Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 28.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508 shares of the cryptocurrency exchange’s stock after selling 200 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Coinbase Global were worth $87,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock valued at $4,573,462,000 after purchasing an additional 128,802 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Coinbase Global by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,552,694 shares of the cryptocurrency exchange’s stock valued at $882,822,000 after purchasing an additional 127,075 shares in the last quarter. Norges Bank acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $536,484,000. Groupama Asset Managment acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $372,450,000. Finally, Northern Trust Corp raised its stake in shares of Coinbase Global by 20.3% in the 4th quarter. Northern Trust Corp now owns 1,294,758 shares of the cryptocurrency exchange’s stock valued at $321,488,000 after purchasing an additional 218,400 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $242.71 on Friday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock has a market cap of $61.62 billion, a price-to-earnings ratio of 25.55 and a beta of 3.61. The company has a 50-day moving average price of $221.16 and a two-hundred day moving average price of $241.85.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter last year, the company posted $2.53 EPS. Coinbase Global’s revenue for the quarter was up 24.2% on a year-over-year basis. Analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COIN. Compass Point upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating and set a $195.00 target price on the stock in a research note on Monday, May 12th. Oppenheimer set a $293.00 target price on shares of Coinbase Global in a research note on Thursday, May 15th. Barclays upped their target price on shares of Coinbase Global from $169.00 to $202.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. JMP Securities reiterated a “market outperform” rating and set a $400.00 price objective on shares of Coinbase Global in a research note on Thursday, May 8th. Finally, Bank of America dropped their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Eleven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and an average price target of $266.10.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 12,931 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $267.29, for a total value of $3,456,326.99. Following the completion of the transaction, the insider now directly owns 84,280 shares in the company, valued at $22,527,201.20. This trade represents a 13.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Armstrong sold 15,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $168.53, for a total transaction of $2,527,950.00. Following the completion of the transaction, the chief executive officer now owns 526 shares of the company’s stock, valued at $88,646.78. This trade represents a 96.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,717 shares of company stock worth $49,363,601. Insiders own 17.65% of the company’s stock.

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.