Coinbase Global (NASDAQ:COIN) CFO Sells 39,030 Shares

Coinbase Global, Inc. (NASDAQ:COIN) CFO Alesia Haas sold 39,030 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $205.24, for a total transaction of $8,010,517.20. Following the completion of the transaction, the chief financial officer owned 345,376 shares in the company, valued at approximately $70,884,970.24. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Trading Down 1.5%

COIN traded down $2.94 on Wednesday, reaching $198.13. 7,137,768 shares of the company traded hands, compared to its average volume of 10,351,209. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. The company has a market cap of $52.27 billion, a P/E ratio of -51.60 and a beta of 3.39. The firm has a fifty day simple moving average of $168.84 and a two-hundred day simple moving average of $176.15. Coinbase Global, Inc. has a one year low of $139.11 and a one year high of $402.16.

Coinbase Global (NASDAQ:COINGet Free Report) last issued its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The company 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 business’s revenue was down 18.5% compared to the same quarter last year. During the same period last year, the business posted $5.14 earnings per share. As a group, equities research analysts expect that Coinbase Global, Inc. will post -0.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in COIN. Sequoia Financial Advisors LLC grew its position in shares of Coinbase Global by 185.5% in the second quarter. Sequoia Financial Advisors LLC now owns 25,507 shares of the cryptocurrency exchange’s stock valued at $3,729,000 after purchasing an additional 16,572 shares in the last quarter. Whetstone Capital Advisors LLC boosted its stake in Coinbase Global by 86.3% during the second quarter. Whetstone Capital Advisors LLC now owns 47,048 shares of the cryptocurrency exchange’s stock worth $6,878,000 after buying an additional 21,788 shares during the last quarter. National Pension Service boosted its stake in Coinbase Global by 117.1% during the second quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange’s stock worth $93,784,000 after buying an additional 346,045 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Coinbase Global in the 2nd quarter valued at $417,000. Finally, Integrated Wealth Concepts LLC grew its holdings in Coinbase Global by 111.2% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 11,585 shares of the cryptocurrency exchange’s stock valued at $1,694,000 after buying an additional 6,100 shares in the last quarter. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

COIN has been the topic of a number of recent research reports. 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. Morgan Stanley assumed coverage on shares of Coinbase Global in a research note on Thursday, September 10th. They issued an “equal weight” rating and a $250.00 price objective for the company. Citigroup reiterated a “market outperform” rating on shares of Coinbase Global in a report on Friday, July 31st. Citizens Jmp cut their target price on shares of Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Finally, Piper Sandler reduced their price target on shares of Coinbase Global from $155.00 to $146.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Nineteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $219.97.

Get Our Latest Analysis on COIN

Coinbase Global News Roundup

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

  • Positive Sentiment: Coinbase’s launch of retail IPO access, beginning with Oura, is reinforcing its strategy to become a broader financial platform. The service could create new fee revenue and increase customer engagement, although allocations are limited and not guaranteed. Coinbase Opens IPO Allocations To US Retail Traders Starting With Oura
  • Positive Sentiment: Coinbase introduced fixed-rate USDC loans backed by Bitcoin through Morpho Midnight on Base. Locking in borrowing costs and repayment dates may make the product more attractive than variable-rate alternatives; Coinbase said its existing variable-rate loans exceed $1.4 billion. Coinbase Introduces Fixed-Rate Bitcoin Collateral Loans via Morpho Midnight Integration
  • Positive Sentiment: Coinbase is providing USDC settlement infrastructure for Roundtable’s decentralized media-payment platform, and Roundtable shares began trading on Coinbase. The partnership supports Coinbase’s stablecoin, custody and institutional-services businesses, though the financial impact is not yet quantified. Powered by Coinbase, Roundtable’s Real-Time DeFi Media Payment Platform Goes Live
  • Neutral Sentiment: The SEC’s new pathway for tokenized stocks could benefit Coinbase as it expands into tokenized equities, derivatives and prediction markets. The opportunity is significant, but competitive and regulatory hurdles remain, and many existing tokenized-stock products may not qualify. Winners and losers of the SEC’s new tokenized stocks rules
  • Negative Sentiment: A recent Coinbase service outage temporarily prevented some customers from trading or viewing balances, raising reliability and reputational concerns. In addition, the current market pullback and Coinbase’s high sensitivity to crypto prices are weighing on sentiment despite Bitcoin’s relative stability. Crypto Crash Panic: Coinbase Goes Down as Bitcoin Hits $85K

About Coinbase Global

(Get Free Report)

Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.

Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.

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Insider Buying and Selling by Quarter for Coinbase Global (NASDAQ:COIN)

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