Vontobel Holding Ltd. Sells 19,093 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Vontobel Holding Ltd. trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 14.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,332 shares of the cryptocurrency exchange’s stock after selling 19,093 shares during the period. Vontobel Holding Ltd.’s holdings in Coinbase Global were worth $19,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COIN. Vanguard Group Inc. increased its holdings in Coinbase Global by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,873,234 shares of the cryptocurrency exchange’s stock worth $1,041,602,000 after purchasing an additional 176,525 shares in the last quarter. Morgan Stanley boosted its stake 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 worth $246,250,000 after buying an additional 511,397 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $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 worth approximately $50,254,000. Finally, Northern Trust Corp boosted its stake 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 worth $67,359,000 after buying an additional 37,019 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Jennifer N. Jones sold 1,624 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total transaction of $274,050.00. Following the completion of the sale, the chief accounting officer now directly owns 29,236 shares in the company, valued at $4,933,575. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the completion of the sale, the chief accounting officer now directly owns 29,236 shares in the company, valued at $4,933,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $121.02, for a total transaction of $1,210,200.00. Following the completion of the sale, the insider now owns 61,665 shares of the company’s stock, valued at $7,462,698.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 660,039 shares of company stock valued at $109,435,051. 33.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on COIN shares. Piper Sandler boosted their target price on Coinbase Global from $225.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday. Needham & Company LLC boosted their target price on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. Mizuho boosted their target price on Coinbase Global from $84.00 to $145.00 and gave the stock an “underperform” rating in a research note on Friday. Oppenheimer boosted their target price on Coinbase Global from $200.00 to $276.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Barclays upped their price objective on Coinbase Global from $146.00 to $179.00 and gave the company an “underweight” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $163.70.

Coinbase Global Trading Down 9.1 %

Coinbase Global stock opened at $223.41 on Tuesday. The stock has a market cap of $54.13 billion, a P/E 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, Inc. has a fifty-two week low of $46.43 and a fifty-two week high of $283.48. The firm’s fifty day moving average price is $217.78 and its 200-day moving average price is $152.75.

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

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.