Kera Capital Partners Inc. Purchases New Stake in Coinbase Global, Inc. (NASDAQ:COIN)

Kera Capital Partners Inc. acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, HoldingsChannel reports. The fund acquired 34,469 shares of the cryptocurrency exchange’s stock, valued at approximately $8,559,000. Coinbase Global comprises about 2.5% of Kera Capital Partners Inc.’s holdings, making the stock its 9th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Empowered Funds LLC boosted its stake in shares of Coinbase Global by 0.8% during the 3rd quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its holdings in Coinbase Global by 3.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after buying an additional 45 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Coinbase Global by 9.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 595 shares of the cryptocurrency exchange’s stock valued at $106,000 after acquiring an additional 51 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of Coinbase Global by 2.0% during the 4th quarter. Pallas Capital Advisors LLC now owns 2,625 shares of the cryptocurrency exchange’s stock worth $652,000 after acquiring an additional 51 shares during the period. Finally, Benjamin Edwards Inc. raised its position in shares of Coinbase Global by 3.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 2,009 shares of the cryptocurrency exchange’s stock worth $446,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, CEO Brian Armstrong sold 58,269 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $328.00, for a total transaction of $19,112,232.00. Following the completion of the sale, the chief executive officer now owns 526 shares in the company, valued at approximately $172,528. This trade represents a 99.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul Grewal sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $209.98, for a total value of $2,099,800.00. Following the completion of the transaction, the insider now directly owns 74,956 shares in the company, valued at approximately $15,739,260.88. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 347,033 shares of company stock valued at $102,613,277. Insiders own 23.43% of the company’s stock.

Coinbase Global Trading Up 4.9 %

Shares of COIN stock opened at $295.48 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48. Coinbase Global, Inc. has a 12-month low of $114.51 and a 12-month high of $349.75. The stock has a market capitalization of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59. The firm’s 50 day moving average is $291.21 and its 200 day moving average is $231.26.

Coinbase Global (NASDAQ:COIN) last released its quarterly 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). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The business’s quarterly revenue was up 78.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. Research analysts expect that Coinbase Global, Inc. will post 4.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. B. Riley started coverage on Coinbase Global in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $185.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Coinbase Global in a research report on Wednesday, October 9th. Needham & Company LLC boosted their price objective on shares of Coinbase Global from $375.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. HC Wainwright reaffirmed a “buy” rating and set a $295.00 target price on shares of Coinbase Global in a research note on Tuesday, October 29th. Finally, Oppenheimer lowered their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $282.83.

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.