B. Metzler seel. Sohn & Co. AG Buys 3,311 Shares of Coinbase Global, Inc. $COIN

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in Coinbase Global, Inc. by 30.5%, acquiring an additional 3,311 shares valued at approximately $2.4 million.
• Coinbase's CEO, Brian Armstrong, sold 336,265 shares of the company's stock, leading to a drastic reduction in his ownership.
• Currently, 68.84% of Coinbase's stock is owned by institutional investors, indicating strong institutional interest in the company.

B. Metzler seel. Sohn & Co. AG grew its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 30.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,156 shares of the cryptocurrency exchange's stock after acquiring an additional 3,311 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Coinbase Global were worth $2,438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mascagni Wealth Management Inc. bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $25,000. Copia Wealth Management bought a new position in shares of Coinbase Global during the fourth quarter valued at approximately $26,000. Bessemer Group Inc. boosted its stake in shares of Coinbase Global by 297.4% during the first quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after purchasing an additional 113 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Coinbase Global during the first quarter valued at approximately $30,000. Finally, S Bank Fund Management Ltd bought a new position in shares of Coinbase Global during the first quarter valued at approximately $31,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on COIN. Canaccord Genuity Group reiterated a "buy" rating and set a $400.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. William Blair began coverage on shares of Coinbase Global in a research note on Wednesday, June 11th. They set an "outperform" rating on the stock. HC Wainwright reiterated a "sell" rating and set a $300.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. JMP Securities raised their target price on shares of Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Coinbase Global from $355.00 to $335.00 and set a "market perform" rating for the company in a research note on Monday, August 4th. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $352.72.

Insider Activity

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total value of $121,933,051.65. Following the completion of the transaction, the chief executive officer owned 526 shares of the company's stock, valued at approximately $190,732.86. This trade represents a 99.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 1,195,871 shares of company stock valued at $442,626,576 over the last three months. Company insiders own 17.65% of the company's stock.

Coinbase Global Price Performance

Shares of COIN opened at $308.47 on Friday. The company has a 50 day moving average of $348.51 and a two-hundred day moving average of $263.03. The company has a market cap of $79.26 billion, a price-to-earnings ratio of 29.83 and a beta of 3.70. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a quick ratio of 2.13, a current ratio of 2.12 and a debt-to-equity ratio of 0.25.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The company's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. As a group, analysts predict that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.