Stratos Wealth Partners LTD. Buys 6,403 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

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

Other hedge funds also recently modified their holdings of the company. Amalgamated Bank increased its stake in shares of Coinbase Global by 4.8% in the 1st quarter. Amalgamated Bank now owns 13,747 shares of the cryptocurrency exchange's stock valued at $2,368,000 after acquiring an additional 629 shares in the last quarter. KCM Investment Advisors LLC bought a new stake in shares of Coinbase Global in the 4th quarter valued at $507,000. GAMMA Investing LLC increased its stake in shares of Coinbase Global by 8.1% in the 1st quarter. GAMMA Investing LLC now owns 1,123 shares of the cryptocurrency exchange's stock valued at $193,000 after acquiring an additional 84 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of Coinbase Global by 124.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,622 shares of the cryptocurrency exchange's stock valued at $453,000 after acquiring an additional 1,454 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of Coinbase Global by 10.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,456 shares of the cryptocurrency exchange's stock valued at $610,000 after acquiring an additional 232 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

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 shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 30,167 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the sale, the director directly owned 10,417 shares in the company, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 685,915 shares of company stock worth $222,081,432 over the last three months. 17.65% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COIN. JPMorgan Chase & Co. lowered their price objective on shares of Coinbase Global from $276.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. China Renaissance started coverage on shares of Coinbase Global in a research note on Tuesday, June 17th. They set a "buy" rating and a $353.30 price target for the company. William Blair started coverage on shares of Coinbase Global in a research note on Wednesday, June 11th. They set an "outperform" rating for the company. Needham & Company LLC decreased their price target on shares of Coinbase Global from $330.00 to $270.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $400.00 price target on shares of Coinbase Global in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $298.60.

Coinbase Global Stock Down 0.5%

COIN traded down $1.90 during mid-day trading on Friday, reaching $387.06. 16,560,793 shares of the stock were exchanged, compared to its average volume of 10,940,417. The company has a 50 day moving average price of $282.06 and a two-hundred day moving average price of $246.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.52 and a current ratio of 2.52. The stock has a market capitalization of $98.27 billion, a PE ratio of 72.48, a price-to-earnings-growth ratio of 28.35 and a beta of 3.70. Coinbase Global, Inc. has a 1 year low of $142.58 and a 1 year high of $395.50.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly 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 company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. Coinbase Global's quarterly revenue was up 24.2% compared to the same quarter last year. During the same period last year, the firm posted $2.53 earnings per share. As a group, research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current year.

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.