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

Blue Trust Inc. lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 16.2% in the 4th quarter, HoldingsChannel reports. The fund owned 6,285 shares of the cryptocurrency exchange’s stock after selling 1,218 shares during the period. Blue Trust Inc.’s holdings in Coinbase Global were worth $1,561,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter worth $25,000. ORG Wealth Partners LLC purchased a new stake in Coinbase Global during the 3rd quarter worth about $32,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Coinbase Global by 365.5% during 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. boosted its position in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 204 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of Coinbase Global in the 3rd quarter valued at about $55,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Coinbase Global stock opened at $277.68 on Tuesday. The company has a market cap of $69.52 billion, a P/E ratio of 47.39 and a beta of 3.59. Coinbase Global, Inc. has a one year low of $114.51 and a one year high of $349.75. The business has a fifty day moving average of $289.59 and a two-hundred day moving average of $234.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, analysts predict that Coinbase Global, Inc. will post 4.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $328.00, for a total value of $19,112,232.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $172,528. This represents a 99.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 7,104 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $307.80, for a total transaction of $2,186,611.20. Following the transaction, the insider now owns 79,407 shares of the company’s stock, valued at $24,441,474.60. This trade represents a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 367,489 shares of company stock worth $109,624,297 in the last quarter. Company insiders own 23.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COIN. B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 target price for the company. Piper Sandler upped their target price on shares of Coinbase Global from $245.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and set a $320.00 price target on shares of Coinbase Global in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods decreased their price objective on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, Barclays raised their price objective on Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $282.83.

Coinbase Global Profile

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.