Geode Capital Management LLC Boosts Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Geode Capital Management LLC raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,552,694 shares of the cryptocurrency exchange’s stock after purchasing an additional 127,075 shares during the period. Geode Capital Management LLC owned 1.42% of Coinbase Global worth $882,822,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of COIN. Vanguard Group Inc. boosted its position in shares of Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 18,419,097 shares of the cryptocurrency exchange’s stock worth $4,573,462,000 after acquiring an additional 128,802 shares during the last quarter. Norges Bank purchased a new position in Coinbase Global during the fourth quarter worth approximately $536,484,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coinbase Global by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,032 shares of the cryptocurrency exchange’s stock valued at $232,168,000 after purchasing an additional 15,954 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Coinbase Global by 30,664.4% during the 4th quarter. Proficio Capital Partners LLC now owns 418,396 shares of the cryptocurrency exchange’s stock valued at $103,888,000 after buying an additional 417,036 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Coinbase Global by 614.8% during the 4th quarter. Franklin Resources Inc. now owns 343,348 shares of the cryptocurrency exchange’s stock worth $85,253,000 after buying an additional 295,313 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the topic of a number of research analyst reports. Barclays lifted their target price on Coinbase Global from $282.00 to $328.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. JMP Securities boosted their target price on Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods increased their target price on shares of Coinbase Global from $255.00 to $305.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They set a “neutral” rating and a $195.00 price objective for the company. Finally, Bank of America cut their target price on shares of Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Coinbase Global has a consensus rating of “Moderate Buy” and an average target price of $314.72.

Coinbase Global Trading Up 4.8 %

NASDAQ COIN opened at $182.95 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.28 and a current ratio of 2.28. Coinbase Global, Inc. has a one year low of $146.12 and a one year high of $349.75. The company has a 50-day simple moving average of $232.25 and a 200-day simple moving average of $242.55. The firm has a market capitalization of $46.45 billion, a PE ratio of 19.26 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Insider Activity

In other news, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the completion of the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at approximately $38,554,708.90. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total value of $6,526,750.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $137,322.82. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 215,609 shares of company stock valued at $58,765,008. 23.43% of the stock is currently owned by company insiders.

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.