Key Points
- Coinbase director Frederick Wilson sold 10,000 shares on June 1 in a pre-arranged Rule 10b5-1 transaction, totaling about $1.82 million. After the sale, he still held 30,000 shares, a 25% reduction in his position.
- Coinbase recently reported weaker-than-expected quarterly results, posting an EPS loss of $1.49 versus a $0.06 estimate and revenue of $1.41 billion versus $1.49 billion expected. Revenue fell 30.5% from a year earlier.
- Analyst sentiment remains mixed but generally supportive, with several firms raising price targets and major banks maintaining buy/overweight views. MarketBeat data shows a consensus rating of Hold with an average target price of $250.81.
Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Wilson sold 10,000 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $181.54, for a total value of $1,815,400.00. Following the completion of the transaction, the director directly owned 30,000 shares of the company's stock, valued at approximately $5,446,200. The trade was a 25.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Coinbase Global Stock Performance
Shares of COIN stock opened at $163.22 on Thursday. The firm has a market capitalization of $43.00 billion, a price-to-earnings ratio of 61.36, a PEG ratio of 6.02 and a beta of 3.32. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The business's 50-day moving average price is $186.97 and its 200-day moving average price is $208.82. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64.
Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the company earned $0.24 EPS. The business's quarterly revenue was down 30.5% compared to the same quarter last year. Equities research analysts forecast that Coinbase Global, Inc. will post 1.77 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $226.00 to $228.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. Jefferies Financial Group raised their target price on Coinbase Global from $151.00 to $181.00 and gave the stock a "hold" rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. lifted their target price on Coinbase Global from $252.00 to $290.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. B. Riley Financial reduced their price target on Coinbase Global from $243.00 to $203.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, China Renaissance decreased their price target on Coinbase Global from $301.50 to $223.20 and set a "buy" rating for the company in a research note on Monday, February 23rd. Nineteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $250.81.
Check Out Our Latest Research Report on Coinbase Global
Coinbase Global News Summary
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase is expanding its product lineup with regulated crypto derivatives for U.S. traders and a new perpetual futures partnership with Kalshi, which could open a larger, high-volume market and support future trading revenue. Article Title
- Positive Sentiment: Coinbase is pushing international growth by relaunching in India with INR deposits/withdrawals and futures trading, expanding access in one of the world’s largest crypto markets. Article Title
- Positive Sentiment: Coinbase Ventures bought ENA as Ethena scales its USDe product, potentially creating a pathway to new onchain finance and savings products for Coinbase’s user base. Article Title
- Positive Sentiment: Coinbase announced stablecoin payment support across Checkout.com’s 1,000+ merchant network, which could increase real-world stablecoin usage and transaction activity. Article Title
- Neutral Sentiment: Coinbase froze more than $3 million in crypto tied to Southeast Asia fraud networks and helped with anti-scam efforts, which is positive for trust but not a direct revenue driver. Article Title
- Neutral Sentiment: Coinbase Ventures’ investment in ProShares’ stablecoin reserve ETF highlights long-term positioning around stablecoin infrastructure and regulation, but the immediate stock impact is limited. Article Title
- Negative Sentiment: Bitcoin’s sharp drop below key support levels is weighing on Coinbase, since lower crypto prices and heavier selling typically reduce trading activity and sentiment across the exchange. Article Title
- Negative Sentiment: Recent reports show high-conviction bitcoin holders selling and prediction markets seeing a higher chance of BTC falling below $60,000, adding more pressure to Coinbase shares. Article Title
- Negative Sentiment: Insider selling also pressured sentiment, as a Coinbase director sold 10,000 shares in a prearranged transaction. Article Title
Hedge Funds Weigh In On Coinbase Global
Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its holdings in Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange's stock worth $365,000 after acquiring an additional 413 shares during the period. Empowered Funds LLC boosted its position in shares of Coinbase Global by 25.8% during the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange's stock valued at $1,478,000 after purchasing an additional 1,761 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Coinbase Global by 9.9% during the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange's stock valued at $896,000 after purchasing an additional 467 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Coinbase Global during the second quarter worth approximately $285,000. Finally, Cerity Partners LLC increased its holdings in Coinbase Global by 8.6% in the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange's stock worth $6,203,000 after purchasing an additional 1,402 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.
Coinbase Global Company Profile
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Get Free Report)
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.
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