Deutsche Bank AG reduced its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN – Free Report) by 7.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,328 shares of the cryptocurrency exchange’s stock after selling 12,220 shares during the quarter. Deutsche Bank AG owned approximately 0.06% of Coinbase Global worth $10,761,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of COIN. Vanguard Group Inc. lifted its holdings in Coinbase Global by 19.8% during the third quarter. Vanguard Group Inc. now owns 12,786,266 shares of the cryptocurrency exchange’s stock worth $824,587,000 after acquiring an additional 2,110,196 shares during the period. Norges Bank bought a new stake in shares of Coinbase Global in the fourth quarter valued at $50,254,000. Renaissance Technologies LLC raised its stake in shares of Coinbase Global by 84.7% in the second quarter. Renaissance Technologies LLC now owns 3,057,000 shares of the cryptocurrency exchange’s stock valued at $218,728,000 after buying an additional 1,402,169 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Coinbase Global in the second quarter valued at $93,815,000. Finally, Morgan Stanley raised its stake in shares of Coinbase Global by 18.5% in the third quarter. Morgan Stanley now owns 3,279,836 shares of the cryptocurrency exchange’s stock valued at $246,250,000 after buying an additional 511,397 shares during the period. 45.96% of the stock is currently owned by institutional investors.
Coinbase Global Stock Performance
Shares of COIN opened at $256.88 on Thursday. The business’s fifty day simple moving average is $170.33 and its two-hundred day simple moving average is $129.12. The company has a current ratio of 1.03, a quick 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 $271.65. The company has a market cap of $62.23 billion, a price-to-earnings ratio of 951.41 and a beta of 3.36.
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its earnings results on Thursday, February 15th. The cryptocurrency exchange reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $1.13. The company had revenue of $953.80 million for the quarter, compared to analysts’ expectations of $826.10 million. Coinbase Global had a return on equity of 3.54% and a net margin of 3.05%. Coinbase Global’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period last year, the firm earned ($2.46) EPS. Research analysts anticipate that Coinbase Global, Inc. will post 1.53 earnings per share for the current fiscal year.
Analysts Set New Price Targets
COIN has been the topic of several research reports. JMP Securities boosted their target price on Coinbase Global from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Friday, February 16th. The Goldman Sachs Group upgraded Coinbase Global from a “sell” rating to a “neutral” rating in a research report on Friday, March 8th. Needham & Company LLC lifted their price target on Coinbase Global from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, January 8th. Oppenheimer lifted their price target on Coinbase Global from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, HC Wainwright lifted their price target on Coinbase Global from $115.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus price target of $131.52.
Read Our Latest Stock Report on Coinbase Global
Insider Buying and Selling at Coinbase Global
In other news, insider Paul Grewal sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $173.76, for a total transaction of $1,737,600.00. Following the completion of the transaction, the insider now owns 61,665 shares in the company, valued at $10,714,910.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Coinbase Global news, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $173.76, for a total transaction of $1,737,600.00. Following the sale, the insider now directly owns 61,665 shares of the company’s stock, valued at $10,714,910.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $245.00, for a total value of $367,500.00. Following the transaction, the chief operating officer now directly owns 226,051 shares in the company, valued at approximately $55,382,495. The disclosure for this sale can be found here. Insiders have sold a total of 949,028 shares of company stock valued at $147,571,961 over the last ninety days. 33.16% of the stock is currently owned by company insiders.
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.
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