Bank of Jackson Hole Trust Buys New Shares in Coinbase Global, Inc. (NASDAQ:COIN)

Bank of Jackson Hole Trust bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,395 shares of the cryptocurrency exchange's stock, valued at approximately $346,000.

Several other hedge funds have also added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC bought a new position in Coinbase Global in the third quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new position in Coinbase Global in the fourth quarter worth $27,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Coinbase Global by 365.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 135 shares of the cryptocurrency exchange's stock worth $34,000 after buying an additional 106 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock valued at $45,000 after purchasing an additional 204 shares in the last quarter. Finally, Bogart Wealth LLC raised its stake in shares of Coinbase Global by 252.5% in the fourth quarter. Bogart Wealth LLC now owns 208 shares of the cryptocurrency exchange's stock worth $52,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the sale, the insider now directly owns 69,407 shares of the company's stock, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 26,649 shares of Coinbase Global stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $308.14, for a total transaction of $8,211,622.86. Following the completion of the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,209,894.38. The trade was a 71.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 334,306 shares of company stock worth $97,300,651 over the last three months. Insiders own 23.43% of the company's stock.

Coinbase Global Stock Down 8.3 %

Shares of NASDAQ:COIN traded down $21.21 during trading hours on Friday, reaching $235.38. The stock had a trading volume of 17,128,111 shares, compared to its average volume of 8,810,530. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The firm's 50 day moving average is $277.26 and its 200-day moving average is $239.47. The stock has a market capitalization of $58.93 billion, a price-to-earnings ratio of 24.78 and a beta of 3.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. Research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COIN. Keefe, Bruyette & Woods increased their price target on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a "market perform" rating in a research report on Tuesday. Piper Sandler lifted their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. HC Wainwright reiterated a "buy" rating and set a $350.00 target price on shares of Coinbase Global in a research report on Friday. Bank of America increased their price target on Coinbase Global from $196.00 to $214.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, JMP Securities lifted their price objective on Coinbase Global from $400.00 to $475.00 and gave the company a "market outperform" rating in a report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of "Moderate Buy" and a consensus price target of $304.50.

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.