Coinbase Global, Inc. $COIN Shares Purchased by Edmond DE Rothschild Holding S.A.

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in Coinbase Global, Inc. by 91.2%, holding 12,613 shares valued at $2,172,000.
• Institutional investors own 68.84% of Coinbase Global’s stock, with multiple hedge funds also increasing their positions in the first quarter.
• Coinbase reported a net margin of 40.87% for the quarter, but missed earnings expectations with an EPS of $0.12 versus a consensus of $0.91.

Edmond DE Rothschild Holding S.A. boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 91.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,613 shares of the cryptocurrency exchange's stock after acquiring an additional 6,017 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Coinbase Global were worth $2,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in Coinbase Global by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 51,447 shares of the cryptocurrency exchange's stock valued at $8,861,000 after acquiring an additional 9,952 shares during the last quarter. Amalgamated Bank boosted its holdings in Coinbase Global by 4.8% in the first quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock valued at $2,368,000 after acquiring an additional 629 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Coinbase Global by 8.1% in the first quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock valued at $193,000 after acquiring an additional 84 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Coinbase Global by 124.5% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock valued at $453,000 after acquiring an additional 1,454 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its position in Coinbase Global by 87.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock valued at $578,000 after purchasing an additional 1,561 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Coinbase Global from $239.00 to $268.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. Monness Crespi & Hardt lowered Coinbase Global from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Oppenheimer reissued an "outperform" rating and issued a $417.00 price objective on shares of Coinbase Global in a research report on Thursday, July 31st. Benchmark raised their price objective on Coinbase Global from $301.00 to $421.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, Erste Group Bank assumed coverage on Coinbase Global in a research report on Wednesday, July 23rd. They issued a "buy" rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $352.72.

Insiders Place Their Bets

In related news, insider Lawrence J. Brock sold 5,903 shares of Coinbase Global stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $311.37, for a total value of $1,838,017.11. Following the completion of the transaction, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. This trade represents a 92.51% decrease in their ownership of the stock. The transaction 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 Coinbase Global stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $304.52, for a total value of $3,045,200.00. Following the completion of the transaction, the insider owned 82,328 shares of the company's stock, valued at $25,070,522.56. This trade represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,180,871 shares of company stock valued at $439,493,026 in the last three months. 17.65% of the stock is owned by insiders.

Coinbase Global Stock Up 1.5%

Shares of NASDAQ COIN opened at $306.80 on Friday. 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 $78.83 billion, a price-to-earnings ratio of 29.67 and a beta of 3.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12. The stock's 50-day simple moving average is $345.13 and its 200-day simple moving average is $263.95.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm's revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share 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.

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