Diversified Trust Co Acquires 7,459 Shares of Coinbase Global, Inc. $COIN

Diversified Trust Co grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 388.3% during the first quarter, Holdings Channel.com reports. The firm owned 9,380 shares of the cryptocurrency exchange’s stock after acquiring an additional 7,459 shares during the quarter. Diversified Trust Co’s holdings in Coinbase Global were worth $1,638,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MV Capital Management Inc. bought a new position in Coinbase Global in the fourth quarter valued at $27,000. Palisade Asset Management LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at $29,000. Osbon Capital Management LLC bought a new stake in Coinbase Global during the 4th quarter worth about $30,000. Brooklands Fund Management Ltd bought a new stake in Coinbase Global during the 4th quarter worth about $34,000. Finally, Foster Dykema Cabot & Partners LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth about $35,000. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the transaction, the chief financial officer owned 377,201 shares of the company’s stock, valued at $75,440,200. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $181.54, for a total value of $1,815,400.00. Following the completion of the sale, the director owned 30,000 shares in the company, valued at $5,446,200. This represents a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,647 shares of company stock valued at $5,740,941 in the last three months. Corporate insiders own 16.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. HC Wainwright decreased their price objective on Coinbase Global from $350.00 to $310.00 and set a “buy” rating for the company in a report on Friday, May 8th. President Capital upped their target price on Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. KeyCorp reissued a “sector weight” rating on shares of Coinbase Global in a research report on Wednesday, June 17th. BTIG Research reissued a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, China Renaissance decreased their price target on Coinbase Global from $301.50 to $223.20 and set a “buy” rating for the company in a research note on Monday, February 23rd. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $250.65.

Coinbase Global Stock Performance

Shares of COIN stock opened at $164.84 on Tuesday. The company has a fifty day moving average price of $184.20 and a two-hundred day moving average price of $199.80. Coinbase Global, Inc. has a one year low of $139.36 and a one year high of $444.64. The stock has a market cap of $43.43 billion, a P/E ratio of 61.97, a P/E/G ratio of 5.76 and a beta of 3.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The firm’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. As a group, equities analysts predict that Coinbase Global, Inc. will post 1.74 EPS for the current year.

Coinbase Global Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.