Coinbase Global, Inc. $COIN Shares Sold by Kera Capital Partners Inc.

Kera Capital Partners Inc. trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 91.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,392 shares of the cryptocurrency exchange’s stock after selling 38,252 shares during the period. Kera Capital Partners Inc.’s holdings in Coinbase Global were worth $592,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock worth $5,970,285,000 after acquiring an additional 184,043 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Coinbase Global by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock worth $1,374,080,000 after acquiring an additional 189,080 shares during the last quarter. Paradigm Operations LP increased its holdings in shares of Coinbase Global by 3.3% during the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after acquiring an additional 134,425 shares in the last quarter. Norges Bank purchased a new position in shares of Coinbase Global in the 4th quarter valued at approximately $656,744,000. Finally, ARK Investment Management LLC raised its position in shares of Coinbase Global by 6.1% in the 4th quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock valued at $574,832,000 after purchasing an additional 146,388 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Coinbase Global

Here are the key news stories impacting Coinbase Global this week:

• Positive Sentiment: Coinbase continues to benefit from progress on U.S. crypto regulation, including movement on the CLARITY Act and supportive comments from Coinbase policy leaders, which could improve long-term market structure and expand institutional adoption. Coinbase Policy Chief Calls CLARITY Act a ‘Dramatic Advance’: Here’s What Comes Next in the Senate
• Positive Sentiment: JPMorgan kept an Overweight rating on Coinbase even while cutting its price target, signaling that Wall Street still sees upside potential despite the pullback in expectations. JPMorgan slashes Coinbase price target
• Positive Sentiment: Coinbase joined a large stablecoin alliance and remains seen as a key player in new crypto payment and infrastructure initiatives, which could support future growth beyond spot trading. Coinbase Just Joined a 140-Company Stablecoin Alliance. Here’s What It Means for the Stock.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $157.12 on Friday. The business’s 50 day moving average price is $170.41 and its 200 day moving average price is $187.07. The firm has a market cap of $41.39 billion, a P/E ratio of 59.07, a P/E/G ratio of 10.00 and a beta of 3.35. Coinbase Global, Inc. has a 52 week low of $139.18 and a 52 week high of $444.64. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company posted $0.24 EPS. Coinbase Global’s quarterly revenue was down 30.5% compared to the same quarter last year. On average, sell-side analysts expect that Coinbase Global, Inc. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on COIN shares. B. Riley Financial dropped their target price on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a research report on Monday, June 1st. Weiss Ratings raised shares of Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Coinbase Global in a research note on Wednesday, June 17th. Barclays dropped their price objective on shares of Coinbase Global from $107.00 to $99.00 and set an “underweight” rating on the stock in a report on Thursday, July 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $240.00 target price on shares of Coinbase Global in a research report on Wednesday, June 17th. Eighteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $245.39.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total transaction of $1,590,900.00. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at $3,181,800. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the transaction, the insider owned 84,753 shares of the company’s stock, valued at $14,991,110.64. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,627 shares of company stock worth $5,327,841 over the last ninety days. 16.66% of the stock is owned by insiders.

About Coinbase Global

Coinbase Global, Inc is a U.S.-based company that operates one of the largest cryptocurrency exchange platforms. Founded in 2012 by Brian Armstrong and Fred Ehrsam and headquartered in San Francisco, Coinbase provides technology and infrastructure to buy, sell, store and use a broad range of digital assets. The company became a public company through a direct listing on the NASDAQ in April 2021 and offers services tailored to both retail and institutional customers.

Coinbase’s product portfolio includes its consumer trading platform, a self-custody mobile wallet, and institutional services such as custody, prime brokerage and execution tools.