Triglav Investments D.O.O. bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,650 shares of the cryptocurrency exchange’s stock, valued at approximately $637,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Paradiem LLC bought a new stake in Coinbase Global in the 1st quarter worth about $310,000. CAP Partners LLC lifted its position in shares of Coinbase Global by 5.2% during the 1st quarter. CAP Partners LLC now owns 6,489 shares of the cryptocurrency exchange’s stock worth $1,133,000 after buying an additional 320 shares in the last quarter. Carnegie Investment Counsel boosted its stake in shares of Coinbase Global by 615.8% in the 1st quarter. Carnegie Investment Counsel now owns 62,365 shares of the cryptocurrency exchange’s stock worth $10,890,000 after buying an additional 53,652 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Coinbase Global by 274.3% in the 1st quarter. Fifth Third Bancorp now owns 33,678 shares of the cryptocurrency exchange’s stock worth $5,881,000 after buying an additional 24,681 shares during the last quarter. Finally, Sovran Advisors LLC grew its holdings in shares of Coinbase Global by 15.2% in the first quarter. Sovran Advisors LLC now owns 12,702 shares of the cryptocurrency exchange’s stock valued at $2,385,000 after acquiring an additional 1,679 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.
Coinbase Global Stock Performance
Shares of COIN stock opened at $159.07 on Monday. The company has a 50 day moving average of $173.89 and a 200-day moving average of $189.48. 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 12-month low of $139.18 and a 12-month high of $444.64. The firm has a market cap of $41.91 billion, a P/E ratio of 59.80, a PEG ratio of 6.10 and a beta of 3.35.
Wall Street Analyst Weigh In
A number of analysts recently commented on COIN shares. HC Wainwright decreased their price target on Coinbase Global from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Weiss Ratings raised Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Citigroup restated a “market outperform” rating on shares of Coinbase Global in a research note on Thursday. Wolfe Research set a $325.00 target price on Coinbase Global in a research report on Thursday. Finally, Piper Sandler lowered their target price on Coinbase Global from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $251.79.
View Our Latest Analysis on COIN
Insiders Place Their Bets
In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value of $346,684.80. Following the transaction, the insider directly owned 84,753 shares in the company, valued at $14,991,110.64. This represents 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. Over the last ninety days, insiders sold 40,647 shares of company stock valued at $7,331,841. Company insiders own 16.66% of the company’s stock.
Key Coinbase Global News
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase gained sympathy buying after Circle received OCC approval to launch a national trust bank, reinforcing a more constructive regulatory backdrop for crypto-related firms. Coinbase Stock Trades Higher After Circle Receives OCC Approval to Open National Trust Bank
- Positive Sentiment: Citizens JMP raised its price target on Coinbase to $325 and kept an outperform rating, which supports the idea that Wall Street still sees significant upside from current levels. Coinbase Global (NASDAQ:COIN) Given New $325.00 Price Target at Citizens Jmp
- Positive Sentiment: Bitcoin strength and reports of a rising “Coinbase Premium” suggested renewed U.S. crypto demand, which can boost Coinbase trading activity and investor expectations for volume-driven revenue. Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant
- Positive Sentiment: Coinbase also received attention for a UK authorization that could help it expand into a broader “everything exchange” offering, a potential long-term growth catalyst. Coinbase UK License Marks Major Step Toward Bringing ‘Everything Exchange’ to Life
- Neutral Sentiment: Analysts and market commentary continued to highlight Coinbase as a high-profile crypto proxy, keeping the stock in focus for traders, but these pieces were more commentary than fresh fundamental news. Is Trending Stock Coinbase Global, Inc. (COIN) a Buy Now?
- Neutral Sentiment: Coinbase’s chief legal officer, Paul Grewal, is stepping down after a successful tenure, but the company said the transition is orderly and succession plans are already in place. Coinbase restores prediction markets trading after technical issue
- Negative Sentiment: Recent analyst updates were mixed, with Barclays cutting its price target to $99 and maintaining an underweight rating, showing that not all analysts are bullish on the stock’s valuation and earnings outlook. Coinbase Global had its price target lowered by Barclays PLC
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.
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