Avion Wealth Decreases Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Avion Wealth lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 420 shares of the cryptocurrency exchange’s stock after selling 44 shares during the period. Avion Wealth’s holdings in Coinbase Global were worth $104,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of 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 worth $609,789,000 after buying an additional 314,388 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after acquiring an additional 71,398 shares during the period. Clear Street Derivatives LLC purchased a new position in Coinbase Global in the third quarter valued at about $409,919,000. Charles Schwab Investment Management Inc. grew its position in shares of Coinbase Global by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after acquiring an additional 52,856 shares during the period. Finally, Ribbit Management Company LLC increased its stake in shares of Coinbase Global by 4.7% during the 3rd quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock worth $70,217,000 after purchasing an additional 17,650 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on COIN. Bank of America boosted their target price on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. 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 report on Friday, January 10th. HC Wainwright increased their target price on shares of Coinbase Global from $255.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler boosted their price target on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and upped their price target for the company from $250.00 to $290.00 in a research note on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $286.00.

Coinbase Global Stock Performance

Coinbase Global stock opened at $266.90 on Wednesday. Coinbase Global, Inc. has a fifty-two week low of $137.13 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $66.82 billion, a P/E ratio of 45.55 and a beta of 3.61. The firm’s fifty day moving average price is $283.93 and its 200-day moving average price is $237.20.

Insider Activity at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $325.14, for a total value of $2,475,615.96. Following the completion of the sale, the director now directly owns 10,417 shares of the company’s stock, valued at $3,386,983.38. The trade was a 42.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 58,269 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 361,798 shares of company stock valued at $107,826,444 over the last 90 days. 23.43% of the stock is owned by insiders.

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.