Vontobel Holding Ltd. Decreases Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Vontobel Holding Ltd. lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,332 shares of the cryptocurrency exchange’s stock after selling 19,093 shares during the quarter. Vontobel Holding Ltd.’s holdings in Coinbase Global were worth $19,363,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Coinbase Global by 1.3% in the third quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock worth $1,041,602,000 after acquiring an additional 176,525 shares during the last quarter. Morgan Stanley grew its position in shares of Coinbase Global by 18.5% in the 3rd quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Coinbase Global by 3.2% in the 1st quarter. Geode Capital Management LLC now owns 2,341,989 shares of the cryptocurrency exchange’s stock valued at $158,083,000 after buying an additional 73,036 shares during the last quarter. Norges Bank purchased a new position in shares of Coinbase Global in the 4th quarter valued at $50,254,000. Finally, Northern Trust Corp grew its position in shares of Coinbase Global by 4.3% in the 3rd quarter. Northern Trust Corp now owns 897,166 shares of the cryptocurrency exchange’s stock valued at $67,359,000 after buying an additional 37,019 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $131.90, for a total transaction of $12,904,568.40. Following the transaction, the director now directly owns 201,744 shares of the company’s stock, valued at $26,610,033.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 97,836 shares of Coinbase Global stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $131.90, for a total transaction of $12,904,568.40. Following the transaction, the director now directly owns 201,744 shares of the company’s stock, valued at $26,610,033.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the transaction, the insider now directly owns 61,665 shares in the company, valued at $7,462,698.30. The disclosure for this sale can be found here. Insiders have sold a total of 660,039 shares of company stock valued at $109,435,051 over the last ninety days. Corporate insiders own 33.16% of the company’s stock.

Coinbase Global Price Performance

Coinbase Global stock opened at $223.41 on Tuesday. Coinbase Global, Inc. has a 1 year low of $46.43 and a 1 year high of $283.48. The firm has a 50 day moving average price of $217.78 and a 200 day moving average price of $152.75. The company has a market cap of $54.13 billion, a price-to-earnings ratio of 827.44 and a beta of 3.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.03.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $1.13. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same period in the previous year, the firm earned ($2.46) earnings per share. Coinbase Global’s revenue was up 51.6% compared to the same quarter last year. Sell-side analysts predict that Coinbase Global, Inc. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on COIN. The Goldman Sachs Group raised shares of Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. TheStreet upgraded shares of Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. raised their target price on shares of Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Finally, Bank of America raised their target price on shares of Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $163.70.

About Coinbase Global

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.