DJE Kapital AG decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,939 shares of the cryptocurrency exchange’s stock after selling 14,945 shares during the quarter. DJE Kapital AG’s holdings in Coinbase Global were worth $30,262,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. Integrated Wealth Concepts LLC raised its position in Coinbase Global by 24.2% in the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 413 shares during the period. Empowered Funds LLC raised its position in Coinbase Global by 25.8% in the first 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 during the period. Focus Partners Wealth raised its position in Coinbase Global by 9.9% in the first 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 during the period. Sivia Capital Partners LLC purchased a new stake in Coinbase Global in the second quarter valued at approximately $285,000. Finally, Cerity Partners LLC raised its position in Coinbase Global by 8.6% in the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after purchasing an additional 1,402 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.
Coinbase Global Stock Performance
NASDAQ:COIN opened at $160.43 on Friday. The company has a fifty day simple moving average of $185.30 and a two-hundred day simple moving average of $204.61. The company has a market cap of $42.27 billion, a price-to-earnings ratio of 60.31, a price-to-earnings-growth ratio of 4.90 and a beta of 3.32. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64.
Coinbase Global News Summary
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase launched “Coinbase for Agents,” enabling AI assistants to trade crypto and make payments, opening a new potential growth channel for trading and payments activity. Coinbase launches tool to let AI agents manage trading and payments
- Positive Sentiment: MassPay and Coinbase announced a stablecoin payout partnership, which could expand institutional and cross-border payment volume on Coinbase’s rails. MassPay and Coinbase Partner to Bring Stablecoin-Powered Payouts to Businesses Worldwide
- Positive Sentiment: Bernstein said Coinbase could benefit from a World Cup-driven surge in prediction-market activity, pointing to potential user and volume growth. Coinbase eyes World Cup boost as prediction markets surge: Bernstein
- Neutral Sentiment: Coverage of Coinbase CEO Brian Armstrong discussing perpetual approval adds context around crypto market structure, but it is not a clear immediate earnings driver. Coinbase CEO Armstrong Talks About Perpetual Approval: What Comes Next?
- Negative Sentiment: Coinbase CAO Jennifer N. Jones sold shares in a pre-arranged 10b5-1 transaction, which may add a bit of caution even though it was routine. Coinbase Global, Inc. CAO Jennifer N. Jones Insider Transaction
- Negative Sentiment: Some market commentary remains wary as Bitcoin weakness continues to pressure Coinbase sentiment because the stock is highly tied to crypto trading activity and overall digital-asset prices. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock
Analyst Ratings Changes
A number of analysts have issued reports on COIN shares. Robert W. Baird cut their target price on Coinbase Global from $160.00 to $142.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Piper Sandler cut their target price on Coinbase Global from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Needham & Company LLC cut their target price on Coinbase Global from $230.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Oppenheimer dropped their price target on shares of Coinbase Global from $227.00 to $224.00 in a research note on Friday, May 8th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global presently has an average rating of “Hold” and a consensus target price of $250.23.
Check Out Our Latest Stock Report on COIN
Insider Activity
In related news, Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the completion of the transaction, the director owned 30,000 shares in the company, valued at approximately $5,446,200. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the transaction, the insider owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. The trade was a 2.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 40,597 shares of company stock valued at $7,746,861. Insiders own 16.66% of the company’s stock.
Coinbase Global Profile
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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