Kera Capital Partners Inc. Increases Stock Position in Coinbase Global, Inc. $COIN

Key Points

• Kera Capital Partners Inc. increased its stake in Coinbase Global by 3.0% during the 2nd quarter, owning 36,960 shares valued at approximately $12.95 million.
• Coinbase Global's stock currently has an average rating of "Hold" from analysts, with a price target averaging $352.72.
• Recent insider activity includes significant stock sales by CEO Brian Armstrong and Lawrence J. Brock, indicating a substantial decrease in their ownership stakes.

Kera Capital Partners Inc. lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,960 shares of the cryptocurrency exchange's stock after purchasing an additional 1,085 shares during the quarter. Coinbase Global accounts for 2.6% of Kera Capital Partners Inc.'s holdings, making the stock its 6th largest position. Kera Capital Partners Inc.'s holdings in Coinbase Global were worth $12,954,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in COIN. Captrust Financial Advisors increased its holdings in shares of Coinbase Global by 3.0% during the fourth quarter. Captrust Financial Advisors now owns 4,323 shares of the cryptocurrency exchange's stock worth $1,073,000 after purchasing an additional 125 shares during the period. Focus Partners Wealth increased its holdings in shares of Coinbase Global by 122.8% during the fourth quarter. Focus Partners Wealth now owns 4,735 shares of the cryptocurrency exchange's stock worth $1,202,000 after purchasing an additional 2,610 shares during the period. Gotham Asset Management LLC bought a new position in shares of Coinbase Global during the fourth quarter worth approximately $446,000. Janus Henderson Group PLC increased its holdings in shares of Coinbase Global by 12.7% during the fourth quarter. Janus Henderson Group PLC now owns 17,499 shares of the cryptocurrency exchange's stock worth $4,343,000 after purchasing an additional 1,975 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of Coinbase Global by 21.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 7,255 shares of the cryptocurrency exchange's stock worth $1,801,000 after purchasing an additional 1,279 shares during the period. 68.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on COIN shares. Oppenheimer reaffirmed an "outperform" rating and set a $417.00 target price on shares of Coinbase Global in a report on Thursday, July 31st. William Blair assumed coverage on shares of Coinbase Global in a research note on Wednesday, June 11th. They issued an "outperform" rating on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $470.00 price objective on shares of Coinbase Global in a research note on Friday, August 1st. China Renaissance assumed coverage on shares of Coinbase Global in a research note on Tuesday, June 17th. They issued a "buy" rating and a $353.30 price objective on the stock. Finally, Monness Crespi & Hardt cut shares of Coinbase Global from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Thirteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and an average price target of $352.72.

Coinbase Global Stock Performance

NASDAQ COIN opened at $323.04 on Friday. The firm's fifty day moving average price is $340.68 and its two-hundred day moving average price is $266.90. The stock has a market cap of $83.00 billion, a PE ratio of 31.24 and a beta of 3.68. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.13 and a current ratio of 2.12.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, July 31st. The cryptocurrency exchange reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.79). The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.68 billion. Coinbase Global had a return on equity of 16.02% and a net margin of 40.87%.The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. On average, equities analysts expect that Coinbase Global, Inc. will post 7.22 EPS 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 on 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 owned 478 shares of the company's stock, valued at approximately $148,834.86. The trade was a 92.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian Armstrong sold 25,000 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $302.19, for a total transaction of $7,554,750.00. Following the sale, the chief executive officer directly owned 526 shares in the company, valued at approximately $158,951.94. The trade was a 97.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,180,871 shares of company stock worth $440,664,276. Corporate insiders own 17.65% 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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