Joel Isaacson & Co. LLC Decreases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Joel Isaacson & Co. LLC lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 15.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,653 shares of the cryptocurrency exchange’s stock after selling 1,025 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Coinbase Global were worth $1,404,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its holdings in Coinbase Global by 365.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 106 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the third quarter valued at about $25,000. ORG Wealth Partners LLC bought a new position in shares of Coinbase Global during the third quarter valued at about $32,000. Spirit of America Management Corp NY boosted its holdings in shares of Coinbase Global by 66.7% during the fourth quarter. Spirit of America Management Corp NY now owns 250 shares of the cryptocurrency exchange’s stock worth $62,000 after purchasing an additional 100 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Trading Up 1.5 %

Coinbase Global stock opened at $274.49 on Friday. Coinbase Global, Inc. has a 12 month low of $125.81 and a 12 month high of $349.75. The company has a market capitalization of $68.72 billion, a price-to-earnings ratio of 46.84 and a beta of 3.61. The business’s fifty day simple moving average is $285.22 and its two-hundred day simple moving average is $236.89. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Analysts Set New Price Targets

A number of research firms have commented on COIN. Bank of America upped their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. The Goldman Sachs Group decreased their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $250.00 to $290.00 in a report on Wednesday, January 29th. Barclays upped their price objective on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, Monness Crespi & Hardt lifted their target price on shares of Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $284.06.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 15,228 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $280.51, for a total value of $4,271,606.28. Following the transaction, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $2,922,072.67. This represents a 59.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 5,700 shares of Coinbase Global stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 401,798 shares of company stock valued at $119,826,444 in the last quarter. 23.43% of the stock is owned by insiders.

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.