Metis Global Partners LLC Sells 1,167 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Metis Global Partners LLC trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 30.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,618 shares of the cryptocurrency exchange’s stock after selling 1,167 shares during the quarter. Metis Global Partners LLC’s holdings in Coinbase Global were worth $466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COIN. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Coinbase Global by 2.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,201,106 shares of the cryptocurrency exchange’s stock worth $570,341,000 after buying an additional 71,398 shares during the period. Cowen AND Company LLC grew its holdings in Coinbase Global by 1.5% during the 2nd quarter. Cowen AND Company LLC now owns 1,488,975 shares of the cryptocurrency exchange’s stock worth $330,895,000 after acquiring an additional 22,071 shares during the period. Renaissance Technologies LLC raised its position in shares of Coinbase Global by 185.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,063,117 shares of the cryptocurrency exchange’s stock valued at $236,258,000 after acquiring an additional 691,288 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Coinbase Global by 1,186.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 527,512 shares of the cryptocurrency exchange’s stock valued at $139,854,000 after purchasing an additional 486,512 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Coinbase Global by 1,136.7% in the 2nd quarter. American Century Companies Inc. now owns 474,234 shares of the cryptocurrency exchange’s stock worth $105,389,000 after purchasing an additional 435,886 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Trading Up 6.4 %

NASDAQ:COIN opened at $325.41 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a twelve month low of $100.01 and a twelve month high of $334.86. The company has a market cap of $81.47 billion, a P/E ratio of 55.53 and a beta of 3.34. The business has a 50 day moving average price of $202.13 and a two-hundred day moving average price of $212.58.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was up 78.8% on a year-over-year basis. As a group, analysts expect that Coinbase Global, Inc. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Mizuho increased their target price on Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. B. Riley initiated coverage on shares of Coinbase Global in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 price target on the stock. Compass Point reduced their price objective on shares of Coinbase Global from $325.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Bank of America upped their target price on shares of Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $245.00 target price on shares of Coinbase Global in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and a consensus price target of $251.00.

Insider Activity

In related news, CEO Brian Armstrong sold 23,075 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $173.93, for a total value of $4,013,434.75. Following the completion of the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $91,487.18. This trade represents a 97.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $204.44, for a total transaction of $81,776.00. Following the transaction, the director now owns 7,771 shares in the company, valued at approximately $1,588,703.24. The trade was a 4.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,822 shares of company stock worth $30,921,194 in the last quarter. 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.