Stratos Wealth Partners LTD. Grows Stock Holdings in Coinbase Global, Inc. (NASDAQ:COIN)

Stratos Wealth Partners LTD. increased its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 37.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,645 shares of the cryptocurrency exchange's stock after purchasing an additional 6,403 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Coinbase Global were worth $4,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its stake in shares of Coinbase Global by 125.8% in the fourth quarter. Jones Financial Companies Lllp now owns 490 shares of the cryptocurrency exchange's stock worth $122,000 after purchasing an additional 273 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Coinbase Global by 10.9% in the fourth quarter. Victory Capital Management Inc. now owns 71,933 shares of the cryptocurrency exchange's stock worth $17,861,000 after purchasing an additional 7,096 shares during the last quarter. Assetmark Inc. raised its stake in shares of Coinbase Global by 27.0% in the fourth quarter. Assetmark Inc. now owns 3,657 shares of the cryptocurrency exchange's stock worth $908,000 after purchasing an additional 778 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Coinbase Global by 23.9% in the fourth quarter. Proficio Capital Partners LLC now owns 1,685 shares of the cryptocurrency exchange's stock worth $418,000 after purchasing an additional 325 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Coinbase Global by 10.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,091 shares of the cryptocurrency exchange's stock worth $3,747,000 after purchasing an additional 1,469 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on COIN shares. Benchmark boosted their price target on Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Compass Point upgraded Coinbase Global from a "sell" rating to a "neutral" rating and set a $195.00 price target for the company in a research note on Monday, May 12th. Rosenblatt Securities restated a "buy" rating and issued a $300.00 price target on shares of Coinbase Global in a research note on Monday, June 16th. Cantor Fitzgerald initiated coverage on Coinbase Global in a report on Tuesday, April 8th. They issued an "overweight" rating and a $245.00 price objective for the company. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $400.00 price objective on shares of Coinbase Global in a report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Coinbase Global has a consensus rating of "Hold" and a consensus target price of $298.60.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN traded up $15.11 during mid-day trading on Thursday, reaching $388.96. 17,059,722 shares of the company traded hands, compared to its average volume of 10,852,191. The company's 50 day moving average price is $274.66 and its 200-day moving average price is $244.97. The firm has a market cap of $98.75 billion, a PE ratio of 72.84, a PEG ratio of 25.95 and a beta of 3.70. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.52 and a quick ratio of 2.52. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $396.71.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS 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 the consensus estimate of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The firm's revenue was up 24.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.53 earnings per share. 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 news, insider Paul Grewal sold 10,000 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $348.64, for a total value of $3,486,400.00. Following the completion of the transaction, the insider directly owned 82,328 shares of the company's stock, valued at approximately $28,702,833.92. The trade was a 10.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 3,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $360.20, for a total value of $1,080,600.00. Following the sale, the chief financial officer directly owned 97,366 shares in the company, valued at approximately $35,071,233.20. The trade was a 2.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 685,915 shares of company stock worth $222,081,432. Company insiders own 17.65% of the company's stock.

Coinbase Global Company 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.