Metis Global Partners LLC Raises Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Metis Global Partners LLC raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 55.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,065 shares of the cryptocurrency exchange’s stock after buying an additional 1,447 shares during the quarter. Metis Global Partners LLC’s holdings in Coinbase Global were worth $1,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake 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 acquiring an additional 314,388 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Coinbase Global by 2.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after purchasing an additional 71,398 shares during the period. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global during the third quarter valued at approximately $409,919,000. Charles Schwab Investment Management Inc. increased its stake in shares of Coinbase Global by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 919,078 shares of the cryptocurrency exchange’s stock valued at $163,752,000 after purchasing an additional 52,856 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Coinbase Global by 30,664.4% during the fourth quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after purchasing an additional 417,036 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on COIN shares. The Goldman Sachs Group reduced their price objective on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Bank of America reduced their price target on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Oppenheimer reissued an “outperform” rating on shares of Coinbase Global in a research report on Monday, February 10th. 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 report on Tuesday, February 18th. Finally, Barclays increased their price target on shares of Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average target price of $311.56.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 5,700 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total value of $1,521,159.00. Following the completion of the sale, the chief financial officer now directly owns 144,470 shares of the company’s stock, valued at approximately $38,554,708.90. This represents a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frederick Ernest Ehrsam III sold 11,421 shares of Coinbase Global stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $273.23, for a total transaction of $3,120,559.83. Following the transaction, the director now directly owns 10,417 shares in the company, valued at $2,846,236.91. This represents a 52.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,455 shares of company stock worth $60,955,968 in the last 90 days. 23.43% of the stock is currently owned by insiders.

Coinbase Global Trading Up 3.3 %

Shares of NASDAQ:COIN opened at $212.55 on Wednesday. The stock’s 50-day simple moving average is $265.52 and its two-hundred day simple moving average is $241.38. The stock has a market capitalization of $53.96 billion, a price-to-earnings ratio of 22.37 and a beta of 3.61. Coinbase Global, Inc. has a 52-week low of $146.12 and a 52-week high of $349.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Analysts expect that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.