Frederick Wilson Sells 10,000 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Wilson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $178.93, for a total value of $1,789,300.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Trading Up 10.1%

Shares of COIN traded up $17.74 during mid-day trading on Thursday, reaching $192.70. 13,699,685 shares of the company’s stock traded hands, compared to its average volume of 10,321,546. The stock’s 50-day moving average is $161.76 and its two-hundred day moving average is $175.26. Coinbase Global, Inc. has a 12 month low of $139.11 and a 12 month 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. The stock has a market cap of $50.84 billion, a P/E ratio of -50.18 and a beta of 3.39.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $5.14 EPS. The business’s revenue was down 18.5% compared to the same quarter last year. Research analysts forecast that Coinbase Global, Inc. will post -0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Coinbase Global in a research note on Friday, July 31st. Citizens Jmp decreased their target price on Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings cut Coinbase Global from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Barclays dropped their price target on Coinbase Global from $99.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. Finally, President Capital raised their price target on Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $216.87.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Crypto market rebound lifts COIN: Coinbase, Circle and MicroStrategy rallied as higher cryptocurrency prices boosted risk appetite and expectations for increased trading volumes. Coinbase, Circle, MicroStrategy stocks surge on crypto rebound
• Positive Sentiment: U.S. crypto-policy optimism: Investors are anticipating progress toward federal crypto market-structure legislation, including a scheduled Senate procedural vote later in September. Clearer rules could benefit Coinbase as a regulated, U.S.-based platform. Coinbase Stock Surges Thursday: What’s Happening?
• Positive Sentiment: Canadian derivatives launch expands growth opportunities: Coinbase introduced regulated perpetual and dated crypto futures for eligible Canadian customers, potentially broadening its trading pool, diversifying revenue and advancing its “everything exchange” strategy. Coinbase launches regulated crypto derivatives in Canada
• Positive Sentiment: Growth narrative remains active: Recent company updates highlighted record crypto trading-volume market share, tokenized-stock activity, Coinbase-powered token-backed mortgages and expanded Canadian distribution through Webull. These initiatives could reduce reliance on spot crypto trading over time. The Bull Case For Coinbase Global
• Neutral Sentiment: Board and investor-relations updates: Coinbase added Anthony Armstrong, described as an Elon Musk ally and former Morgan Stanley banker, to its board. CFO Alesia Haas and other executives are also scheduled to speak at Citi and Goldman Sachs technology conferences, which may provide additional strategy or outlook commentary. Coinbase Global appoints Anthony Armstrong to board
• Neutral Sentiment: Founder-related Venezuela report: A firm associated with Coinbase co-founder Fred Ehrsam is reportedly pursuing Venezuelan oil fields, but Coinbase is not identified as a bidder and no agreement has been confirmed. The development therefore has limited direct impact on COIN. Coinbase Co-Founder’s Firm Primavera Pursues Venezuelan Oil Fields
• Negative Sentiment: Sell-rating and insider-selling risks: Zacks added COIN to its Rank #5 “Strong Sell” list, while reported insider activity showed sales without purchases over the past six months. These signals could temper enthusiasm if crypto momentum fades. New Strong Sell Stocks for September 3rd

Hedge Funds Weigh In On Coinbase Global

Several institutional investors have recently bought and sold shares of COIN. L2 Asset Management LLC lifted its holdings in Coinbase Global by 5.0% during the 3rd quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange’s stock worth $326,000 after buying an additional 46 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of Coinbase Global by 4.5% in the third quarter. Ancora Advisors LLC now owns 1,174 shares of the cryptocurrency exchange’s stock worth $396,000 after acquiring an additional 51 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of Coinbase Global by 1.1% in the first quarter. Fulton Bank N.A. now owns 4,942 shares of the cryptocurrency exchange’s stock worth $863,000 after acquiring an additional 53 shares in the last quarter. MGO One Seven LLC increased its position in shares of Coinbase Global by 1.5% during the fourth quarter. MGO One Seven LLC now owns 4,321 shares of the cryptocurrency exchange’s stock worth $977,000 after acquiring an additional 63 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its position in shares of Coinbase Global by 2.1% during the third quarter. Moneta Group Investment Advisors LLC now owns 3,174 shares of the cryptocurrency exchange’s stock worth $1,071,000 after acquiring an additional 65 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

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.