Bordeaux Wealth Advisors LLC acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) during Q1 2024, per its SEC filing. The investment totaled 1,387 shares (~$239,000), reflecting confidence in the leading cryptocurrency exchange.
Institutional Investment Trends
- Jeppson Wealth Management LLC: Increased holdings by 17.8%, now owning 1,697 shares (~$292,000).
- Crescent Grove Advisors LLC: Boosted stake by 46.6% to 1,258 shares (~$217,000).
- Mirae Asset Global Investments Co. Ltd.: Expanded shares by 222.7% (86,233 shares worth ~$14.9M).
- Transcend Capital Advisors LLC: Grew holdings by 4.6% (4,883 shares valued at ~$841,000).
- Diversified Trust Co: Added 60.5% more shares (3,571 shares worth ~$615,000).
👉 Explore institutional crypto trends
Key Insight:
68.84% of COIN shares are held by institutional investors, signaling strong market trust.
Insider Transactions
- CFO Alesia J. Haas: Sold 3,000 shares (~$1.08M) on June 25, retaining 97,366 shares (~$35.1M).
- Director Frederick Ehrsam III: Sold 15,517 shares (~$4.05M) on May 14, reducing holdings by 59.83%.
Total Insider Sales (3 months): 665,915 shares (~$212.7M).
Current Insider Ownership: 23.43%.
Analyst Ratings & Price Targets
- Sanford C. Bernstein: "Outperform," target raised to $510 (from $310).
- Keefe, Bruyette & Woods: "Market perform," target at $205 (from $183).
- Piper Sandler: "Neutral," target $190 (from $180).
- Needham & Company: "Buy," target lowered to $270 (from $330).
- Canaccord Genuity: "Buy," target $400.
Consensus: "Moderate Buy" | Average Target: $291.06.
Market Performance (as of June 2024)
- Stock Price: $335.33 (down 4.3% intraday).
- Trading Volume: 13.1M shares (vs. 10.7M avg).
Key Metrics:
- P/E Ratio: 62.80
- Market Cap: $85.13B
- 52-Week Range: $142.58–$382.00
👉 Track real-time crypto market data
About Coinbase Global
The company provides financial infrastructure for the crypto economy, serving consumers and institutions worldwide.
FAQ
Q: Why are institutions investing in Coinbase?
A: Growing adoption of crypto assets and Coinbase’s market leadership drive institutional confidence.
Q: What risks do insider sales indicate?
A: While notable, sales may reflect personal portfolio adjustments rather than company performance concerns.
Q: Is Coinbase stock a good long-term buy?
A: Analysts are mixed; consider volatility and sector trends before investing.
Disclaimer: This content is for informational purposes only and not financial advice.