Kingswood Wealth Advisors LLC Purchases 1,454 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Kingswood Wealth Advisors LLC increased its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 124.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,622 shares of the cryptocurrency exchange's stock after purchasing an additional 1,454 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Coinbase Global were worth $453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. KCM Investment Advisors LLC bought a new stake in Coinbase Global during the fourth quarter worth about $507,000. Principal Securities Inc. lifted its holdings in shares of Coinbase Global by 35.3% in the fourth quarter. Principal Securities Inc. now owns 1,032 shares of the cryptocurrency exchange's stock worth $256,000 after acquiring an additional 269 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Coinbase Global by 10.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock worth $610,000 after acquiring an additional 232 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of Coinbase Global by 87.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,355 shares of the cryptocurrency exchange's stock worth $578,000 after acquiring an additional 1,561 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Coinbase Global by 18.8% in the fourth quarter. Truist Financial Corp now owns 6,577 shares of the cryptocurrency exchange's stock worth $1,633,000 after acquiring an additional 1,040 shares during the last quarter. Institutional investors own 68.84% of the company's stock.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 6,080 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $247.47, for a total transaction of $1,504,617.60. Following the transaction, the chief financial officer now directly owns 100,366 shares in the company, valued at approximately $24,837,574.02. This represents a 5.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Grewal sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $198.12, for a total value of $1,981,200.00. Following the transaction, the insider now owns 83,313 shares in the company, valued at $16,505,971.56. The trade was a 10.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 228,538 shares of company stock worth $51,299,116. Corporate insiders own 17.65% of the company's stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $308.38 on Friday. The company has a market capitalization of $78.29 billion, a PE ratio of 57.75, a P/E/G ratio of 22.47 and a beta of 3.61. The company has a 50 day simple moving average of $232.43 and a two-hundred day simple moving average of $240.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($0.24). The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The business's revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.53 EPS. Research analysts anticipate that Coinbase Global, Inc. will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the subject of a number of research reports. Barclays increased their target price on shares of Coinbase Global from $169.00 to $202.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Compass Point upgraded Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price objective on the stock in a research report on Monday, May 12th. Cantor Fitzgerald started coverage on Coinbase Global in a research report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price objective on the stock. Bank of America reduced their price objective on Coinbase Global from $363.00 to $311.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Finally, Citigroup restated a "neutral" rating on shares of Coinbase Global in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $271.88.

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.

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