Coinbase Global, Inc. (NASDAQ:COIN) Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 10.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,425,619 shares of the cryptocurrency exchange’s stock after purchasing an additional 314,388 shares during the quarter. Geode Capital Management LLC owned approximately 1.37% of Coinbase Global worth $609,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC purchased a new position in shares of Coinbase Global in the third quarter worth approximately $25,000. Crewe Advisors LLC raised its stake in Coinbase Global by 547.4% during the 2nd quarter. Crewe Advisors LLC now owns 123 shares of the cryptocurrency exchange’s stock valued at $27,000 after purchasing an additional 104 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at $32,000. Spirit of America Management Corp NY acquired a new stake in shares of Coinbase Global in the second quarter worth $33,000. Finally, Continuum Advisory LLC grew its holdings in shares of Coinbase Global by 3,000.0% during the second quarter. Continuum Advisory LLC now owns 155 shares of the cryptocurrency exchange’s stock valued at $34,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the subject of a number of research reports. Monness Crespi & Hardt started coverage on Coinbase Global in a research report on Monday, October 28th. They set a “buy” rating and a $245.00 price objective for the company. Barclays raised their price target on shares of Coinbase Global from $204.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday. Bank of America upped their price objective 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. Needham & Company LLC lifted their target price on shares of Coinbase Global from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Monday. Finally, HC Wainwright restated a “buy” rating and issued a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average price target of $276.22.

Insider Activity

In other Coinbase Global news, CAO Jennifer N. Jones sold 1,837 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $295.02, for a total value of $541,951.74. Following the completion of the transaction, the chief accounting officer now owns 1,160 shares of the company’s stock, valued at $342,223.20. This represents a 61.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $325.14, for a total value of $2,475,615.96. Following the sale, the director now directly owns 10,417 shares in the company, valued at $3,386,983.38. The trade was a 42.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,720 shares of company stock valued at $79,787,248. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $312.96 on Friday. Coinbase Global, Inc. has a 12 month low of $114.51 and a 12 month high of $349.75. The company has a market cap of $78.35 billion, a P/E ratio of 53.41 and a beta of 3.56. The business’s 50 day moving average is $254.08 and its two-hundred day moving average is $224.63. 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 (NASDAQ:COIN) last announced its earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.13). Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the firm posted ($0.01) EPS. The company’s revenue was up 78.8% compared to the same quarter last year. On average, equities analysts expect that Coinbase Global, Inc. will post 4.44 EPS for the current 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.