Kera Capital Partners Inc. Sells 38,252 Shares of Coinbase Global, Inc. $COIN

Key Points

• Kera Capital Partners sharply reduced its Coinbase stake in the first quarter, selling 38,252 shares and cutting its position by 91.9%. It ended the period with 3,392 shares valued at about $592,000.
• Coinbase remains heavily owned by institutions, with several big investors either adding or establishing large positions. The article notes that 68.84% of the stock is held by institutional investors.
• Analyst sentiment is mixed: the stock has 18 Buy, 12 Hold, and 3 Sell ratings, with a consensus rating of Hold and an average target price of $245.39. Meanwhile, Coinbase recently reported a quarterly loss and revenue that missed expectations.

Kera Capital Partners Inc. cut its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 91.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,392 shares of the cryptocurrency exchange's stock after selling 38,252 shares during the period. Kera Capital Partners Inc.'s holdings in Coinbase Global were worth $592,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $656,744,000. Capital World Investors raised its holdings in shares of Coinbase Global by 847.2% in the fourth quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange's stock worth $347,472,000 after buying an additional 1,374,318 shares during the period. Ruffer LLP purchased a new stake in shares of Coinbase Global in the fourth quarter worth approximately $166,515,000. Janus Henderson Group PLC lifted its stake in shares of Coinbase Global by 2,597.8% during the 4th quarter. Janus Henderson Group PLC now owns 549,304 shares of the cryptocurrency exchange's stock worth $124,221,000 after acquiring an additional 528,943 shares during the last quarter. Finally, Cria Inc. bought a new stake in shares of Coinbase Global during the 4th quarter worth approximately $111,184,000. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Zacks Research raised Coinbase Global from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. Needham & Company LLC reiterated a "buy" rating and set a $220.00 target price on shares of Coinbase Global in a research report on Wednesday, June 17th. B. Riley Financial lowered their target price on shares of Coinbase Global from $243.00 to $203.00 and set a "neutral" rating for the company in a research note on Monday, June 1st. Citizens Jmp cut their price target on shares of Coinbase Global from $355.00 to $325.00 and set a "market outperform" rating on the stock in a report on Thursday, July 9th. Finally, Bank of America reduced their price target on shares of Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $245.39.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $159.09, for a total value of $1,590,900.00. Following the transaction, the director owned 20,000 shares in the company, valued at $3,181,800. The trade was a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the transaction, the insider owned 84,753 shares of the company's stock, valued at $14,991,110.64. This represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,627 shares of company stock worth $5,327,841 in the last three months. 16.66% of the stock is owned by company insiders.

Coinbase Global Trading Down 2.1%

NASDAQ:COIN opened at $157.12 on Friday. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $444.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The firm has a market cap of $41.39 billion, a P/E ratio of 59.07, a P/E/G ratio of 10.00 and a beta of 3.35. The firm has a 50-day simple moving average of $170.41 and a 200-day simple moving average of $187.07.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.Coinbase Global's revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. Equities analysts anticipate that Coinbase Global, Inc. will post 1.41 EPS for the current fiscal year.

Coinbase Global News Roundup

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase continues to benefit from progress on U.S. crypto regulation, including movement on the CLARITY Act and supportive comments from Coinbase policy leaders, which could improve long-term market structure and expand institutional adoption. Coinbase Policy Chief Calls CLARITY Act a ‘Dramatic Advance’: Here’s What Comes Next in the Senate
• Positive Sentiment: JPMorgan kept an Overweight rating on Coinbase even while cutting its price target, signaling that Wall Street still sees upside potential despite the pullback in expectations. JPMorgan slashes Coinbase price target
• Positive Sentiment: Coinbase joined a large stablecoin alliance and remains seen as a key player in new crypto payment and infrastructure initiatives, which could support future growth beyond spot trading. Coinbase Just Joined a 140-Company Stablecoin Alliance. Here's What It Means for the Stock.

About Coinbase Global

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase's product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.

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