Kestra Advisory Services LLC Buys 5,348 Shares of Coinbase Global, Inc. $COIN

Key Points

• Kestra Advisory Services LLC increased its holdings in Coinbase Global, Inc. by 31.5% during the first quarter, acquiring an additional 5,348 shares, bringing its total to 22,318 shares valued at approximately $3.84 million.
• Coinbase Global's recent quarterly earnings report showed an EPS of $0.12, missing analysts' estimates of $0.91, with revenue of $1.50 billion against a consensus of $1.68 billion.
• Thirteen analysts have rated Coinbase Global's stock as a "Buy," while ten recommended it as a "Hold," with a consensus price target of $352.72.

Kestra Advisory Services LLC grew its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 31.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,318 shares of the cryptocurrency exchange's stock after buying an additional 5,348 shares during the quarter. Kestra Advisory Services LLC's holdings in Coinbase Global were worth $3,844,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in COIN. Vivaldi Capital Management LP boosted its stake in Coinbase Global by 0.3% in the 4th quarter. Vivaldi Capital Management LP now owns 13,843 shares of the cryptocurrency exchange's stock worth $3,437,000 after buying an additional 47 shares during the last quarter. Brooklyn Investment Group boosted its stake in Coinbase Global by 7.1% in the 1st quarter. Brooklyn Investment Group now owns 720 shares of the cryptocurrency exchange's stock worth $124,000 after buying an additional 48 shares during the last quarter. Rede Wealth LLC boosted its stake in Coinbase Global by 0.6% in the 1st quarter. Rede Wealth LLC now owns 8,027 shares of the cryptocurrency exchange's stock worth $1,382,000 after buying an additional 50 shares during the last quarter. Callan Capital LLC boosted its stake in Coinbase Global by 5.1% in the 1st quarter. Callan Capital LLC now owns 1,247 shares of the cryptocurrency exchange's stock worth $215,000 after buying an additional 61 shares during the last quarter. Finally, TRU Independence Asset Management 2 LLC boosted its stake in Coinbase Global by 2.7% in the 1st quarter. TRU Independence Asset Management 2 LLC now owns 2,493 shares of the cryptocurrency exchange's stock worth $429,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JMP Securities lifted their price objective on Coinbase Global from $400.00 to $440.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Jefferies Financial Group lifted their price objective on Coinbase Global from $260.00 to $405.00 and gave the company a "hold" rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. reduced their price target on Coinbase Global from $276.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Citigroup boosted their price target on Coinbase Global from $270.00 to $505.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Piper Sandler reissued a "neutral" rating and set a $350.00 price target on shares of Coinbase Global in a research report on Thursday, July 31st. Thirteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $352.72.

Coinbase Global Stock Performance

COIN traded down $4.32 during trading on Friday, reaching $304.15. 4,871,329 shares of the company were exchanged, compared to its average volume of 11,400,487. The stock has a market cap of $78.15 billion, a P/E ratio of 29.47 and a beta of 3.70. The firm has a 50 day moving average of $348.51 and a 200 day moving average of $263.03. The company has a current ratio of 2.12, a quick ratio of 2.13 and a debt-to-equity ratio of 0.25. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm posted $0.14 EPS. The firm's quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 336,265 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $362.61, for a total value of $121,933,051.65. Following the transaction, the chief executive officer directly owned 526 shares of the company's stock, valued at $190,732.86. This represents a 99.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,195,871 shares of company stock worth $442,626,576 over the last quarter. 17.65% of the stock is currently owned by insiders.

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.