Whittier Trust Co. Has $18.50 Million Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Whittier Trust Co. lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,508 shares of the cryptocurrency exchange’s stock after selling 5,000 shares during the quarter. Whittier Trust Co.’s holdings in Coinbase Global were worth $18,500,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. Atala Financial Inc acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings 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 valued at $34,000 after buying an additional 106 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Coinbase Global in the third quarter valued at approximately $25,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Coinbase Global during the fourth quarter worth $50,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Trading Up 4.8 %

COIN opened at $189.75 on Thursday. Coinbase Global, Inc. has a fifty-two week low of $146.12 and a fifty-two week high of $349.75. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a market capitalization of $48.17 billion, a price-to-earnings ratio of 19.97 and a beta of 3.66. The company’s 50 day moving average price is $250.03 and its two-hundred day moving average price is $240.77.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, research analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the transaction, the director now owns 10,417 shares in the company, valued at approximately $2,846,236.91. The trade was a 52.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $256.69, for a total transaction of $2,566,900.00. Following the completion of the transaction, the insider now owns 69,407 shares in the company, valued at $17,816,082.83. This trade represents a 12.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,455 shares of company stock worth $60,955,968. Company insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Coinbase Global in a report on Monday. They set an “outperform” rating and a $310.00 target price for the company. Canaccord Genuity Group increased their target price on shares of Coinbase Global from $280.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Bank of America reduced their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Mizuho reduced their target price on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Rosenblatt Securities began coverage on shares of Coinbase Global in a research note on Friday, March 7th. They issued a “buy” rating and a $305.00 price target for the company. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $322.78.

Coinbase Global 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.