Kestra Private Wealth Services LLC Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Kestra Private Wealth Services LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 35.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,552 shares of the cryptocurrency exchange’s stock after purchasing an additional 4,829 shares during the period. Kestra Private Wealth Services LLC’s holdings in Coinbase Global were worth $4,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COIN. Clear Street Derivatives LLC bought a new position in shares of Coinbase Global during the third quarter valued at approximately $409,919,000. Geode Capital Management LLC increased its position in Coinbase Global by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,425,619 shares of the cryptocurrency exchange’s stock valued at $609,789,000 after purchasing an additional 314,388 shares during the period. Azora Capital LP raised its holdings in Coinbase Global by 214.1% in the 3rd quarter. Azora Capital LP now owns 322,868 shares of the cryptocurrency exchange’s stock worth $57,525,000 after purchasing an additional 220,078 shares in the last quarter. Holocene Advisors LP bought a new position in Coinbase Global in the 3rd quarter worth $38,535,000. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Coinbase Global in the 3rd quarter worth about $29,756,000. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Mizuho upgraded shares of Coinbase Global from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $250.00 to $290.00 in a research report on Wednesday, January 29th. Oppenheimer reduced their target price on Coinbase Global from $358.00 to $334.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. B. Riley began coverage on Coinbase Global in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $185.00 target price for the company. Needham & Company LLC reduced their price target on Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Monness Crespi & Hardt raised their price objective on Coinbase Global from $245.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.06.

Insider Transactions at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 15,228 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $280.51, for a total value of $4,271,606.28. Following the transaction, the director now owns 10,417 shares in the company, valued at $2,922,072.67. This represents a 59.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alesia J. Haas sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the sale, the chief financial officer now owns 144,470 shares of the company’s stock, valued at $38,554,708.90. This trade represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 361,798 shares of company stock worth $107,826,444 over the last three months. 23.43% of the stock is currently owned by company insiders.

Coinbase Global Trading Up 2.1 %

Coinbase Global stock opened at $280.22 on Tuesday. Coinbase Global, Inc. has a one year low of $137.13 and a one year high of $349.75. The business’s fifty day moving average is $284.78 and its 200 day moving average is $237.03. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $70.15 billion, a PE ratio of 47.82 and a beta of 3.61.

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.