J. Safra Sarasin Holding AG Invests $4.44 Million in Coinbase Global, Inc. (NASDAQ:COIN)

J. Safra Sarasin Holding AG acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,880 shares of the cryptocurrency exchange’s stock, valued at approximately $4,440,000.

A number of other hedge funds also recently added to or reduced their stakes in COIN. McElhenny Sheffield Capital Management LLC acquired a new position in Coinbase Global during the fourth quarter worth $252,000. Virtu Financial LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth about $3,866,000. Savant Capital LLC purchased a new position in Coinbase Global during the 4th quarter valued at about $591,000. Principal Financial Group Inc. lifted its holdings in shares of Coinbase Global by 219.2% in the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock valued at $9,558,000 after purchasing an additional 36,843 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $1,207,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 7,575 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $200.00, for a total transaction of $1,515,000.00. Following the completion of the sale, the chief financial officer now directly owns 114,866 shares of the company’s stock, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick Ernest Ehrsam III sold 10,216 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $310.14, for a total transaction of $3,168,390.24. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at $3,230,728.38. This represents a 49.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,611 shares of company stock valued at $34,376,005 over the last 90 days. 23.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on COIN shares. Barclays lowered their target price on Coinbase Global from $328.00 to $169.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. Sanford C. Bernstein raised shares of Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Mizuho cut their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods lifted their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 18th. Finally, Rosenblatt Securities reduced their price target on Coinbase Global from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $297.95.

Coinbase Global Stock Performance

Shares of COIN stock opened at $175.00 on Tuesday. The company’s fifty day simple moving average is $198.17 and its 200-day simple moving average is $242.51. 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 52 week low of $142.58 and a 52 week high of $349.75. The company has a market cap of $44.43 billion, a PE ratio of 18.42 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 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.