Institutional Investors Boost Stakes in Coinbase Amid Mixed Quarter

Readystate Asset Management LP has acquired a new stake in Coinbase Global, Inc. (NASDAQ: COIN), purchasing approximately 17,697 shares valued at $2,587,000.

This is not an isolated move, as various institutional investors and hedge funds have been buying into or increasing their stakes in COIN throughout the past few quarters.

Geode Capital Management LLC has lifted its holdings by 3.2% during the fourth quarter, with Paradigm Operations LP growing its stake by 3.3% over the same period.

The company's stock opened at $184.64 on Monday, with a market cap of $48.72 billion and a P/E ratio of -48.08.