Greenleaf Trust Buys 643 Shares of Coinbase Global, Inc. $COIN

Greenleaf Trust lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 40.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,239 shares of the cryptocurrency exchange’s stock after purchasing an additional 643 shares during the quarter. Greenleaf Trust’s holdings in Coinbase Global were worth $785,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in shares of Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange’s stock worth $8,861,000 after purchasing an additional 9,952 shares in the last quarter. Amalgamated Bank lifted its position in shares of Coinbase Global by 4.8% in the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange’s stock worth $2,368,000 after purchasing an additional 629 shares in the last quarter. Kera Capital Partners Inc. lifted its position in shares of Coinbase Global by 3.0% in the second quarter. Kera Capital Partners Inc. now owns 36,960 shares of the cryptocurrency exchange’s stock worth $12,954,000 after purchasing an additional 1,085 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Coinbase Global by 102.6% in the second quarter. Parallel Advisors LLC now owns 10,665 shares of the cryptocurrency exchange’s stock worth $3,738,000 after purchasing an additional 5,402 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange’s stock worth $193,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $372.07 on Friday. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $444.64. The company has a market cap of $95.60 billion, a P/E ratio of 35.98 and a beta of 3.68. The firm’s fifty day moving average price is $323.85 and its two-hundred day moving average price is $279.47. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.12 and a quick ratio of 2.13.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, July 31st. The cryptocurrency exchange reported $0.12 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.79). Coinbase Global had a net margin of 40.87% and a return on equity of 16.02%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Coinbase Global’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 198,300 shares of the company’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $397.87, for a total value of $78,897,621.00. Following the transaction, the chief executive officer directly owned 526 shares in the company, valued at $209,279.62. The trade was a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Grewal sold 15,439 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $310.80, for a total transaction of $4,798,441.20. Following the completion of the transaction, the insider owned 82,328 shares in the company, valued at approximately $25,587,542.40. This represents a 15.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 714,515 shares of company stock worth $272,046,775. Corporate insiders own 17.65% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their price objective on shares of Coinbase Global from $355.00 to $335.00 and set a “market perform” rating on the stock in a research report on Monday, August 4th. Needham & Company LLC upped their price target on shares of Coinbase Global from $270.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Monness Crespi & Hardt lowered shares of Coinbase Global from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. China Renaissance initiated coverage on shares of Coinbase Global in a research report on Tuesday, June 17th. They set a “buy” rating and a $353.30 price target on the stock. Finally, Bank of America dropped their price target on shares of Coinbase Global from $369.00 to $340.00 in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $359.49.

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.