Key Points
- Coinbase director Marc Andreessen sold 6,838 shares at an average price of $205.05, generating approximately $1.4 million. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 0.60%.
- Coinbase reported a quarterly loss of $1.36 per share, missing the $0.44 consensus estimate, while revenue of $1.22 billion also fell short of expectations and declined 18.5% year over year.
- Analyst sentiment remains mixed, with 19 Buy, 12 Hold and 3 Sell ratings; the stock has an average rating of Hold and a consensus price target of $219.97. Institutional investors own 68.84% of Coinbase’s shares.
Coinbase Global, Inc. (NASDAQ:COIN) Director Marc Andreessen sold 6,838 shares of the business's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $205.05, for a total value of $1,402,131.90. Following the sale, the director owned 1,129,486 shares in the company, valued at approximately $231,601,104.30. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Coinbase Global Stock Performance
Coinbase Global stock opened at $198.13 on Thursday. The business has a 50 day moving average of $169.46 and a 200-day moving average of $176.10. The company has a market capitalization of $52.27 billion, a P/E ratio of -51.60 and a beta of 3.39. Coinbase Global, Inc. has a 1 year low of $139.11 and a 1 year high of $402.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42.
Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The firm's quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.14 earnings per share. On average, equities research analysts predict that Coinbase Global, Inc. will post -0.21 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on COIN shares. The Goldman Sachs Group increased their price objective on Coinbase Global from $196.00 to $219.00 and gave the company a "buy" rating in a report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $208.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Barclays decreased their price target on Coinbase Global from $99.00 to $95.00 and set an "underweight" rating for the company in a research note on Friday, July 31st. Wolfe Research set a $325.00 price objective on Coinbase Global in a research report on Thursday, July 9th. Finally, Monness Crespi & Hardt reaffirmed a "sell" rating on shares of Coinbase Global in a research note on Friday, June 5th. Nineteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and an average price target of $219.97.
Read Our Latest Stock Report on Coinbase Global
Coinbase Global News Roundup
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase’s launch of retail IPO access, beginning with Oura, reinforces its strategy of becoming a broader financial-services platform. Eligible U.S. users can request IPO allocations through Coinbase Capital Markets, potentially creating new revenue streams and increasing customer engagement. Coinbase Opens IPO Allocations To US Retail Traders Starting With Oura
- Positive Sentiment: The exchange continues adding financial products, including fixed-rate USDC loans backed by bitcoin through Morpho on Base. The offering complements existing variable-rate borrowing and could increase lending activity and the utility of Coinbase’s ecosystem. Coinbase Introduces Fixed-Rate Bitcoin Collateral Loans
- Positive Sentiment: Coinbase’s infrastructure is being used by Roundtable’s new media platform to settle advertising payments in USDC in real time. The partnership highlights potential institutional demand for Coinbase’s stablecoin, payments and custody infrastructure, although adoption and revenue contributions remain unproven. Roundtable’s Real-Time DeFi Media Payment Platform Goes Live
- Positive Sentiment: Regulatory developments around tokenized stocks, along with Coinbase’s links to X’s trading referral program, support the company’s push into equities, tokenization and an “everything exchange.” A Q2 filing also showed Fisher Asset Management initiated a COIN position, providing a modest institutional-confidence signal. Winners and Losers of the SEC’s New Tokenized Stocks Rules
Institutional Trading of Coinbase Global
A number of institutional investors have recently bought and sold shares of the company. Readystate Asset Management LP bought a new stake in Coinbase Global in the second quarter worth approximately $2,587,000. Assenagon Asset Management S.A. boosted its holdings in shares of Coinbase Global by 366.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 154,702 shares of the cryptocurrency exchange's stock worth $22,616,000 after buying an additional 121,552 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Coinbase Global by 37.4% during the 1st quarter. First Citizens Bank & Trust Co. now owns 40,467 shares of the cryptocurrency exchange's stock worth $7,066,000 after buying an additional 11,020 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Coinbase Global by 65.4% during the 1st quarter. QRG Capital Management Inc. now owns 24,102 shares of the cryptocurrency exchange's stock worth $4,208,000 after buying an additional 9,532 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of Coinbase Global by 185.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 25,507 shares of the cryptocurrency exchange's stock worth $3,729,000 after buying an additional 16,572 shares during the period. Institutional investors own 68.84% of the company's stock.
About Coinbase Global
(
Get Free Report)
Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.
Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.
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