Chicago Partners Investment Group LLC Purchases New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Chicago Partners Investment Group LLC purchased a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,156 shares of the cryptocurrency exchange’s stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in 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 valued at $609,789,000 after buying an additional 314,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Coinbase Global by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after buying an additional 71,398 shares during the last quarter. Clear Street Derivatives LLC bought a new position in Coinbase Global during the third quarter valued at approximately $409,919,000. Charles Schwab Investment Management Inc. boosted its stake in Coinbase Global by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after buying an additional 52,856 shares during the last quarter. Finally, Ribbit Management Company LLC boosted its stake in Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after buying an additional 17,650 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the transaction, the insider now directly owns 79,407 shares in the company, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $254.89, for a total value of $2,548,900.00. Following the transaction, the director now owns 90,000 shares in the company, valued at $22,940,100. The trade was a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,570 shares of company stock worth $111,328,987 in the last ninety days. 23.43% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research reports. Oppenheimer dropped their price target on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. HC Wainwright reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Coinbase Global in a research note on Tuesday, October 29th. B. Riley initiated coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price objective for the company. Needham & Company LLC raised their price objective on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $289.06.

Coinbase Global Trading Down 1.4 %

COIN opened at $280.39 on Wednesday. The stock’s fifty day moving average is $287.18 and its two-hundred day moving average is $236.32. The company has a market capitalization of $70.20 billion, a P/E ratio of 47.85 and a beta of 3.61. Coinbase Global, Inc. has a 52 week low of $114.51 and a 52 week high of $349.75. 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 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.