Zions Bancorporation National Association UT Takes $67,000 Position in Coinbase Global, Inc. $COIN

Zions Bancorporation National Association UT bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 190 shares of the cryptocurrency exchange’s stock, valued at approximately $67,000.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Coinbase Global by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 19,294,456 shares of the cryptocurrency exchange’s stock worth $3,323,084,000 after purchasing an additional 875,359 shares in the last quarter. ARK Investment Management LLC grew its holdings in Coinbase Global by 1.1% during the first quarter. ARK Investment Management LLC now owns 3,069,107 shares of the cryptocurrency exchange’s stock worth $528,592,000 after buying an additional 34,462 shares in the last quarter. Groupama Asset Managment raised its position in Coinbase Global by 100.0% in the 1st quarter. Groupama Asset Managment now owns 3,000,000 shares of the cryptocurrency exchange’s stock valued at $516,690,000 after buying an additional 1,500,000 shares during the last quarter. Amundi raised its position in Coinbase Global by 44.1% in the 1st quarter. Amundi now owns 1,574,434 shares of the cryptocurrency exchange’s stock valued at $268,850,000 after buying an additional 481,786 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Coinbase Global by 0.6% during the 1st quarter. Northern Trust Corp now owns 1,302,433 shares of the cryptocurrency exchange’s stock valued at $224,318,000 after acquiring an additional 7,675 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Coinbase Global in a research note on Tuesday, October 14th. JPMorgan Chase & Co. reduced their price objective on shares of Coinbase Global from $404.00 to $399.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Bank of America decreased their price objective on shares of Coinbase Global from $369.00 to $340.00 in a research note on Wednesday, October 1st. Citigroup lifted their target price on shares of Coinbase Global from $270.00 to $505.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $417.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Moderate Buy” and a consensus price target of $399.94.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 19,927 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $288.77, for a total transaction of $5,754,319.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $344.41, for a total transaction of $1,515,404.00. Following the completion of the transaction, the chief financial officer directly owned 84,820 shares of the company’s stock, valued at approximately $29,212,856.20. This trade represents a 4.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 487,658 shares of company stock valued at $154,461,520. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $304.01 on Wednesday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $334.21 and a two-hundred day simple moving average of $313.48. Coinbase Global, Inc. has a 1-year low of $142.58 and a 1-year high of $444.64. The firm has a market cap of $81.97 billion, a price-to-earnings ratio of 26.30 and a beta of 3.67.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business’s revenue was up 55.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current 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.