Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 2,051 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Coinbase Global Stock Down 4.1%
Shares of NASDAQ COIN opened at $155.50 on Wednesday. The company has a 50 day simple moving average of $185.72 and a 200 day simple moving average of $205.77. The firm has a market cap of $40.97 billion, a PE ratio of 58.46, a price-to-earnings-growth ratio of 5.16 and a beta of 3.32. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.
Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The firm's quarterly revenue was down 30.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. On average, research analysts forecast that Coinbase Global, Inc. will post 1.93 EPS for the current year.
Institutional Trading of Coinbase Global
Several large investors have recently modified their holdings of COIN. Rathbones Group PLC grew its position in Coinbase Global by 5.1% in the 1st quarter. Rathbones Group PLC now owns 5,188 shares of the cryptocurrency exchange's stock valued at $906,000 after purchasing an additional 252 shares during the period. Parallel Advisors LLC grew its position in Coinbase Global by 23.9% in the 1st quarter. Parallel Advisors LLC now owns 14,331 shares of the cryptocurrency exchange's stock valued at $2,502,000 after purchasing an additional 2,767 shares during the period. Glenmede Trust Co. NA grew its position in Coinbase Global by 59.4% in the 1st quarter. Glenmede Trust Co. NA now owns 3,632 shares of the cryptocurrency exchange's stock valued at $634,000 after purchasing an additional 1,354 shares during the period. Axiom Investment Management LLC acquired a new stake in Coinbase Global in the 1st quarter valued at $218,000. Finally, Summitry LLC acquired a new stake in Coinbase Global in the 1st quarter valued at $204,000. Institutional investors and hedge funds own 68.84% of the company's stock.
Coinbase Global News Summary
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase executive John D’Agostino said institutional investors, family offices, and sovereign funds are still buying Bitcoin during the selloff, reinforcing the view that long-term crypto demand remains intact and supporting Coinbase’s institutional business. Institutions Don't Mind Scooping Up Bitcoin At A Discount, Says Top Coinbase Exec
- Positive Sentiment: Coinbase is expanding its product set with a new card tied to stablecoin collateral, which could broaden usage and attract customers who cannot access traditional credit cards. Coinbase Card Lets Credit Insecure Customers Use Crypto as Collateral
- Positive Sentiment: Industry momentum around the U.S. Clarity Act could improve the regulatory backdrop for Coinbase and other major crypto firms if lawmakers advance clearer market rules. Over 200 Crypto Groups Urge Senate Clarity Act Vote
- Neutral Sentiment: Reports that OKX is expanding tokenized stock and commodity perpetuals in Europe add competitive noise, but the direct impact on Coinbase’s near-term earnings is unclear. OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures
- Neutral Sentiment: Short-interest data appears broken or incomplete in the feed, so it does not provide a reliable trading signal for investors.
- Negative Sentiment: Coinbase CAO Jennifer N. Jones sold 2,051 shares in a pre-arranged 10b5-1 plan, which may add to investor caution even though the transaction was routine. Coinbase Global, Inc. CAO Jennifer N. Jones Insider Transaction
- Negative Sentiment: Wall Street commentary remains cautious after Bitcoin’s recent weakness, with some articles saying investors are losing faith in COIN as crypto prices fall and valuation risk stays high. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Mizuho increased their target price on shares of Coinbase Global from $170.00 to $200.00 and gave the company a "neutral" rating in a research report on Tuesday, May 12th. Monness Crespi & Hardt reissued a "sell" rating on shares of Coinbase Global in a research report on Friday. BTIG Research decreased their target price on shares of Coinbase Global from $340.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Coinbase Global from $206.00 to $205.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Finally, Oppenheimer decreased their target price on shares of Coinbase Global from $227.00 to $224.00 in a research report on Friday, May 8th. Nineteen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $250.23.
Read Our Latest Analysis on COIN
Coinbase Global Company Profile
(
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.
Further Reading
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