Coinbase Global, Inc. $COIN Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG decreased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 95.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,030 shares of the cryptocurrency exchange’s stock after selling 47,304 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Coinbase Global were worth $354,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. MV Capital Management Inc. acquired a new position in Coinbase Global in the fourth quarter valued at $27,000. Palisade Asset Management LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $29,000. Osbon Capital Management LLC purchased a new position in shares of Coinbase Global during the fourth quarter worth about $30,000. Brooklands Fund Management Ltd purchased a new position in shares of Coinbase Global during the fourth quarter worth about $34,000. Finally, Stephens Consulting LLC increased its stake in Coinbase Global by 99.0% in the 4th quarter. Stephens Consulting LLC now owns 201 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Key Coinbase Global News

Here are the key news stories impacting Coinbase Global this week:

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on COIN. Jefferies Financial Group lifted their price target on shares of Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a research report on Thursday, April 9th. Sanford C. Bernstein dropped their price objective on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. Zacks Research raised Coinbase Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Barclays reduced their target price on Coinbase Global from $107.00 to $99.00 and set an “underweight” rating on the stock in a research note on Thursday, July 9th. Finally, President Capital raised their price target on Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $245.88.

View Our Latest Research Report on COIN

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $167.21 on Thursday. The business has a fifty day simple moving average of $171.94 and a 200-day simple moving average of $187.82. Coinbase Global, Inc. has a 52 week low of $139.18 and a 52 week high of $444.64. The company has a market cap of $44.05 billion, a P/E ratio of 62.86, a P/E/G ratio of 8.40 and a beta of 3.35. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COINGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was down 30.5% on a year-over-year basis. Equities research analysts forecast that Coinbase Global, Inc. will post 1.75 EPS for the current year.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 1,960 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the sale, the insider directly owned 84,753 shares in the company, valued at $14,991,110.64. This represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total value of $1,250,490.16. Following the sale, the insider owned 517 shares of the company’s stock, valued at approximately $97,718.17. The trade was a 92.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 30,627 shares of company stock worth $5,327,841. Company insiders own 16.66% of the company’s stock.

Coinbase Global Profile

(Free Report)

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

Further Reading

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COINFree Report).

Institutional Ownership by Quarter for Coinbase Global (NASDAQ:COIN)

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