Diversified Trust Co Buys 7,459 Shares of Coinbase Global, Inc. $COIN

Key Points

• Diversified Trust Co increased its Coinbase stake by 388.3% in Q1, buying 7,459 additional shares to own 9,380 shares worth about $1.64 million.
• Coinbase reported a miss on Q1 earnings, posting EPS of -$1.49 versus the $0.06 estimate, while revenue came in at $1.41 billion, below expectations and down 30.5% from a year earlier.
• Wall Street remains mixed on the stock: analysts currently rate Coinbase a “Hold” on average, with a consensus price target of $250.65, even as some firms keep buy ratings.

Diversified Trust Co raised its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 388.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,380 shares of the cryptocurrency exchange's stock after buying an additional 7,459 shares during the quarter. Diversified Trust Co's holdings in Coinbase Global were worth $1,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. Integrated Wealth Concepts LLC raised its position in shares of Coinbase Global by 24.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange's stock valued at $365,000 after acquiring an additional 413 shares during the period. Empowered Funds LLC grew its holdings in Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange's stock valued at $1,478,000 after purchasing an additional 1,761 shares during the period. Focus Partners Wealth grew its holdings in Coinbase Global by 9.9% during the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange's stock valued at $896,000 after purchasing an additional 467 shares during the period. Sivia Capital Partners LLC bought a new stake in Coinbase Global in the second quarter valued at approximately $285,000. Finally, Cerity Partners LLC increased its stake in Coinbase Global by 8.6% in the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange's stock valued at $6,203,000 after purchasing an additional 1,402 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $164.84 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64. The company's 50 day moving average price is $184.20 and its two-hundred day moving average price is $199.80. The company has a market capitalization of $43.43 billion, a P/E ratio of 61.97, a price-to-earnings-growth ratio of 5.76 and a beta of 3.32.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $0.24 EPS. The firm's quarterly revenue was down 30.5% compared to the same quarter last year. On average, analysts expect that Coinbase Global, Inc. will post 1.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. China Renaissance reduced their price target on shares of Coinbase Global from $301.50 to $223.20 and set a "buy" rating on the stock in a research report on Monday, February 23rd. JPMorgan Chase & Co. upped their price objective on shares of Coinbase Global from $252.00 to $290.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Weiss Ratings raised Coinbase Global from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. HC Wainwright reduced their target price on Coinbase Global from $350.00 to $310.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Finally, Mizuho lifted their target price on Coinbase Global from $170.00 to $200.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Coinbase Global presently has an average rating of "Hold" and a consensus target price of $250.65.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the sale, the chief financial officer directly owned 377,201 shares in the company, valued at $75,440,200. This represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,647 shares of company stock worth $5,740,941 in the last ninety days. 16.66% of the stock is owned by insiders.

Coinbase Global Profile

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase's product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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