Vontobel Holding Ltd. Purchases 7,791 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Vontobel Holding Ltd. increased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 45.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,065 shares of the cryptocurrency exchange's stock after buying an additional 7,791 shares during the quarter. Vontobel Holding Ltd.'s holdings in Coinbase Global were worth $4,317,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in COIN. Mascagni Wealth Management Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at $25,000. Copia Wealth Management acquired a new stake in shares of Coinbase Global in the 4th quarter valued at $26,000. Bessemer Group Inc. boosted its holdings in shares of Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. Atala Financial Inc acquired a new stake in shares of Coinbase Global in the 4th quarter valued at $27,000. Finally, NBT Bank N A NY acquired a new stake in shares of Coinbase Global in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Activity

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of Coinbase Global stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $252.68, for a total value of $7,622,597.56. Following the completion of the transaction, the director directly owned 10,417 shares of the company's stock, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at $190,732.86. The trade was a 99.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 685,915 shares of company stock valued at $222,081,432. Corporate insiders own 17.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Monness Crespi & Hardt raised Coinbase Global from a "neutral" rating to a "buy" rating and set a $300.00 target price on the stock in a report on Tuesday, May 13th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $260.00 target price (up previously from $210.00) on shares of Coinbase Global in a report on Tuesday, May 27th. William Blair started coverage on Coinbase Global in a report on Wednesday, June 11th. They issued an "outperform" rating on the stock. Needham & Company LLC cut their price objective on Coinbase Global from $330.00 to $270.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $300.00 price objective on shares of Coinbase Global in a report on Monday, June 16th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $291.06.

Coinbase Global Trading Up 0.3%

NASDAQ:COIN traded up $1.13 during trading hours on Friday, hitting $355.58. 6,704,285 shares of the company were exchanged, compared to its average volume of 10,787,788. The company has a fifty day simple moving average of $265.23 and a 200 day simple moving average of $243.22. Coinbase Global, Inc. has a one year low of $142.58 and a one year high of $382.00. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $90.27 billion, a price-to-earnings ratio of 66.59, a price-to-earnings-growth ratio of 26.03 and a beta of 3.70.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the business posted $2.53 earnings per share. The business's revenue was up 24.2% on a year-over-year basis. Sell-side analysts expect that Coinbase Global, Inc. will post 7.22 EPS 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.