Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,344 shares of the cryptocurrency exchange’s stock after buying an additional 538 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coinbase Global were worth $13,278,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of COIN. Raymond James & Associates grew its stake in shares of Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock worth $4,203,000 after acquiring an additional 9,564 shares during the last quarter. Mariner LLC grew its holdings in Coinbase Global by 5.4% in the 3rd quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after buying an additional 4,259 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Coinbase Global by 10.0% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock worth $103,000 after purchasing an additional 125 shares during the period. Oak Thistle LLC purchased a new position in shares of Coinbase Global during the 4th quarter worth $1,035,000. Finally, Barclays PLC grew its holdings in shares of Coinbase Global by 41.5% during the 3rd quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock worth $30,394,000 after purchasing an additional 118,670 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,624 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $168.75, for a total transaction of $274,050.00. Following the transaction, the chief accounting officer now owns 29,236 shares in the company, valued at $4,933,575. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 16,380 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $213.99, for a total transaction of $3,505,156.20. Following the sale, the director now owns 4,662 shares in the company, valued at $997,621.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer N. Jones sold 1,624 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $168.75, for a total value of $274,050.00. Following the sale, the chief accounting officer now owns 29,236 shares in the company, valued at approximately $4,933,575. The disclosure for this sale can be found here. Insiders have sold a total of 607,358 shares of company stock worth $106,945,156 over the last quarter. 33.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup increased their target price on Coinbase Global from $90.00 to $151.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Needham & Company LLC raised their price target on Coinbase Global from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. HC Wainwright raised their price target on Coinbase Global from $115.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. JMP Securities restated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, March 22nd. Finally, TheStreet upgraded Coinbase Global from a “d” rating to a “c-” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $165.43.

Coinbase Global Price Performance

COIN stock opened at $211.01 on Friday. The stock has a 50-day moving average price of $224.69 and a two-hundred day moving average price of $155.57. Coinbase Global, Inc. has a 12-month low of $46.43 and a 12-month high of $283.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. The company has a market cap of $51.12 billion, a PE ratio of 781.52 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last posted 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 firm had revenue of $953.80 million during the quarter, compared to the consensus estimate of $826.10 million. During the same quarter in the previous year, the business earned ($2.46) earnings per share. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, research analysts predict that Coinbase Global, Inc. will post 2.43 EPS for the current 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.