Soltis Investment Advisors LLC Buys New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Soltis Investment Advisors LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel.com reports. The firm bought 5,745 shares of the cryptocurrency exchange’s stock, valued at approximately $1,426,000.

Several other large investors have also recently made changes to their positions in COIN. CWM LLC lifted its stake in shares of Coinbase Global by 4.4% in the 3rd quarter. CWM LLC now owns 6,039 shares of the cryptocurrency exchange’s stock valued at $1,076,000 after purchasing an additional 253 shares during the period. Inspire Investing LLC lifted its stake in shares of Coinbase Global by 33.2% in the 3rd quarter. Inspire Investing LLC now owns 1,587 shares of the cryptocurrency exchange’s stock valued at $283,000 after purchasing an additional 396 shares during the period. Carnegie Investment Counsel increased its holdings in Coinbase Global by 4.8% in the 3rd quarter. Carnegie Investment Counsel now owns 38,595 shares of the cryptocurrency exchange’s stock worth $6,876,000 after acquiring an additional 1,757 shares in the last quarter. Compagnie Lombard Odier SCmA increased its holdings in Coinbase Global by 128.2% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 3,035 shares of the cryptocurrency exchange’s stock worth $541,000 after acquiring an additional 1,705 shares in the last quarter. Finally, Patriot Investment Management Group Inc. purchased a new stake in Coinbase Global in the 3rd quarter worth $1,693,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COIN has been the subject of several recent analyst reports. Oppenheimer cut their price target on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Needham & Company LLC cut their price target on shares of Coinbase Global from $420.00 to $330.00 and set a “buy” rating for the company in a report on Friday. Mizuho raised shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $250.00 to $290.00 in a report on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and issued a $295.00 price target on shares of Coinbase Global in a report on Tuesday, October 29th. Finally, Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.06.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,386,983.38. This represents a 42.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 361,798 shares of company stock valued at $107,826,444 over the last 90 days. 23.43% of the stock is owned by insiders.

Coinbase Global Trading Up 2.1 %

Shares of COIN opened at $280.22 on Tuesday. The firm has a 50-day moving average price of $284.78 and a 200 day moving average price of $237.03. Coinbase Global, Inc. has a 12-month low of $137.13 and a 12-month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $70.15 billion, a P/E ratio of 47.82 and a beta of 3.61.

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.