Stratos Wealth Partners LTD. Boosts Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Stratos Wealth Partners LTD. grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 79.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,242 shares of the cryptocurrency exchange’s stock after buying an additional 7,648 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Coinbase Global were worth $4,281,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in Coinbase Global in the 3rd quarter valued at $25,000. ORG Wealth Partners LLC purchased a new position in shares of Coinbase Global in the third quarter worth about $32,000. MassMutual Private Wealth & Trust FSB boosted its position in Coinbase Global by 365.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock worth $34,000 after acquiring an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake 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 in the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at about $55,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $250.00 to $290.00 in a report on Wednesday, January 29th. Barclays upped their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Piper Sandler lifted their price target on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Bank of America upped their price objective on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC lifted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $289.06.

Insider Transactions at Coinbase Global

In related news, Director Frederick R. Wilson sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $300.00, for a total value of $12,000,000.00. Following the sale, the director now owns 50,000 shares of the company’s stock, valued at $15,000,000. This trade represents a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $172,528. This trade represents a 99.11 % 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 valued at $119,826,444. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

Coinbase Global stock opened at $270.37 on Friday. The company’s 50 day moving average is $285.66 and its two-hundred day moving average is $236.83. The firm has a market cap of $67.69 billion, a PE ratio of 46.14 and a beta of 3.61. 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 52-week low of $114.51 and a 52-week high of $349.75.

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.