Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 5.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,829 shares of the cryptocurrency exchange’s stock after selling 1,389 shares during the period. Cresset Asset Management LLC’s holdings in Coinbase Global were worth $4,335,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Coinbase Global in the fourth quarter worth about $25,000. Wagner Wealth Management LLC acquired a new stake in shares of Coinbase Global during the fourth quarter worth approximately $27,000. Cornerstone Advisory LLC acquired a new stake in shares of Coinbase Global during the fourth quarter worth approximately $27,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Coinbase Global during the first quarter worth approximately $28,000. Finally, WD Rutherford LLC acquired a new stake in shares of Coinbase Global during the first quarter worth approximately $28,000. Institutional investors and hedge funds own 49.31% of the company’s stock.

Insider Activity

In other news, CAO Jennifer N. Jones sold 4,512 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $97.24, for a total value of $438,746.88. Following the sale, the chief accounting officer now owns 27,417 shares in the company, valued at approximately $2,666,029.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Jennifer N. Jones sold 4,512 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $97.24, for a total value of $438,746.88. Following the sale, the chief accounting officer now owns 27,417 shares in the company, valued at approximately $2,666,029.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tobias Lutke bought 3,930 shares of Coinbase Global stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $97.24 per share, for a total transaction of $382,153.20. Following the purchase, the director now directly owns 29,430 shares in the company, valued at approximately $2,861,773.20. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 24,601 shares of company stock worth $1,863,254. Corporate insiders own 36.10% of the company’s stock.

Coinbase Global Stock Up 10.7 %

COIN opened at $80.87 on Friday. Coinbase Global, Inc. has a fifty-two week low of $40.83 and a fifty-two week high of $368.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s fifty day moving average price is $69.93 and its two-hundred day moving average price is $101.98. The company has a market capitalization of $17.75 billion, a P/E ratio of -40.03 and a beta of 3.31.

Analyst Ratings Changes

Several brokerages recently weighed in on COIN. Barclays cut their price objective on shares of Coinbase Global from $80.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Atlantic Securities raised their price objective on shares of Coinbase Global from $54.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, September 6th. Cowen began coverage on shares of Coinbase Global in a research report on Thursday, May 26th. They set an “outperform” rating and a $85.00 price objective on the stock. Citigroup cut their price objective on shares of Coinbase Global from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Finally, The Goldman Sachs Group raised their price objective on shares of Coinbase Global from $45.00 to $51.00 and gave the company a “sell” rating in a research report on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and an average target price of $163.50.

About Coinbase Global

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Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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