Pictet Asset Management SA lifted its holdings inCoinbase Global, Inc.(NASDAQ:COIN) by 6.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 39,222 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,374 shares during the quarter. Pictet Asset Management SA’s holdings in Coinbase Global were worth $2,529,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC lifted its stake in Coinbase Global by 3,355.6% in the first quarter. Lazard Asset Management LLC now owns 311 shares of the cryptocurrency exchange’s stock worth $59,000 after purchasing an additional 302 shares during the last quarter. BDO Wealth Advisors LLC increased its stake in Coinbase Global by 133.5% in the 3rd quarter. BDO Wealth Advisors LLC now owns 390 shares of the cryptocurrency exchange’s stock worth $25,000 after purchasing an additional 223 shares during the period. Ellevest Inc. bought a new stake in Coinbase Global in the third quarter valued at approximately $26,000. Guardian Wealth Advisors LLC bought a new stake in Coinbase Global in the third quarter valued at approximately $29,000. Finally, Wipfli Financial Advisors LLC bought a new position in shares of Coinbase Global in the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 46.41% of the company’s stock.
Coinbase Global Trading Down 6.3 %
NASDAQ:COINopened at $58.44 . The stock has a market cap of $13.26 billion, a price-to-earnings ratio of -4.93 and a beta of 2.71. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average price is $51.43 and its 200-day moving average price is $58.42. Coinbase Global, Inc. has a 52 week low of $31.55 and a 52 week high of $206.79.
Coinbase Global (NASDAQ:COIN–Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The cryptocurrency exchange reported ($2.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.39) by ($0.07). Coinbase Global had a negative net margin of 82.18% and a negative return on equity of 44.89%. The company had revenue of $629.10 million for the quarter, compared to analysts’ expectations of $587.37 million. During the same period in the previous year, the business earned $3.32 EPS. The business’s revenue was down 74.7% compared to the same quarter last year. On average, equities research analysts forecast that Coinbase Global, Inc. will post -4.07 earnings per share for the current fiscal year.Analyst Upgrades and Downgrades
COIN has been the subject of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Coinbase Global from $41.00 to $30.00 and set a “sell” rating for the company in a research report on Monday, January 9th. Jefferies Financial Group raised their target price on Coinbase Global from $35.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, February 22nd. Wedbush lowered their price target on Coinbase Global from $100.00 to $75.00 in a research report on Friday, November 4th. JPMorgan Chase & Co. lifted their price objective on Coinbase Global from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. Finally, BTIG Research decreased their target price on Coinbase Global from $220.00 to $110.00 in a report on Friday, November 4th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $69.54.
Insider Transactions at Coinbase Global
In other Coinbase Global news, CEOBrian Armstrongsold 14,866 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $46.86, for a total transaction of $696,620.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed throughthis link. In other news, DirectorTobias Lutkebought 4,960 shares of the stock in a transaction that occurred on Tuesday, February 7th. The shares were bought at an average price of $72.95 per share, for a total transaction of $361,832.00. Following the purchase, the director now owns 208,830 shares in the company, valued at $15,234,148.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible throughthe SEC website. Also, CEOBrian Armstrongsold 14,866 shares of the company’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $46.86, for a total value of $696,620.76. The disclosure for this sale can be foundhere. In the last quarter, insiders have acquired 92,958 shares of company stock worth $4,095,428 and have sold 437,526 shares worth $18,801,770. Company insiders own 36.10% of the company’s stock.
Coinbase Global Company Profile
Coinbase Global, Inc provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment.
source：defenseworld
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