Kestra Private Wealth Services LLC Boosts Stock Position in Coinbase Global, Inc. (NASDAQ:COIN)

Kestra Private Wealth Services LLC increased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 35.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,552 shares of the cryptocurrency exchange’s stock after acquiring an additional 4,829 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Coinbase Global were worth $4,606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. CWM LLC increased its stake in shares of Coinbase Global by 4.4% in the third quarter. CWM LLC now owns 6,039 shares of the cryptocurrency exchange’s stock worth $1,076,000 after purchasing an additional 253 shares in the last quarter. Inspire Investing LLC increased its stake in Coinbase Global by 33.2% in the 3rd quarter. Inspire Investing LLC now owns 1,587 shares of the cryptocurrency exchange’s stock worth $283,000 after buying an additional 396 shares in the last quarter. Carnegie Investment Counsel lifted its position in shares of Coinbase Global by 4.8% in the third quarter. Carnegie Investment Counsel now owns 38,595 shares of the cryptocurrency exchange’s stock valued at $6,876,000 after acquiring an additional 1,757 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its stake in shares of Coinbase Global by 128.2% in the third quarter. Compagnie Lombard Odier SCmA now owns 3,035 shares of the cryptocurrency exchange’s stock worth $541,000 after acquiring an additional 1,705 shares during the period. Finally, Patriot Investment Management Group Inc. purchased a new stake in shares of Coinbase Global during the third quarter worth about $1,693,000. Institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, insider Paul Grewal sold 7,104 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $307.80, for a total value of $2,186,611.20. Following the completion of the sale, the insider now owns 79,407 shares of the company’s stock, valued at approximately $24,441,474.60. This represents a 8.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian Armstrong sold 25,000 shares of Coinbase Global stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $261.07, for a total transaction of $6,526,750.00. Following the transaction, the chief executive officer now directly owns 526 shares in the company, valued at approximately $137,322.82. The trade was a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 361,798 shares of company stock worth $107,826,444 in the last ninety days. 23.43% of the stock is owned by company insiders.

Analyst Ratings Changes

COIN has been the topic of a number of research analyst reports. Needham & Company LLC lowered their price target on Coinbase Global from $420.00 to $330.00 and set a “buy” rating on the stock in a report on Friday. Canaccord Genuity Group restated a “buy” rating and set a $280.00 target price on shares of Coinbase Global in a research report on Thursday, October 31st. Oppenheimer cut their target price on shares of Coinbase Global from $358.00 to $334.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Keefe, Bruyette & Woods decreased their price target on shares of Coinbase Global from $275.00 to $255.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, Piper Sandler lifted their target price on Coinbase Global from $245.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $284.06.

Coinbase Global Stock Performance

Coinbase Global stock opened at $280.22 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $70.15 billion, a PE ratio of 47.82 and a beta of 3.61. The company has a 50 day moving average price of $284.78 and a 200-day moving average price of $237.03. Coinbase Global, Inc. has a fifty-two week low of $137.13 and a fifty-two week high of $349.75.

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.