Vontobel Holding Ltd. Sells 10,283 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Vontobel Holding Ltd. cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 34.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,176 shares of the cryptocurrency exchange’s stock after selling 10,283 shares during the period. Vontobel Holding Ltd.’s holdings in Coinbase Global were worth $3,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Coinbase Global by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange’s stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares during the period. Renaissance Technologies LLC grew its position in Coinbase Global by 185.9% during the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after buying an additional 691,288 shares during the period. Canada Pension Plan Investment Board increased its holdings in Coinbase Global by 1,186.6% during the first quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock worth $139,854,000 after buying an additional 486,512 shares during the last quarter. American Century Companies Inc. raised its position in Coinbase Global by 1,136.7% in the second quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after acquiring an additional 435,886 shares during the period. Finally, APEIRON CAPITAL Ltd purchased a new position in Coinbase Global in the first quarter valued at about $108,434,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $220.21 on Friday. The firm has a market capitalization of $54.08 billion, a P/E ratio of 43.95 and a beta of 3.35. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $180.16 and its two-hundred day simple moving average is $211.67. Coinbase Global, Inc. has a twelve month low of $70.42 and a twelve month high of $283.48.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.93). Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business earned ($0.42) earnings per share. The company’s revenue for the quarter was up 104.8% compared to the same quarter last year. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 3.92 EPS for the current fiscal year.

Analysts Set New Price Targets

COIN has been the subject of several research analyst reports. Barclays raised their price target on shares of Coinbase Global from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Coinbase Global in a research note on Monday, August 5th. Compass Point cut their price target on Coinbase Global from $325.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Bank of America lowered their price objective on Coinbase Global from $263.00 to $246.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, HC Wainwright cut their target price on shares of Coinbase Global from $315.00 to $295.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $246.44.

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $91,487.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brian Armstrong sold 23,075 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at $91,487.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now owns 7,771 shares in the company, valued at $1,588,703.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 81,187 shares of company stock worth $15,515,794. 23.43% of the stock is currently owned by corporate insiders.

Coinbase Global 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.