Bank Julius Baer & Co. Ltd Zurich Trims Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,675 shares of the cryptocurrency exchange’s stock after selling 869 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Coinbase Global were worth $1,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Ballentine Partners LLC purchased a new stake in Coinbase Global in the 3rd quarter worth approximately $201,000. Walter & Keenan Wealth Management LLC IN ADV grew its holdings in Coinbase Global by 7.0% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 15,891 shares of the cryptocurrency exchange’s stock valued at $1,193,000 after buying an additional 1,043 shares in the last quarter. Golden State Equity Partners purchased a new stake in Coinbase Global during the 3rd quarter valued at approximately $213,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Coinbase Global by 5.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,500 shares of the cryptocurrency exchange’s stock valued at $2,515,000 after buying an additional 1,800 shares in the last quarter. Finally, Xponance Inc. grew its holdings in Coinbase Global by 5.6% during the 3rd quarter. Xponance Inc. now owns 6,261 shares of the cryptocurrency exchange’s stock valued at $470,000 after buying an additional 333 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Up 5.7 %

Coinbase Global stock opened at $236.32 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global, Inc. has a 52 week low of $46.43 and a 52 week high of $283.48. The company has a market capitalization of $57.25 billion, a price-to-earnings ratio of 875.26 and a beta of 3.41. The stock has a 50-day moving average price of $231.74 and a 200 day moving average price of $160.91.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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 return on equity of 3.54% and a net margin of 3.05%. The company 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 company posted ($2.46) earnings per share. Coinbase Global’s revenue for the quarter was up 51.6% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other news, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total value of $193,965.00. Following the completion of the sale, the chief operating officer now directly owns 233,142 shares in the company, valued at $30,147,592.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $232.37, for a total value of $3,806,220.60. Following the completion of the sale, the director now directly owns 4,662 shares in the company, valued at $1,083,308.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Emilie Choi sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $129.31, for a total value of $193,965.00. Following the sale, the chief operating officer now owns 233,142 shares of the company’s stock, valued at $30,147,592.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 532,208 shares of company stock valued at $99,652,403. 33.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on COIN. Needham & Company LLC increased their target price on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. The Goldman Sachs Group upgraded Coinbase Global from a “sell” rating to a “neutral” rating in a research note on Friday, March 8th. Citigroup raised their price target on Coinbase Global from $90.00 to $151.00 and gave the company a “neutral” rating in a research note on Friday, January 19th. Mizuho lifted their target price on Coinbase Global from $84.00 to $145.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. Finally, TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $165.43.

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.