J. Safra Sarasin Holding AG Buys 10,872 Shares of Coinbase Global, Inc. $COIN

Key Points

• J. Safra Sarasin Holding AG increased its stake in Coinbase Global, Inc. by 64.8%, acquiring an additional 10,872 shares, bringing its total holdings to 27,653 shares valued at $9.69 million.
• Coinbase reported a quarterly earnings miss with $0.12 EPS, falling short of the $0.91 analysts' estimate, and revenue of $1.50 billion, below the expected $1.68 billion.
• Despite the earnings miss, 14 analysts have rated Coinbase Global stock as a Buy, with a consensus price target of $359.49.

J. Safra Sarasin Holding AG raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 64.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,653 shares of the cryptocurrency exchange's stock after buying an additional 10,872 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Coinbase Global were worth $9,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of COIN. Merit Financial Group LLC boosted its stake in Coinbase Global by 50.2% during the 1st quarter. Merit Financial Group LLC now owns 1,949 shares of the cryptocurrency exchange's stock worth $336,000 after acquiring an additional 651 shares during the last quarter. Generali Investments Management Co LLC acquired a new stake in Coinbase Global in the first quarter worth $195,000. Intellectus Partners LLC boosted its position in shares of Coinbase Global by 24.2% during the first quarter. Intellectus Partners LLC now owns 5,905 shares of the cryptocurrency exchange's stock worth $1,017,000 after purchasing an additional 1,150 shares in the last quarter. Sara Bay Financial grew its holdings in shares of Coinbase Global by 66.7% in the 1st quarter. Sara Bay Financial now owns 1,500 shares of the cryptocurrency exchange's stock valued at $261,000 after buying an additional 600 shares during the period. Finally, Perkins Coie Trust Co bought a new stake in shares of Coinbase Global in the 1st quarter valued at $43,000. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

Shares of COIN opened at $372.07 on Friday. The stock has a market capitalization of $95.60 billion, a price-to-earnings ratio of 35.98 and a beta of 3.68. Coinbase Global, Inc. has a 12 month low of $142.58 and a 12 month high of $444.64. The firm has a fifty day simple moving average of $323.85 and a 200 day simple moving average of $279.47. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. Research analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 15,439 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $310.80, for a total value of $4,798,441.20. Following the completion of the sale, the insider owned 82,328 shares of the company's stock, valued at $25,587,542.40. The trade was a 15.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian Armstrong sold 198,300 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $397.87, for a total value of $78,897,621.00. Following the transaction, the chief executive officer owned 526 shares in the company, valued at approximately $209,279.62. This trade represents a 99.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 714,515 shares of company stock worth $272,046,775. 17.65% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on COIN shares. Erste Group Bank initiated coverage on Coinbase Global in a research note on Wednesday, July 23rd. They set a "buy" rating on the stock. Citigroup raised their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. William Blair assumed coverage on Coinbase Global in a report on Wednesday, June 11th. They set an "outperform" rating on the stock. The Goldman Sachs Group increased their target price on Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Finally, Wall Street Zen raised shares of Coinbase Global from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Fourteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $359.49.

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.

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