Coinbase Global, Inc. (NASDAQ:COIN) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,552,694 shares of the cryptocurrency exchange’s stock after buying an additional 127,075 shares during the quarter. Geode Capital Management LLC’s holdings in Coinbase Global were worth $882,822,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in Coinbase Global by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 10,405 shares of the cryptocurrency exchange’s stock worth $1,854,000 after buying an additional 186 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Coinbase Global by 481.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 11,687 shares of the cryptocurrency exchange’s stock worth $2,082,000 after acquiring an additional 9,678 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Coinbase Global by 36.8% in the 3rd quarter. Janus Henderson Group PLC now owns 15,524 shares of the cryptocurrency exchange’s stock worth $2,767,000 after acquiring an additional 4,177 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Coinbase Global during the third quarter worth $450,000. Finally, Investment Management Corp of Ontario lifted its holdings in shares of Coinbase Global by 53.3% during the third quarter. Investment Management Corp of Ontario now owns 6,331 shares of the cryptocurrency exchange’s stock valued at $1,128,000 after purchasing an additional 2,200 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Performance

COIN stock opened at $182.95 on Thursday. The company has a market capitalization of $46.45 billion, a price-to-earnings ratio of 19.26 and a beta of 3.66. The firm has a 50 day moving average of $232.25 and a two-hundred day moving average of $242.55. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 12 month low of $146.12 and a 12 month high of $349.75.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Barclays lifted their price target on Coinbase Global from $282.00 to $328.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Bank of America decreased their price objective on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. HC Wainwright reissued a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday, February 21st. Finally, Monness Crespi & Hardt set a $420.00 target price on Coinbase Global in a research report on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.72.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 25,194 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $298.95, for a total value of $7,531,746.30. Following the sale, the director now directly owns 10,417 shares of the company’s stock, valued at approximately $3,114,162.15. This trade represents a 70.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares of the company’s stock, valued at $137,322.82. This represents a 97.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,609 shares of company stock valued at $58,765,008. 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.