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

Stratos Wealth Partners LTD. grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 37.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

A number of other large investors have also recently modified their holdings of COIN. Mascagni Wealth Management Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter worth $25,000. Copia Wealth Management purchased a new stake in shares of Coinbase Global in the fourth quarter worth $26,000. Atala Financial Inc purchased a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Coinbase Global in the fourth quarter worth $35,000. Finally, Brooklands Fund Management Ltd purchased a new stake in shares of Coinbase Global in the fourth quarter worth $37,245,000. Institutional investors own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick Ernest Ehrsam III sold 30,167 shares of the firm'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 transaction, the director owned 10,417 shares of the company's stock, valued at approximately $2,632,167.56. This trade represents a 74.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian Armstrong sold 336,265 shares of the firm'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 completion of the sale, the chief executive officer owned 526 shares in the company, valued at $190,732.86. This represents a 99.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 685,915 shares of company stock worth $222,081,432 in the last three months. Insiders own 17.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COIN shares. Needham & Company LLC reduced their price objective 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. Benchmark increased their price objective on shares of Coinbase Global from $301.00 to $421.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. The Goldman Sachs Group upped their target price on shares of Coinbase Global from $239.00 to $268.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods upped their target price on shares of Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research report on Friday, May 9th. Finally, Barclays upped their target price on shares of Coinbase Global from $202.00 to $359.00 and gave the stock an "equal weight" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $298.60.

Coinbase Global Trading Down 0.5%

COIN stock traded down $1.90 during trading on Friday, hitting $387.06. The company had a trading volume of 16,560,793 shares, compared to its average volume of 10,916,451. The firm has a market capitalization of $98.27 billion, a P/E ratio of 72.48, a PEG ratio of 28.49 and a beta of 3.70. Coinbase Global, Inc. has a 52-week low of $142.58 and a 52-week high of $395.50. The company has a 50 day simple moving average of $282.06 and a 200-day simple moving average of $246.55. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 0.40.

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 business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.22 billion. Coinbase Global had a net margin of 21.14% and a return on equity of 20.25%. The company's revenue for the quarter was up 24.2% on a year-over-year basis. During the same period last year, the business posted $2.53 EPS. As a group, research analysts forecast that Coinbase Global, Inc. will post 7.22 earnings per share for the current fiscal year.

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.