Zurcher Kantonalbank Zurich Cantonalbank Has $13.28 Million Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 76,344 shares of the cryptocurrency exchange’s stock after buying an additional 538 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coinbase Global were worth $13,278,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its holdings in Coinbase Global by 65.5% during the fourth quarter. Raymond James & Associates now owns 24,165 shares of the cryptocurrency exchange’s stock valued at $4,203,000 after purchasing an additional 9,564 shares in the last quarter. Mariner LLC boosted its holdings in Coinbase Global by 5.4% during the third quarter. Mariner LLC now owns 82,582 shares of the cryptocurrency exchange’s stock valued at $6,200,000 after purchasing an additional 4,259 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Coinbase Global by 10.0% during the third quarter. Itau Unibanco Holding S.A. now owns 1,374 shares of the cryptocurrency exchange’s stock valued at $103,000 after purchasing an additional 125 shares in the last quarter. Oak Thistle LLC acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $1,035,000. Finally, Barclays PLC boosted its holdings in Coinbase Global by 41.5% during the third quarter. Barclays PLC now owns 404,779 shares of the cryptocurrency exchange’s stock valued at $30,394,000 after purchasing an additional 118,670 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the completion of the sale, the insider now directly owns 61,665 shares in the company, valued at approximately $7,462,698.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $121.02, for a total value of $1,210,200.00. Following the transaction, the insider now directly owns 61,665 shares of the company’s stock, valued at approximately $7,462,698.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 16,380 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $213.99, for a total transaction of $3,505,156.20. Following the completion of the transaction, the director now directly owns 4,662 shares in the company, valued at $997,621.38. The disclosure for this sale can be found here. Insiders sold a total of 607,358 shares of company stock worth $106,945,156 in the last three months. Insiders own 33.16% of the company’s stock.

Wall Street Analyst Weigh In

COIN has been the topic of a number of recent research reports. TheStreet raised Coinbase Global from a “d” rating to a “c-” rating in a report on Friday, February 16th. Sanford C. Bernstein boosted their target price on Coinbase Global from $80.00 to $200.00 and gave the stock a “market perform” rating in a report on Thursday. Bank of America boosted their target price on Coinbase Global from $92.00 to $110.00 and gave the stock an “underperform” rating in a report on Wednesday, April 10th. JMP Securities reissued a “market outperform” rating on shares of Coinbase Global in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Coinbase Global from $95.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $165.43.

Coinbase Global Price Performance

COIN opened at $211.01 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. Coinbase Global, Inc. has a 12 month low of $46.43 and a 12 month high of $283.48. The company has a fifty day simple moving average of $224.69 and a 200 day simple moving average of $155.57. The stock has a market cap of $51.12 billion, a P/E ratio of 781.52 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The firm had revenue of $953.80 million during the quarter, compared to analyst estimates of $826.10 million. Coinbase Global had a net margin of 3.05% and a return on equity of 3.54%. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.46) EPS. On average, research analysts expect 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.