Rockline Wealth Management LLC Has $346,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Rockline Wealth Management LLC lessened its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 24.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,392 shares of the cryptocurrency exchange’s stock after selling 460 shares during the period. Rockline Wealth Management LLC’s holdings in Coinbase Global were worth $346,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Banco Santander S.A. grew its holdings in shares of Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock valued at $26,531,000 after buying an additional 16,737 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Coinbase Global by 135.1% in the third quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after acquiring an additional 1,540 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Coinbase Global during the third quarter worth about $29,756,000. Lindbrook Capital LLC lifted its holdings in shares of Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock valued at $5,347,000 after purchasing an additional 6,963 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Coinbase Global in the 2nd quarter valued at approximately $2,908,000. Institutional investors own 68.84% of the company’s stock.

Insider Transactions at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 10,216 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $310.14, for a total value of $3,168,390.24. Following the completion of the transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,230,728.38. The trade was a 49.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 58,269 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $172,528. This represents a 99.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 376,205 shares of company stock valued at $112,487,737. 23.43% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COIN. Piper Sandler raised their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their price objective on shares of Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. B. Riley assumed coverage on Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Finally, Needham & Company LLC increased their price target on Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $289.06.

Coinbase Global Price Performance

Shares of COIN opened at $284.41 on Tuesday. Coinbase Global, Inc. has a fifty-two week low of $114.51 and a fifty-two week high of $349.75. The firm has a market capitalization of $71.20 billion, a PE ratio of 48.53 and a beta of 3.61. The company’s 50-day moving average is $287.44 and its 200-day moving average is $236.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03.

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.