Clarity Capital Partners LLC Raises Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Clarity Capital Partners LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,840 shares of the cryptocurrency exchange’s stock after buying an additional 159 shares during the period. Coinbase Global accounts for approximately 2.2% of Clarity Capital Partners LLC’s investment portfolio, making the stock its 13th largest position. Clarity Capital Partners LLC’s holdings in Coinbase Global were worth $4,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in COIN. Clear Street Derivatives LLC purchased a new stake in Coinbase Global in the 3rd quarter valued at $409,919,000. Geode Capital Management LLC grew its holdings in Coinbase Global by 10.1% in the 3rd 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 in the last quarter. Azora Capital LP grew its holdings in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock valued at $57,525,000 after buying an additional 220,078 shares in the last quarter. Holocene Advisors LP purchased a new stake in Coinbase Global in the 3rd quarter valued at $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in Coinbase Global in the 3rd quarter valued at $29,756,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $274.90 on Thursday. 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 stock has a market capitalization of $68.82 billion, a price-to-earnings ratio of 46.91 and a beta of 3.61. The business has a 50-day moving average of $282.81 and a 200 day moving average of $237.46. Coinbase Global, Inc. has a 12 month low of $137.13 and a 12 month high of $349.75.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 7,104 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $307.80, for a total value of $2,186,611.20. Following the sale, the insider now owns 79,407 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $275.26, for a total value of $6,881,500.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares in the company, valued at $144,786.76. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 386,798 shares of company stock valued at $114,707,944 in the last quarter. Corporate insiders own 23.43% of the company’s stock.

Analyst Ratings Changes

COIN has been the topic of several recent analyst reports. Monness Crespi & Hardt upped their price target on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Oppenheimer lowered their price target on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Mizuho upgraded Coinbase Global from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $250.00 to $290.00 in a report on Wednesday, January 29th. B. Riley assumed coverage on Coinbase Global in a report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target for the company. Finally, Bank of America increased their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of “Moderate Buy” and a consensus target price 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.