Vontobel Holding Ltd. Has $3.42 Million Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Vontobel Holding Ltd. reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 34.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,176 shares of the cryptocurrency exchange's stock after selling 10,283 shares during the quarter. Vontobel Holding Ltd.'s holdings in Coinbase Global were worth $3,417,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COIN. Vanguard Group Inc. grew its position in Coinbase Global by 18.4% in the first quarter. Vanguard Group Inc. now owns 16,906,269 shares of the cryptocurrency exchange's stock valued at $4,482,190,000 after purchasing an additional 2,624,989 shares in the last quarter. Cowen AND Company LLC boosted its position in Coinbase Global by 1.5% during the second quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange's stock valued at $330,895,000 after purchasing an additional 22,071 shares during the last quarter. Renaissance Technologies LLC grew its stake in Coinbase Global by 185.9% in the second quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange's stock valued at $236,258,000 after purchasing an additional 691,288 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Coinbase Global by 1,186.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange's stock worth $139,854,000 after purchasing an additional 486,512 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Coinbase Global by 1,136.7% during the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange's stock worth $105,389,000 after purchasing an additional 435,886 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 10,000 shares of the company's stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $235.75, for a total transaction of $2,357,500.00. Following the completion of the sale, the insider now directly owns 71,195 shares in the company, valued at approximately $16,784,221.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $235.75, for a total value of $2,357,500.00. Following the completion of the transaction, the insider now owns 71,195 shares of the company's stock, valued at $16,784,221.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Emilie Choi sold 1,500 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $233.00, for a total transaction of $349,500.00. Following the sale, the chief operating officer now owns 194,971 shares in the company, valued at $45,428,243. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,187 shares of company stock worth $15,515,794 in the last 90 days. Company insiders own 23.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on COIN shares. Bank of America lowered their target price on shares of Coinbase Global from $263.00 to $246.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Compass Point cut their target price on shares of Coinbase Global from $325.00 to $295.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. JMP Securities reiterated a "market outperform" rating and set a $320.00 price target on shares of Coinbase Global in a report on Wednesday, October 9th. Citigroup upgraded Coinbase Global from a "neutral" rating to a "buy" rating and upped their price objective for the company from $260.00 to $345.00 in a research note on Tuesday, July 23rd. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $280.00 target price on shares of Coinbase Global in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Coinbase Global currently has an average rating of "Hold" and an average target price of $246.44.

Coinbase Global Stock Performance

NASDAQ:COIN traded up $16.01 during mid-day trading on Friday, reaching $220.21. 13,569,592 shares of the company's stock were exchanged, compared to its average volume of 10,398,422. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $54.08 billion, a PE ratio of 43.95 and a beta of 3.35. Coinbase Global, Inc. has a one year low of $70.42 and a one year high of $283.48. The business's fifty day simple moving average is $180.16 and its two-hundred day simple moving average is $211.67.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The cryptocurrency exchange reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.93). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.40 billion. Coinbase Global had a net margin of 31.46% and a return on equity of 13.89%. The firm's quarterly revenue was up 104.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. Analysts anticipate that Coinbase Global, Inc. will post 3.92 earnings per share for the current fiscal year.

About Coinbase Global

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.