Bank Julius Baer & Co. Ltd Zurich Sells 3,305 Shares of Coinbase Global, Inc. $COIN

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 24.2% in the fourth quarter, HoldingsChannel reports. The firm owned 10,341 shares of the cryptocurrency exchange’s stock after selling 3,305 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Coinbase Global were worth $2,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Coinbase Global by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock valued at $5,970,285,000 after purchasing an additional 184,043 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Coinbase Global by 5.9% during the 3rd quarter. Northern Trust Corp now owns 1,959,871 shares of the cryptocurrency exchange’s stock worth $661,437,000 after acquiring an additional 108,751 shares during the period. Legal & General Group Plc grew its holdings in shares of Coinbase Global by 5.0% during the 3rd quarter. Legal & General Group Plc now owns 1,193,784 shares of the cryptocurrency exchange’s stock worth $402,890,000 after acquiring an additional 57,164 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Coinbase Global by 41.1% during the 4th quarter. Baillie Gifford & Co. now owns 829,081 shares of the cryptocurrency exchange’s stock worth $187,488,000 after acquiring an additional 241,659 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Coinbase Global by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 783,273 shares of the cryptocurrency exchange’s stock worth $264,320,000 after acquiring an additional 8,636 shares during the period. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Coinbase Global stock opened at $195.43 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $51.49 billion, a P/E ratio of 73.47, a PEG ratio of 7.73 and a beta of 3.38. The stock’s 50 day moving average is $191.39 and its 200 day moving average is $222.22. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The business’s quarterly revenue was down 30.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 EPS. On average, equities research analysts predict that Coinbase Global, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COIN. China Renaissance reduced their target price on Coinbase Global from $301.50 to $223.20 and set a “buy” rating on the stock in a report on Monday, February 23rd. Sanford C. Bernstein reduced their target price on Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a report on Wednesday, May 6th. Monness Crespi & Hardt reiterated a “sell” rating and set a $110.00 target price (down from $115.00) on shares of Coinbase Global in a report on Friday, May 8th. Finally, Needham & Company LLC reduced their target price on Coinbase Global from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Nineteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $252.20.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Coinbase benefited earlier in the week from the Senate Banking Committee advancing the CLARITY Act, which could create a more favorable regulatory backdrop for crypto trading and adoption. Coinbase, Robinhood Stocks Lose Momentum After Big Crypto Bill Win
• Positive Sentiment: Rothschild & Co Redburn raised its price target on Coinbase to $263 and kept a buy rating, signaling continued analyst confidence in the stock. Coinbase Global Price Target Raised to $263.00 at Rothschild & Co Redburn
• Neutral Sentiment: Coinbase expanded its role in the Hyperliquid ecosystem by becoming the official USDC treasury deployer, highlighting growing stablecoin and onchain trading activity. Coinbase Expands USDC Push On Hyperliquid As Onchain Trading Liquidity Accelerates
• Negative Sentiment: Crypto stocks are losing momentum after an initial rally faded, with investors pulling back amid macro uncertainty and doubts about sustained upside in digital assets. Why crypto stocks Coinbase, Robinhood, Strategy are sliding today
• Negative Sentiment: Some analysts say COIN still looks expensive after its recent run, with valuation concerns likely limiting near-term upside. COIN Stock Up 29% in 3 Months But Valuation Expensive: How to Play

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the sale, the chief financial officer owned 377,201 shares in the company, valued at $75,440,200. This represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 29,990 shares of company stock valued at $6,013,920. Corporate insiders own 16.66% of the company’s stock.

About Coinbase Global

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.