Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 70,916 shares of the cryptocurrency exchange’s stock after selling 2,976 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Coinbase Global were worth $17,608,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of COIN. Norges Bank acquired a new position in Coinbase Global during the fourth quarter worth about $536,484,000. Proficio Capital Partners LLC grew its stake in shares of Coinbase Global by 30,664.4% in the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock worth $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Coinbase Global by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock worth $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Coinbase Global during the fourth quarter valued at approximately $56,142,000. Finally, Trivest Advisors Ltd bought a new stake in Coinbase Global during the fourth quarter worth approximately $54,869,000. Institutional investors own 68.84% of the company’s stock.

Insider Activity

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 value of $1,515,000.00. Following the transaction, the chief financial officer now directly owns 114,866 shares in the company, valued at approximately $22,973,200. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,609 shares of company stock valued at $61,331,908. Insiders own 23.43% of the company’s stock.

Coinbase Global Price Performance

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

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%. As a group, research analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COIN has been the topic of several research reports. Monness Crespi & Hardt set a $420.00 price target on Coinbase Global in a report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a report on Thursday, February 13th. Sanford C. Bernstein raised Coinbase Global to a “strong-buy” rating in a research note on Tuesday, March 18th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Bank of America dropped their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $314.72.

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.