Metis Global Partners LLC Acquires 1,447 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Metis Global Partners LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 55.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,065 shares of the cryptocurrency exchange's stock after purchasing an additional 1,447 shares during the period. Metis Global Partners LLC's holdings in Coinbase Global were worth $1,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clear Street Derivatives LLC purchased a new position in Coinbase Global during the 3rd quarter worth approximately $409,919,000. Proficio Capital Partners LLC grew its holdings in 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 worth $103,888,000 after acquiring an additional 417,036 shares during the period. Geode Capital Management LLC increased its holdings in shares of Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange's stock valued at $609,789,000 after purchasing an additional 314,388 shares in the last quarter. Azora Capital LP raised its holdings in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange's stock worth $57,525,000 after purchasing an additional 220,078 shares during the period. Finally, Holocene Advisors LP acquired a new stake in Coinbase Global in the 3rd quarter valued at $38,535,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

Coinbase Global stock traded up $9.90 during midday trading on Wednesday, hitting $222.45. The company's stock had a trading volume of 9,551,735 shares, compared to its average volume of 9,299,784. The company has a market capitalization of $56.48 billion, a PE ratio of 23.42 and a beta of 3.61. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average price is $264.38 and its 200-day moving average price is $241.24.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly 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 net margin of 39.34% and a return on equity of 20.64%. Analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COIN. HC Wainwright reaffirmed a "buy" rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Oppenheimer reaffirmed an "outperform" rating on shares of Coinbase Global in a research note on Monday, February 10th. Mizuho decreased their target price on shares of Coinbase Global from $290.00 to $280.00 and set a "neutral" rating on the stock in a research note on Thursday, February 20th. Piper Sandler upped their price objective on shares of Coinbase Global from $285.00 to $310.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Keefe, Bruyette & Woods lifted their target price on Coinbase Global from $255.00 to $305.00 and gave the company a "market perform" rating in a research report on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global has an average rating of "Moderate Buy" and a consensus target price of $311.56.

Insiders Place Their Bets

In related news, CEO Brian Armstrong sold 25,000 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of Coinbase Global stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the completion of the transaction, the insider now owns 83,313 shares in the company, valued at $17,656,524.09. This trade represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock valued at $60,955,968 over the last ninety days. Corporate insiders own 23.43% 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.