Kera Capital Partners Inc. Invests $8.56 Million in Coinbase Global, Inc. (NASDAQ:COIN)

Kera Capital Partners Inc. bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,469 shares of the cryptocurrency exchange's stock, valued at approximately $8,559,000. Coinbase Global accounts for 2.5% of Kera Capital Partners Inc.'s holdings, making the stock its 9th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in Coinbase Global in the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $32,000. Abich Financial Wealth Management LLC increased its stake in shares of Coinbase Global by 548.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 214 shares of the cryptocurrency exchange's stock worth $48,000 after purchasing an additional 181 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Coinbase Global by 408.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 254 shares of the cryptocurrency exchange's stock worth $45,000 after purchasing an additional 204 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Coinbase Global by 106.9% during the 4th quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange's stock worth $74,000 after purchasing an additional 154 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on COIN. JMP Securities reiterated a "market outperform" rating and set a $320.00 target price on shares of Coinbase Global in a report on Wednesday, October 9th. Needham & Company LLC lifted their price objective on Coinbase Global from $375.00 to $420.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. The Goldman Sachs Group reduced their target price on shares of Coinbase Global from $397.00 to $340.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Keefe, Bruyette & Woods lowered their price target on shares of Coinbase Global from $275.00 to $255.00 and set a "market perform" rating for the company in a report on Monday, January 13th. Finally, Monness Crespi & Hardt boosted their price objective on shares of Coinbase Global from $245.00 to $390.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $282.83.

Coinbase Global Trading Up 4.9 %

COIN traded up $13.85 during trading on Friday, hitting $295.48. 11,250,894 shares of the company's stock were exchanged, compared to its average volume of 6,726,179. Coinbase Global, Inc. has a 1 year low of $114.51 and a 1 year high of $349.75. The stock has a 50 day moving average price of $291.21 and a 200 day moving average price of $231.26. The firm has a market cap of $73.97 billion, a P/E ratio of 50.42 and a beta of 3.59. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.48.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The cryptocurrency exchange reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.13). The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.26 billion. Coinbase Global had a return on equity of 14.81% and a net margin of 29.76%. The firm's revenue for the quarter was up 78.8% on a year-over-year basis. During the same period last year, the company posted ($0.01) earnings per share. As a group, analysts expect that Coinbase Global, Inc. will post 4.69 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul Grewal sold 10,000 shares of Coinbase Global stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $209.98, for a total transaction of $2,099,800.00. Following the sale, the insider now directly owns 74,956 shares of the company's stock, valued at approximately $15,739,260.88. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alesia J. Haas sold 20,000 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $300.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 124,470 shares of the company's stock, valued at $37,341,000. This represents a 13.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 347,033 shares of company stock worth $102,613,277. 23.43% of the stock is currently owned by corporate insiders.

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.