Greenleaf Trust Acquires New Position in Coinbase Global, Inc. (NASDAQ:COIN)

Greenleaf Trust bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,576 shares of the cryptocurrency exchange’s stock, valued at approximately $274,000.

A number of other institutional investors have also modified their holdings of COIN. Arkadios Wealth Advisors purchased a new position in shares of Coinbase Global during the third quarter valued at $248,000. Impact Partnership Wealth LLC grew its holdings in Coinbase Global by 23.4% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,532 shares of the cryptocurrency exchange’s stock worth $115,000 after acquiring an additional 291 shares in the last quarter. Ballentine Partners LLC bought a new position in Coinbase Global during the 3rd quarter worth about $201,000. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in shares of Coinbase Global by 7.0% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 15,891 shares of the cryptocurrency exchange’s stock valued at $1,193,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Golden State Equity Partners bought a new stake in shares of Coinbase Global in the 3rd quarter valued at about $213,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Down 5.1 %

COIN stock opened at $224.37 on Thursday. The stock has a market capitalization of $54.36 billion, a PE ratio of 831.00 and a beta of 3.41. The company has a fifty day moving average of $229.46 and a 200-day moving average of $159.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million during the quarter, compared to analysts’ expectations of $826.10 million. During the same period in the prior year, the company posted ($2.46) earnings per share. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. As a group, analysts expect that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

COIN has been the topic of several research reports. Sanford C. Bernstein lifted their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Barclays lifted their price target on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a report on Monday, April 8th. HC Wainwright upped their price objective on Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. TheStreet raised shares of Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $160.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $165.43.

Insider Activity

In related news, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $190.34, for a total transaction of $8,015,788.42. Following the transaction, the insider now owns 66,122 shares of the company’s stock, valued at $12,585,661.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $131.57, for a total transaction of $12,872,282.52. Following the completion of the sale, the director now directly owns 6,072 shares in the company, valued at approximately $798,893.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul Grewal sold 42,113 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.34, for a total value of $8,015,788.42. Following the sale, the insider now directly owns 66,122 shares in the company, valued at approximately $12,585,661.48. The disclosure for this sale can be found here. Insiders sold 515,828 shares of company stock valued at $95,846,182 in the last three months. 33.16% of the stock is currently owned by company insiders.

About Coinbase Global

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.