Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Whittier Trust Co.

Whittier Trust Co. decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,508 shares of the cryptocurrency exchange's stock after selling 5,000 shares during the period. Whittier Trust Co.'s holdings in Coinbase Global were worth $18,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in Coinbase Global by 6.7% during the third quarter. Victory Capital Management Inc. now owns 64,837 shares of the cryptocurrency exchange's stock valued at $11,552,000 after purchasing an additional 4,076 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Coinbase Global by 5.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,962 shares of the cryptocurrency exchange's stock valued at $1,240,000 after buying an additional 367 shares in the last quarter. Empowered Funds LLC lifted its stake in Coinbase Global by 0.8% in the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange's stock valued at $924,000 after buying an additional 43 shares in the last quarter. Quest Partners LLC boosted its holdings in Coinbase Global by 2,155.2% in the 3rd quarter. Quest Partners LLC now owns 6,698 shares of the cryptocurrency exchange's stock worth $1,193,000 after buying an additional 6,401 shares during the last quarter. Finally, Caprock Group LLC increased its stake in Coinbase Global by 43.0% during the 3rd quarter. Caprock Group LLC now owns 16,513 shares of the cryptocurrency exchange's stock worth $2,942,000 after buying an additional 4,965 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

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Coinbase Global Trading Up 6.9 %

Shares of Coinbase Global stock traded up $13.18 during trading hours on Monday, hitting $203.04. The company's stock had a trading volume of 9,458,351 shares, compared to its average volume of 9,666,954. The stock has a market cap of $51.55 billion, a price-to-earnings ratio of 21.37 and a beta of 3.66. 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, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The firm has a fifty day moving average of $246.30 and a 200-day moving average of $241.82.

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

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 69,407 shares of the company's stock, valued at approximately $17,816,082.83. This represents a 12.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the transaction, the chief executive officer now owns 526 shares of the company's stock, valued at $137,322.82. This trade represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,034 shares of company stock worth $57,835,408. 23.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COIN shares. Keefe, Bruyette & Woods raised their target price on Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research note on Thursday. They set a "neutral" rating and a $195.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $350.00 target price on shares of Coinbase Global in a research report on Friday, February 21st. Bank of America decreased their price target on shares of Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Finally, Monness Crespi & Hardt set a $420.00 price objective on shares of Coinbase Global in a research note on Tuesday, February 18th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $314.72.

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.