Diversified Trust Co Purchases 1,346 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Diversified Trust Co boosted its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 60.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,571 shares of the cryptocurrency exchange's stock after acquiring an additional 1,346 shares during the period. Diversified Trust Co's holdings in Coinbase Global were worth $615,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange's stock valued at $239,000 after buying an additional 40 shares during the period. IPG Investment Advisors LLC lifted its stake in shares of Coinbase Global by 2.0% in the 4th quarter. IPG Investment Advisors LLC now owns 2,261 shares of the cryptocurrency exchange's stock valued at $561,000 after acquiring an additional 45 shares during the last quarter. Vivaldi Capital Management LP boosted its holdings in Coinbase Global by 0.3% during the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock valued at $3,437,000 after acquiring an additional 47 shares during the period. MetLife Investment Management LLC grew its position in Coinbase Global by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 11,061 shares of the cryptocurrency exchange's stock worth $2,746,000 after acquiring an additional 55 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake in Coinbase Global by 2.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,630 shares of the cryptocurrency exchange's stock worth $653,000 after purchasing an additional 60 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Performance

NASDAQ COIN traded up $1.13 during trading hours on Thursday, hitting $355.58. The company's stock had a trading volume of 6,701,330 shares, compared to its average volume of 10,757,723. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $382.00. The company's 50 day simple moving average is $259.28 and its two-hundred day simple moving average is $242.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. The company has a market cap of $90.27 billion, a P/E ratio of 66.59, a price-to-earnings-growth ratio of 24.53 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 earnings per share. As a group, sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COIN. Benchmark increased their price objective on Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Rosenblatt Securities reissued a "buy" rating and set a $300.00 price target on shares of Coinbase Global in a research report on Monday, June 16th. Monness Crespi & Hardt upgraded shares of Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 price objective on the stock in a research report on Tuesday, May 13th. Keefe, Bruyette & Woods upped their price objective on shares of Coinbase Global from $183.00 to $205.00 and gave the company a "market perform" rating in a research note on Friday, May 9th. Finally, Cantor Fitzgerald began coverage on Coinbase Global in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 target price on the stock. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $291.06.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the completion of the sale, the insider owned 82,328 shares of the company's stock, valued at $28,702,833.92. This represents a 10.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian Armstrong sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $338.29, for a total transaction of $8,457,250.00. Following the completion of the transaction, the chief executive officer owned 526 shares in the company, valued at $177,940.54. This trade represents a 97.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 685,915 shares of company stock valued at $222,081,432. Company insiders own 17.65% of the company's stock.

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.