DAVENPORT & Co LLC Buys 382 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

DAVENPORT & Co LLC increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 15.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,892 shares of the cryptocurrency exchange’s stock after acquiring an additional 382 shares during the quarter. DAVENPORT & Co LLC’s holdings in Coinbase Global were worth $718,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Coinbase Global during the fourth quarter valued at about $1,149,000. Western Financial Corp CA bought a new stake in Coinbase Global in the 4th quarter valued at about $459,000. Chicago Partners Investment Group LLC acquired a new position in Coinbase Global during the 4th quarter worth approximately $301,000. Waldron Private Wealth LLC boosted its holdings in Coinbase Global by 6.5% in the fourth quarter. Waldron Private Wealth LLC now owns 2,557 shares of the cryptocurrency exchange’s stock worth $635,000 after acquiring an additional 155 shares in the last quarter. Finally, Caprock Group LLC grew its stake in Coinbase Global by 3.9% in the fourth quarter. Caprock Group LLC now owns 17,157 shares of the cryptocurrency exchange’s stock valued at $4,260,000 after acquiring an additional 644 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Stock Performance

Shares of COIN opened at $270.37 on Friday. The company has a 50-day simple moving average of $285.66 and a two-hundred day simple moving average of $236.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $67.69 billion, a PE ratio of 46.14 and a beta of 3.61. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Barclays lifted their target price on Coinbase Global from $204.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler increased their price target on Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Bank of America lifted their price objective 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. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $289.06.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $270.99, for a total transaction of $6,774,750.00. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at $142,540.74. The trade was a 97.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 15,228 shares of Coinbase Global stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total transaction of $4,271,606.28. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 401,798 shares of company stock valued at $119,826,444. Insiders own 23.43% of the company’s stock.

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.