Nwam LLC Invests $450,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Nwam LLC bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,291 shares of the cryptocurrency exchange’s stock, valued at approximately $450,000.

A number of other institutional investors have also made changes to their positions in COIN. Fairfield Bush & CO. increased its holdings in shares of Coinbase Global by 18.4% in the first quarter. Fairfield Bush & CO. now owns 1,770 shares of the cryptocurrency exchange’s stock valued at $336,000 after purchasing an additional 275 shares in the last quarter. United Bank acquired a new stake in shares of Coinbase Global in the 1st quarter valued at $286,000. Bank of New York Mellon Corp raised its position in shares of Coinbase Global by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 70,553 shares of the cryptocurrency exchange’s stock worth $13,394,000 after acquiring an additional 1,844 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Coinbase Global by 269.2% during the first quarter. American Century Companies Inc. now owns 7,147 shares of the cryptocurrency exchange’s stock valued at $1,357,000 after acquiring an additional 5,211 shares during the period. Finally, Synovus Financial Corp boosted its holdings in Coinbase Global by 26.6% in the first quarter. Synovus Financial Corp now owns 1,103 shares of the cryptocurrency exchange’s stock valued at $209,000 after acquiring an additional 232 shares during the last quarter. 45.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $120.00 target price on shares of Coinbase Global in a research report on Thursday, August 17th. JMP Securities reiterated a “market outperform” rating and set a $107.00 target price on shares of Coinbase Global in a research report on Thursday, August 17th. Barclays reduced their price target on Coinbase Global from $70.00 to $68.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 10th. Canaccord Genuity Group upped their price objective on Coinbase Global from $70.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Finally, The Goldman Sachs Group raised their target price on Coinbase Global from $45.00 to $51.00 and gave the stock a “sell” rating in a report on Friday, August 4th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $75.64.

Insider Buying and Selling

In other Coinbase Global news, insider Paul Grewal sold 2,402 shares of Coinbase Global stock in a transaction on Friday, August 25th. The shares were sold at an average price of $74.07, for a total value of $177,916.14. Following the sale, the insider now directly owns 64,067 shares in the company, valued at approximately $4,745,442.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul Grewal sold 2,402 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $74.07, for a total transaction of $177,916.14. Following the sale, the insider now owns 64,067 shares in the company, valued at approximately $4,745,442.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gokul Rajaram sold 1,145 shares of the stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $74.34, for a total value of $85,119.30. Following the completion of the sale, the director now directly owns 10,558 shares of the company’s stock, valued at approximately $784,881.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,612 shares of company stock worth $2,712,958. 33.16% of the stock is owned by insiders.

Coinbase Global Price Performance

Shares of COIN opened at $99.05 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a twelve month low of $31.55 and a twelve month high of $114.43. The stock has a market capitalization of $23.70 billion, a P/E ratio of -30.67 and a beta of 2.65. The company has a 50 day moving average of $79.93 and a 200-day moving average of $75.62.

Coinbase Global Company Profile

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