Nykredit A S acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 30,188 shares of the cryptocurrency exchange’s stock, valued at approximately $4,413,000.
Several other institutional investors have also added to or reduced their stakes in COIN. Archer Investment Corp purchased a new position in shares of Coinbase Global in the second quarter worth $26,000. MV Capital Management Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $27,000. Palisade Asset Management LLC bought a new stake in Coinbase Global in the 3rd quarter worth about $29,000. Osbon Capital Management LLC bought a new stake in Coinbase Global in the 4th quarter worth about $30,000. Finally, Glen Eagle Advisors LLC raised its position in Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after buying an additional 88 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Coinbase Global
In other news, Director Frederick R. Wilson sold 35,068 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $144.32, for a total value of $5,061,013.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,062 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 57,130 shares of company stock worth $8,830,416 over the last quarter. 16.66% of the stock is owned by company insiders.
Analysts Set New Price Targets
Read Our Latest Research Report on Coinbase Global
More Coinbase Global News
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: U.S. equity perpetuals could expand revenue: Coinbase filed SEC notices covering plans to offer 24/7 single-stock perpetual futures to U.S. traders. The products could broaden Coinbase’s derivatives business and strengthen its “everything exchange” strategy, although Commodity Futures Trading Commission approval is still required and launch details remain undisclosed. Coinbase Brings 24/7 Stock Perpetuals to the US
- Positive Sentiment: International derivatives expansion: Coinbase launched regulated crypto derivatives trading in Canada, adding perpetual and dated contracts tied to major digital assets. The launch may increase trading volume, diversify revenue and support its global growth strategy. Can Canada’s Derivatives Launch Boost Coinbase’s Global Growth?
- Positive Sentiment: Crypto-policy optimism remains supportive: Investors continue to watch potential U.S. crypto market-structure legislation, including a Senate procedural vote expected September 15. Clearer rules could benefit Coinbase as a regulated exchange and custody provider.
- Neutral Sentiment: Board and investor-outreach updates: Coinbase added Anthony Armstrong, former CFO of xAI and X, to its board and plans appearances at upcoming Citi and Goldman Sachs conferences. These developments may provide strategic updates but do not change near-term earnings expectations.
- Negative Sentiment: Macro pressure on crypto assets: The hotter-than-expected jobs report increased the prospect of higher-for-longer interest rates, weighing on Bitcoin and other risk assets. Lower crypto prices and trading activity can reduce Coinbase’s transaction revenue, despite the possibility that higher rates support stablecoin income. Coinbase Slides as Hot Jobs Report Dents 10% Rally
- Negative Sentiment: Mixed analyst and insider signals: Zacks placed COIN on its “Strong Sell” list, while a director sold 10,000 shares for approximately $1.79 million under a pre-arranged Rule 10b5-1 plan. Coinbase also recently reported an earnings and revenue miss, with revenue down year over year. New Strong Sell Stocks for September 3rd
Coinbase Global Price Performance
Shares of COIN stock opened at $184.64 on Monday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45. Coinbase Global, Inc. has a 12 month low of $139.11 and a 12 month high of $402.16. The stock has a market cap of $48.72 billion, a P/E ratio of -48.08 and a beta of 3.39. The company has a 50 day simple moving average of $163.48 and a two-hundred day simple moving average of $175.61.
Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share 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 analysts’ expectations of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The company’s revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.14 EPS. On average, research analysts expect that Coinbase Global, Inc. will post -0.39 earnings per share for the current year.
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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