Diversified Trust Co Reduces Stake in Coinbase Global

Diversified Trust Co has significantly reduced its investment in Coinbase Global, Inc. (NASDAQ:COIN), selling off 37.6% of its shares during the fourth quarter. This move resulted in the company owning 2,075 of Coinbase's shares, valued at $361,000 at quarter's end, as reported in the latest filing with the Securities & Exchange Commission.

Hedge Funds Adjusting Coinbase Holdings

Other financial institutions have also altered their investments in the cryptocurrency exchange. For example, Ancora Advisors LLC increased their shares in Coinbase by 144.0%, owning 737 shares worth $26,000. Tyler Stone Wealth Management initiated a new position, investing about $31,000. Bessemer Group Inc. doubled its stake, now holding 1,000 shares valued at $36,000. Similarly, ICA Group Wealth Management LLC started a new holding in Coinbase worth approximately the same amount. Money Concepts Capital Corp dramatically boosted its investment by 1,120.7%, now possessing 1,355 shares with a value of $48,000. Collectively, hedge funds and institutional investors own 45.96% of Coinbase.

Market Analysts Adjust COIN Price Targets

Several equity analysts have updated their price targets for Coinbase shares. Oppenheimer raised its target from $160 to $200, with an ‘outperform’ rating. Mizuho, presenting a less optimistic view, increased its target from $60 to $84 but maintains an ‘underperform’ rating. Raymond James upgraded Coinbase from ‘underperform’ to ‘market perform’. JPMorgan Chase & Co raised their target from $95 to $150 with a ‘neutral’ rating. Citigroup also hiked its target from $90 to $151 and rated the stock as ‘neutral’. Overall, the company has a consensus rating of ‘Hold’ and a target price of $131.52 according to MarketBeat.com.

Coinbase's Performance in the Market

Coinbase’s shares began trading at $262.00 with a market cap of $63.47 billion. The company sustains a PE ratio of 970.37 and a beta of 3.36, indicating high volatility. Its one-year low is at $46.43 and a high at $276.38. Coinbase Global reported a quarterly EPS of $1.04, surpassing expectations by $1.13, and revenue of $953.80 million which outperformed forecasts. With a net margin of 3.05% and a return on equity of 3.54%, the company’s yearly projection is an EPS of $1.53.

Insider Activity at Coinbase Global

Recent insider transactions include Coinbase’s CFO, Alesia J. Haas, selling 4,750 shares at an average price of $225.35. Director Frederick Ernest Ehrsam III also sold 16,380 shares. In total, insiders have sold 843,261 shares in the past three months, with insiders owning 33.16% of the company’s stock. Transactions and ownership details are publicly filed with the SEC.

About Coinbase Global

Coinbase Global, Inc. is a key financial infrastructure provider in the crypto economy. Consumers benefit from a primary financial account for managing cryptocurrency, while institutions get a liquidity marketplace. The company operates on a global scale, offering technology and infrastructure to support cryptocurrency transactions.

Coinbase, Investment, Stocks