Vontobel Holding Ltd. Sells 1,902 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Vontobel Holding Ltd. lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,274 shares of the cryptocurrency exchange’s stock after selling 1,902 shares during the period. Vontobel Holding Ltd.’s holdings in Coinbase Global were worth $4,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Coinbase Global by 10.1% during the third quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Coinbase Global by 2.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock valued at $570,341,000 after purchasing an additional 71,398 shares in the last quarter. Clear Street Derivatives LLC acquired a new stake in shares of Coinbase Global during the third quarter valued at about $409,919,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Coinbase Global by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after purchasing an additional 52,856 shares in the last quarter. Finally, Ribbit Management Company LLC boosted its stake in shares of Coinbase Global by 4.7% during the third quarter. Ribbit Management Company LLC now owns 394,100 shares of the cryptocurrency exchange’s stock valued at $70,217,000 after purchasing an additional 17,650 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Activity

In other news, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jennifer N. Jones sold 1,837 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $295.02, for a total value of $541,951.74. Following the sale, the chief accounting officer now directly owns 1,160 shares of the company’s stock, valued at approximately $342,223.20. This represents a 61.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 328,529 shares of company stock valued at $95,595,712 in the last ninety days. 23.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COIN. Piper Sandler lifted their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a research note on Thursday. B. Riley started coverage on Coinbase Global in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price on the stock. Canaccord Genuity Group upped their target price on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday. Finally, The Goldman Sachs Group reduced their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $301.17.

Coinbase Global Trading Down 8.0 %

NASDAQ COIN opened at $274.31 on Monday. The firm has a market capitalization of $68.67 billion, a P/E ratio of 46.81 and a beta of 3.61. The business has a fifty day simple moving average of $280.97 and a 200 day simple moving average of $238.36. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. On average, analysts predict that Coinbase Global, Inc. will post 4.81 EPS for the current fiscal year.

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.