquires 195 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Newbridge Financial Services Group Inc. grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 44.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 631 shares of the cryptocurrency exchange’s stock after buying an additional 195 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Coinbase Global were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of COIN. Kestra Private Wealth Services LLC grew its stake in Coinbase Global by 35.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 18,552 shares of the cryptocurrency exchange’s stock valued at $4,606,000 after acquiring an additional 4,829 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of Coinbase Global during the fourth quarter valued at about $261,000. Rede Wealth LLC increased its holdings in shares of Coinbase Global by 2.0% in the fourth quarter. Rede Wealth LLC now owns 7,977 shares of the cryptocurrency exchange’s stock worth $1,981,000 after purchasing an additional 158 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Coinbase Global by 31.5% in the fourth quarter. Empowered Funds LLC now owns 6,820 shares of the cryptocurrency exchange’s stock worth $1,693,000 after buying an additional 1,635 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Coinbase Global by 15.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 1,930 shares of the cryptocurrency exchange’s stock valued at $479,000 after buying an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 1.5 %

COIN stock opened at $274.49 on Monday. Coinbase Global, Inc. has a 12 month low of $125.81 and a 12 month high of $349.75. The firm’s 50-day moving average is $285.22 and its 200 day moving average is $236.69. 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 debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the transaction, the insider now owns 69,407 shares of the company’s stock, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Armstrong sold 58,269 shares of Coinbase Global stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 361,798 shares of company stock worth $107,826,444 in the last three months. Corporate insiders own 23.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group reduced their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC decreased their price target on shares of Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday. Canaccord Genuity Group reiterated a “buy” rating and set a $280.00 price objective on shares of Coinbase Global in a research report on Thursday, October 31st. B. Riley initiated coverage on shares of Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Finally, Keefe, Bruyette & Woods lowered 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 report on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $284.06.

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.