Coinbase Global, Inc. $COIN Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 31.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 22,318 shares of the cryptocurrency exchange's stock after buying an additional 5,348 shares during the period. Kestra Advisory Services LLC's holdings in Coinbase Global were worth $3,844,000 as of its most recent filing with the SEC.

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Other hedge funds and other institutional investors have also modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $25,000. Copia Wealth Management acquired a new position in shares of Coinbase Global in the 4th quarter valued at about $26,000. Bessemer Group Inc. boosted its holdings in shares of Coinbase Global by 297.4% in the 1st quarter. Bessemer Group Inc. now owns 151 shares of the cryptocurrency exchange's stock valued at $26,000 after buying an additional 113 shares during the period. McClarren Financial Advisors Inc. acquired a new position in shares of Coinbase Global in the 1st quarter valued at about $30,000. Finally, S Bank Fund Management Ltd acquired a new position in shares of Coinbase Global in the 1st quarter valued at about $31,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COIN has been the subject of several research reports. Oppenheimer reaffirmed an "outperform" rating and issued a $417.00 price target on shares of Coinbase Global in a report on Thursday, July 31st. The Goldman Sachs Group lifted their price objective on shares of Coinbase Global from $239.00 to $268.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. Wall Street Zen upgraded shares of Coinbase Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Erste Group Bank assumed coverage on shares of Coinbase Global in a research report on Wednesday, July 23rd. They issued a "buy" rating on the stock. Finally, Compass Point reiterated a "sell" rating and issued a $248.00 price objective (down from $330.00) on shares of Coinbase Global in a research report on Monday, August 4th. Thirteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $352.72.

• Why Citigroup Analysts See Double-Digit Upside in Coinbase Stock

Read Our Latest Research Report on COIN

Coinbase Global Stock Up 0.8%

COIN stock opened at $308.48 on Wednesday. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64. The company has a market capitalization of $79.26 billion, a price-to-earnings ratio of 29.83 and a beta of 3.70. The firm's 50-day moving average is $347.98 and its two-hundred day moving average is $262.52. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25.

• 3 Surprising Earnings Winners Changing Their Market Narrative

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

Insider Activity at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 5,903 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $311.37, for a total transaction of $1,838,017.11. Following the sale, the insider directly owned 478 shares in the company, valued at approximately $148,834.86. The trade was a 92.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total transaction of $3,486,400.00. Following the completion of the transaction, the insider directly owned 82,328 shares in the company, valued at $28,702,833.92. This represents a 10.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,180,432 shares of company stock valued at $437,828,135 over the last quarter. Corporate insiders own 23.43% of the company's stock.

About Coinbase Global

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.

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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).

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