CENTRAL TRUST Co Purchases 190 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

CENTRAL TRUST Co raised its position in Coinbase Global, Inc. (NASDAQ:COIN) by 41.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 650 shares of the cryptocurrency exchange’s stock after buying an additional 190 shares during the quarter. CENTRAL TRUST Co’s holdings in Coinbase Global were worth $172,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in COIN. Barrett & Company Inc. purchased a new position in shares of Coinbase Global in the fourth quarter valued at $26,000. Creekmur Asset Management LLC purchased a new position in Coinbase Global during the 4th quarter valued at about $27,000. Mather Group LLC. bought a new stake in shares of Coinbase Global during the first quarter valued at about $32,000. AlphaMark Advisors LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth about $33,000. Finally, Signature Resources Capital Management LLC bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In related news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total value of $23,105,896.80. Following the transaction, the director now directly owns 4,662 shares of the company’s stock, valued at approximately $943,122.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Frederick Ernest Ehrsam III sold 114,216 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $202.30, for a total transaction of $23,105,896.80. Following the completion of the transaction, the director now owns 4,662 shares in the company, valued at $943,122.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul Grewal sold 10,257 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $275.60, for a total value of $2,826,829.20. Following the transaction, the insider now directly owns 66,122 shares of the company’s stock, valued at $18,223,223.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 470,563 shares of company stock worth $104,873,137. Company insiders own 33.16% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of a number of research analyst reports. Canaccord Genuity Group upped their target price on Coinbase Global from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Wedbush upped their price objective on shares of Coinbase Global from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Piper Sandler lifted their price objective on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Raymond James raised shares of Coinbase Global from an “underperform” rating to a “market perform” rating in a research report on Tuesday, March 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Coinbase Global in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $214.67.

Coinbase Global Stock Performance

COIN traded up $5.73 during trading on Wednesday, hitting $231.51. The company’s stock had a trading volume of 8,905,730 shares, compared to its average volume of 12,678,230. Coinbase Global, Inc. has a one year low of $46.43 and a one year high of $283.48. The business’s 50 day simple moving average is $232.90 and its 200-day simple moving average is $178.81. The firm has a market cap of $56.85 billion, a PE ratio of 46.21 and a beta of 3.46. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.52.

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.