Coinbase Global, Inc. $COIN Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC lifted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 30.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,895 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,973 shares during the period. Global Retirement Partners LLC’s holdings in Coinbase Global were worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in COIN. REAP Financial Group LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $25,000. Palisade Asset Management LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $29,000. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $35,000. Cloud Capital Management LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $36,000. Finally, Stephens Consulting LLC lifted its stake in shares of Coinbase Global by 99.0% in the 4th quarter. Stephens Consulting LLC now owns 201 shares of the cryptocurrency exchange’s stock worth $45,000 after acquiring an additional 100 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Stock Down 4.4%

Shares of NASDAQ:COIN opened at $184.99 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market cap of $48.74 billion, a PE ratio of 69.55, a price-to-earnings-growth ratio of 7.05 and a beta of 3.38. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64. The firm has a 50 day simple moving average of $190.49 and a 200 day simple moving average of $216.73.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.06%. The firm’s revenue was down 30.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. As a group, research analysts expect that Coinbase Global, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on COIN shares. Mizuho upped their price target on shares of Coinbase Global from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald upped their price target on shares of Coinbase Global from $221.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. The Goldman Sachs Group upped their price target on shares of Coinbase Global from $225.00 to $231.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Jefferies Financial Group increased their target price on shares of Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a research note on Thursday, April 9th. Finally, Citizens Jmp cut their target price on shares of Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a research note on Friday, April 10th. Nineteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $252.20.

Insider Activity at Coinbase Global

In related news, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the sale, the chief financial officer owned 377,201 shares in the company, valued at approximately $75,440,200. This represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 29,990 shares of company stock valued at $6,013,920. 16.66% of the stock is currently owned by corporate insiders.

Coinbase Global News Roundup

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

• Negative Sentiment: Bitcoin and Ethereum fell, weighing on crypto-related stocks and dragging Coinbase lower alongside other trading platforms like Robinhood. Coinbase and Other Crypto Stocks Are Falling. Several Possible Reasons for the Bad Day.
• Negative Sentiment: Crypto market sentiment has been hurt by Bitcoin slipping into the mid-$70,000s, a negative Coinbase premium, and reports of institutional selling and ETF outflows, all of which point to softer near-term trading volumes for Coinbase. Coinbase premium hits monthly low as institutional selling pressure mounts
• Neutral Sentiment: Coinbase continues to expand its product set, including launching perpetual-style equity index futures in June and supporting new stablecoin infrastructure, which could help diversify revenue over time. Traders Get AI, Defense, and China Perp Futures on Coinbase Starting June 8
• Neutral Sentiment: Management also highlighted AI-driven compliance improvements and faster resolution times, which is supportive for operating efficiency but not enough to offset the crypto selloff today. Coinbase CEO Brian Armstrong Says AI Is Doing ‘Most Of The Heavy Lifting’ In Compliance As Resolution Times Improve By 90%

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.