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

Metis Global Partners LLC trimmed its stake in shares of 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 and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC boosted its holdings in shares of Coinbase Global by 135.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,680 shares of the cryptocurrency exchange’s stock worth $477,000 after buying an additional 1,540 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Coinbase Global during the third quarter worth approximately $29,756,000. Lindbrook Capital LLC boosted its holdings in shares of Coinbase Global by 30.2% during the third quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after acquiring an additional 6,963 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Coinbase Global during the second quarter worth approximately $2,908,000. Finally, QRG Capital Management Inc. grew its position in shares of Coinbase Global by 237.5% in the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock valued at $5,834,000 after purchasing an additional 23,040 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on COIN shares. Barclays lifted their price target on Coinbase Global from $175.00 to $204.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Mizuho boosted their price objective on shares of Coinbase Global from $160.00 to $178.00 and gave the company an “underperform” rating in a report on Thursday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a report on Thursday, October 31st. Bank of America boosted their price target on Coinbase Global from $196.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Monness Crespi & Hardt began coverage on Coinbase Global in a report on Monday, October 28th. They issued a “buy” rating and a $245.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $251.00.

Insider Buying and Selling

In other news, insider Paul Grewal sold 16,962 shares of Coinbase Global stock in a transaction on Monday, August 26th. The shares were sold at an average price of $206.96, for a total transaction of $3,510,455.52. Following the transaction, the insider now owns 75,556 shares in the company, valued at approximately $15,637,069.76. The trade was a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gokul Rajaram sold 400 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $204.44, for a total value of $81,776.00. Following the completion of the sale, the director now owns 7,771 shares of the company’s stock, valued at $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 have sold 135,822 shares of company stock worth $30,921,194 in the last 90 days. Insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 6.4 %

COIN opened at $325.41 on Tuesday. The company has a market cap of $81.47 billion, a P/E ratio of 55.53 and a beta of 3.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $202.13 and its 200-day moving average is $212.58. Coinbase Global, Inc. has a 1-year low of $100.01 and a 1-year high of $334.86.

Coinbase Global (NASDAQ:COIN) last issued 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). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.26 billion. Coinbase Global had a net margin of 29.76% and a return on equity of 14.81%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. Equities research analysts predict that Coinbase Global, Inc. will post 4.27 earnings per share for the current fiscal year.

Coinbase Global 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.