Edmond DE Rothschild Holding S.A. Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Edmond DE Rothschild Holding S.A. grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 226.5% during the 4th quarter, HoldingsChannel reports. The fund owned 6,596 shares of the cryptocurrency exchange’s stock after purchasing an additional 4,576 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Coinbase Global were worth $1,638,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of COIN. Wellington Management Group LLP raised its holdings in Coinbase Global by 168.2% in the 3rd quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock worth $4,648,000 after acquiring an additional 16,363 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Coinbase Global in the fourth quarter worth $252,000. Virtu Financial LLC bought a new position in shares of Coinbase Global during the third quarter valued at $3,866,000. Savant Capital LLC purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $591,000. Finally, XTX Topco Ltd raised its position in Coinbase Global by 818.2% in the 3rd quarter. XTX Topco Ltd now owns 13,167 shares of the cryptocurrency exchange’s stock worth $2,346,000 after buying an additional 11,733 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $137,322.82. This trade represents a 97.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 25,194 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $298.95, for a total transaction of $7,531,746.30. Following the sale, the director now directly owns 10,417 shares in the company, valued at approximately $3,114,162.15. The trade was a 70.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,609 shares of company stock worth $61,331,908 over the last 90 days. Corporate insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 1.3 %

Shares of COIN opened at $174.52 on Wednesday. The business’s 50 day moving average is $234.50 and its 200 day moving average is $242.97. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12-month low of $146.12 and a 12-month high of $349.75. The company has a market capitalization of $44.31 billion, a PE ratio of 18.37 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Research analysts expect that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COIN. Bank of America reduced their price target on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods boosted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the company a “market perform” rating in a research note on Tuesday, February 18th. Piper Sandler increased their price target on Coinbase Global from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Mizuho cut their price objective on Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday, March 11th. Finally, Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global 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.