Greenleaf Trust Purchases Shares of 1,576 Coinbase Global, Inc. (NASDAQ:COIN)

Greenleaf Trust acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,576 shares of the cryptocurrency exchange’s stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of COIN. Xponance Inc. grew its stake in shares of Coinbase Global by 3.1% in the fourth quarter. Xponance Inc. now owns 6,454 shares of the cryptocurrency exchange’s stock worth $1,122,000 after purchasing an additional 193 shares during the last quarter. Steph & Co. grew its position in shares of Coinbase Global by 100.0% in the 4th quarter. Steph & Co. now owns 300 shares of the cryptocurrency exchange’s stock worth $52,000 after buying an additional 150 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $2,764,000. Macroview Investment Management LLC bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $59,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Coinbase Global by 0.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,344 shares of the cryptocurrency exchange’s stock worth $13,278,000 after acquiring an additional 538 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Shares of COIN opened at $224.37 on Thursday. The company has a market cap of $54.36 billion, a price-to-earnings ratio of 831.00 and a beta of 3.41. The business’s fifty day simple moving average is $229.46 and its two-hundred day simple moving average is $159.37. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, beating the consensus estimate of ($0.09) by $1.13. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. During the same period last year, the firm posted ($2.46) earnings per share. Coinbase Global’s revenue was up 51.6% compared to the same quarter last year. Research analysts anticipate that Coinbase Global, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Sanford C. Bernstein boosted their price objective on shares of Coinbase Global from $80.00 to $200.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Mizuho increased their price target on shares of Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. lifted their price objective on Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a research report on Friday, February 16th. Finally, Barclays raised their target price on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and an average target price of $165.43.

Insider Activity

In other news, CFO Alesia J. Haas sold 64,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $228.45, for a total transaction of $14,620,800.00. Following the completion of the transaction, the chief financial officer now directly owns 219,490 shares of the company’s stock, valued at $50,142,490.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Alesia J. Haas sold 64,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $228.45, for a total value of $14,620,800.00. Following the transaction, the chief financial officer now directly owns 219,490 shares in the company, valued at approximately $50,142,490.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul Grewal sold 42,113 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $190.34, for a total value of $8,015,788.42. Following the sale, the insider now owns 66,122 shares of the company’s stock, valued at approximately $12,585,661.48. The disclosure for this sale can be found here. Insiders have sold a total of 515,828 shares of company stock valued at $95,846,182 in the last 90 days. 33.16% of the stock is currently owned by 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.