Central Pacific Bank Trust Division Invests $91,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Central Pacific Bank Trust Division bought a new position in Coinbase Global, Inc. (NASDAQ:COINFree Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 360 shares of the cryptocurrency exchange’s stock, valued at approximately $91,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in COIN. Morgan Stanley lifted its holdings in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock worth $246,250,000 after acquiring an additional 511,397 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in Coinbase Global by 28.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 5,679 shares of the cryptocurrency exchange’s stock valued at $426,000 after buying an additional 1,266 shares during the last quarter. Wellington Management Group LLP raised its holdings in Coinbase Global by 31.8% in the 3rd quarter. Wellington Management Group LLP now owns 50,925 shares of the cryptocurrency exchange’s stock valued at $3,823,000 after buying an additional 12,301 shares during the last quarter. Vanguard Group Inc. raised its holdings in Coinbase Global by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock valued at $1,041,602,000 after buying an additional 176,525 shares during the last quarter. Finally, Symmetry Partners LLC bought a new position in Coinbase Global in the 4th quarter valued at approximately $224,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $219.56 on Thursday. The company has a market cap of $53.92 billion, a price-to-earnings ratio of 43.82 and a beta of 3.40. Coinbase Global, Inc. has a 52 week low of $69.63 and a 52 week high of $283.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $228.01 and a 200-day moving average of $205.49.

Coinbase Global (NASDAQ:COINGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 EPS for the quarter, topping the consensus estimate of $1.04 by $0.61. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.26 billion. On average, equities analysts forecast that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Insider Activity at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $221.47, for a total value of $2,214,700.00. Following the completion of the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $14,644,039.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total transaction of $2,214,700.00. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $14,644,039.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $238.26, for a total value of $5,497,849.50. Following the transaction, the chief executive officer now owns 526 shares in the company, valued at $125,324.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 314,136 shares of company stock valued at $68,855,464. 23.43% of the stock is owned by company insiders.

Analyst Ratings Changes

COIN has been the subject of a number of research reports. Canaccord Genuity Group raised their price objective on shares of Coinbase Global from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Mizuho raised their price objective on shares of Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a report on Friday, April 12th. HC Wainwright restated a “buy” rating and set a $315.00 price target on shares of Coinbase Global in a report on Tuesday, June 18th. Oppenheimer raised their price target on shares of Coinbase Global from $276.00 to $282.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $215.06.

Read Our Latest Analysis on COIN

About Coinbase Global

(Free Report)

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.

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Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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