Whittier Trust Co. of Nevada Inc. Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Whittier Trust Co. of Nevada Inc. increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 90.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,225 shares of the cryptocurrency exchange's stock after purchasing an additional 1,533 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in Coinbase Global were worth $555,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Coinbase Global in the fourth quarter valued at about $536,484,000. Groupama Asset Managment acquired a new position in Coinbase Global in the fourth quarter valued at approximately $372,450,000. Two Sigma Advisers LP lifted its holdings in Coinbase Global by 445.4% in the fourth quarter. Two Sigma Advisers LP now owns 408,500 shares of the cryptocurrency exchange's stock valued at $101,431,000 after buying an additional 333,600 shares during the period. Wellington Management Group LLP lifted its holdings in Coinbase Global by 1,159.9% in the fourth quarter. Wellington Management Group LLP now owns 328,684 shares of the cryptocurrency exchange's stock valued at $81,612,000 after buying an additional 302,595 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Coinbase Global by 614.8% in the fourth quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange's stock worth $85,253,000 after purchasing an additional 295,313 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on COIN shares. Compass Point raised shares of Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 target price for the company in a research report on Monday, May 12th. Piper Sandler raised their target price on shares of Coinbase Global from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Needham & Company LLC dropped their price objective on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Benchmark lifted their price objective on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Barclays boosted their target price on shares of Coinbase Global from $202.00 to $359.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $313.10.

Coinbase Global Price Performance

Shares of COIN stock traded up $12.55 during trading hours on Thursday, reaching $410.75. The stock had a trading volume of 16,730,775 shares, compared to its average volume of 11,004,714. The stock's fifty day simple moving average is $293.80 and its 200 day simple moving average is $249.03. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $417.73. The firm has a market capitalization of $104.28 billion, a PE ratio of 56.72, a PEG ratio of 30.30 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the business posted $2.53 earnings per share. Coinbase Global's revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $360.20, for a total value of $1,080,600.00. Following the sale, the chief financial officer directly owned 97,366 shares of the company's stock, valued at $35,071,233.20. This trade represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul Grewal sold 10,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 82,328 shares in the company, valued at $28,702,833.92. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 864,109 shares of company stock valued at $295,681,757 over the last three months. 17.65% of the stock is owned by corporate insiders.

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.