Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,463 shares of the cryptocurrency exchange’s stock after buying an additional 150 shares during the period. Ballentine Partners LLC’s holdings in Coinbase Global were worth $860,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global during the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global during the third quarter worth approximately $32,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Coinbase Global by 365.5% in the fourth 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. raised its holdings in Coinbase Global by 408.0% in the third quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 204 shares in the last quarter. Finally, Abich Financial Wealth Management LLC boosted its stake in Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange’s stock valued at $48,000 after acquiring an additional 181 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction on Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the transaction, the insider now directly owns 74,956 shares in the company, valued at approximately $15,739,260.88. This trade represents a 11.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total value of $7,531,746.30. Following the completion of the sale, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. This trade represents a 70.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 377,489 shares of company stock worth $111,724,097. 23.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group reduced their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. B. Riley initiated coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target for the company. Bank of America raised their price objective on Coinbase Global from $196.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $282.83.

Coinbase Global Stock Up 0.6 %

COIN opened at $295.85 on Thursday. The stock’s 50 day moving average price is $290.36 and its 200 day moving average price is $232.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $74.07 billion, a P/E ratio of 50.49 and a beta of 3.59. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75.

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

Coinbase Global Company 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.