Zurcher Kantonalbank Zurich Cantonalbank Buys 15,409 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 22.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,005 shares of the cryptocurrency exchange’s stock after buying an additional 15,409 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Coinbase Global were worth $20,858,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Simplicity Wealth LLC bought a new stake in Coinbase Global during the 4th quarter worth $530,000. SLT Holdings LLC acquired a new stake in shares of Coinbase Global during the fourth quarter valued at about $805,000. Larson Financial Group LLC boosted its stake in shares of Coinbase Global by 43.1% during the fourth quarter. Larson Financial Group LLC now owns 760 shares of the cryptocurrency exchange’s stock valued at $189,000 after purchasing an additional 229 shares in the last quarter. Intellectus Partners LLC grew its holdings in shares of Coinbase Global by 3.8% during the fourth quarter. Intellectus Partners LLC now owns 4,755 shares of the cryptocurrency exchange’s stock worth $1,181,000 after purchasing an additional 175 shares during the last quarter. Finally, AMF Tjanstepension AB acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $4,638,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coinbase Global

In related news, CFO Alesia J. Haas sold 20,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the sale, the chief financial officer now owns 124,470 shares in the company, valued at $37,341,000. This represents a 13.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 5,262 shares of Coinbase Global stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.09, for a total value of $1,579,073.58. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at $3,126,037.53. This trade represents a 33.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 7.0 %

NASDAQ:COIN opened at $191.69 on Wednesday. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month 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 capitalization of $48.67 billion, a price-to-earnings ratio of 20.18 and a beta of 3.66. The firm has a fifty day simple moving average of $259.55 and a two-hundred day simple moving average of $241.43.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating 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%. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Monness Crespi & Hardt set a $420.00 target price on shares of Coinbase Global in a research report on Tuesday, February 18th. Bank of America reduced 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. Rosenblatt Securities assumed coverage on Coinbase Global in a report on Friday, March 7th. They issued a “buy” rating and a $305.00 price objective for the company. The Goldman Sachs Group cut their target price on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $350.00 price target on shares of Coinbase Global in a research note on Friday, February 21st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.89.

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.