Indiana Trust & Investment Management CO Lowers Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Indiana Trust & Investment Management CO lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 24.4% during the first quarter, HoldingsChannel reports. The firm owned 465 shares of the cryptocurrency exchange’s stock after selling 150 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Coinbase Global were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Salem Investment Counselors Inc. grew its position in shares of Coinbase Global by 162.9% in the first quarter. Salem Investment Counselors Inc. now owns 184 shares of the cryptocurrency exchange’s stock valued at $49,000 after purchasing an additional 114 shares during the last quarter. Paragon Capital Management Ltd increased its position in Coinbase Global by 58.6% during the first quarter. Paragon Capital Management Ltd now owns 231,660 shares of the cryptocurrency exchange’s stock worth $61,418,000 after buying an additional 85,573 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Coinbase Global by 65.5% in the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares during the last quarter. KBC Group NV lifted its position in shares of Coinbase Global by 26.2% in the fourth quarter. KBC Group NV now owns 21,811 shares of the cryptocurrency exchange’s stock valued at $3,793,000 after acquiring an additional 4,524 shares in the last quarter. Finally, Masso Torrence Wealth Management Inc. acquired a new stake in Coinbase Global during the fourth quarter worth approximately $302,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on COIN. Barclays upped their price target on shares of Coinbase Global from $179.00 to $204.00 and gave the stock an “underweight” rating in a research report on Monday, May 6th. Singular Research reiterated a “buy” rating on shares of Coinbase Global in a report on Wednesday, May 8th. Keefe, Bruyette & Woods upped their price target on Coinbase Global from $230.00 to $240.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. The Goldman Sachs Group reduced their price objective on Coinbase Global from $295.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Coinbase Global from $95.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $215.50.

Coinbase Global Price Performance

Shares of NASDAQ COIN traded down $1.77 during mid-day trading on Friday, reaching $222.23. The company had a trading volume of 10,928,329 shares, compared to its average volume of 11,885,141. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Coinbase Global, Inc. has a 1-year low of $68.15 and a 1-year high of $283.48. The stock has a market cap of $54.57 billion, a PE ratio of 44.34 and a beta of 3.44. The company has a 50-day moving average price of $227.48 and a two-hundred day moving average price of $200.82.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 2nd. The cryptocurrency exchange reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.61. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 33.98% and a return on equity of 9.42%. On average, equities analysts anticipate that Coinbase Global, Inc. will post 5.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $256.30, for a total value of $5,914,122.50. Following the completion of the transaction, the chief executive officer now owns 526 shares in the company, valued at approximately $134,813.80. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $221.47, for a total value of $2,214,700.00. Following the transaction, the insider now directly owns 66,122 shares in the company, valued at approximately $14,644,039.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $256.30, for a total value of $5,914,122.50. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $134,813.80. The disclosure for this sale can be found here. Insiders sold a total of 360,021 shares of company stock valued at $80,655,822 in the last quarter. Insiders own 23.43% of the company’s stock.

Coinbase Global Company 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.