Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Clarity Capital Partners LLC

Clarity Capital Partners LLC grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,840 shares of the cryptocurrency exchange’s stock after acquiring an additional 159 shares during the quarter. Coinbase Global accounts for approximately 2.2% of Clarity Capital Partners LLC’s holdings, making the stock its 13th largest holding. Clarity Capital Partners LLC’s holdings in Coinbase Global were worth $4,181,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $409,919,000. Geode Capital Management LLC lifted its holdings in shares of 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 worth $609,789,000 after purchasing an additional 314,388 shares during the period. Azora Capital LP lifted its holdings in shares of Coinbase Global by 214.1% during the third quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after purchasing an additional 220,078 shares during the period. Holocene Advisors LP acquired a new stake in shares of Coinbase Global during the third quarter worth about $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global during the third quarter worth about $29,756,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Up 3.0 %

Coinbase Global stock opened at $274.90 on Thursday. The stock has a market capitalization of $68.82 billion, a PE ratio of 46.91 and a beta of 3.61. Coinbase Global, Inc. has a 12 month low of $137.13 and a 12 month high of $349.75. The business has a 50 day simple moving average of $282.81 and a 200-day simple moving average of $237.46. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

Insider Activity

In related news, CEO Brian Armstrong sold 58,269 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at approximately $172,528. The trade was a 99.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 15,228 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total value of $4,271,606.28. Following the sale, the director now owns 10,417 shares of the company’s stock, valued at $2,922,072.67. The trade was a 59.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 386,798 shares of company stock worth $114,707,944 over the last three months. 23.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

COIN has been the subject of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Barclays lifted their target price on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods decreased their target price on Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a report on Monday, January 13th. HC Wainwright boosted their price target on Coinbase Global from $255.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Mizuho raised Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $250.00 to $290.00 in a report on Wednesday, January 29th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.00.

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.