Private Advisor Group LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.4% during the first quarter, Holdings Channel reports. The fund owned 22,937 shares of the cryptocurrency exchange’s stock after selling 4,826 shares during the quarter. Private Advisor Group LLC’s holdings in Coinbase Global were worth $4,005,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Palisade Asset Management LLC bought a new stake in Coinbase Global in the third quarter valued at $29,000. MV Capital Management Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $27,000. Osbon Capital Management LLC acquired a new stake in shares of Coinbase Global in the 4th quarter valued at about $30,000. JPL Wealth Management LLC bought a new stake in Coinbase Global in the 3rd quarter valued at about $49,000. Finally, Brooklands Fund Management Ltd acquired a new position in Coinbase Global during the 4th quarter worth approximately $34,000. 68.84% of the stock is owned by institutional investors.
Coinbase Global Price Performance
COIN stock opened at $159.36 on Thursday. The company has a market capitalization of $41.98 billion, a P/E ratio of 59.91, a price-to-earnings-growth ratio of 5.77 and a beta of 3.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. Coinbase Global, Inc. has a 52-week low of $139.18 and a 52-week high of $444.64. The business has a 50-day simple moving average of $175.05 and a two-hundred day simple moving average of $190.72.
Coinbase Global News Summary
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase won U.K. authorization to offer equities and derivatives, expanding its platform beyond crypto and supporting its long-term growth strategy. Coinbase Global (COIN) Is Up 11.8% After Winning UK Approval To Trade Stocks And Derivatives
- Positive Sentiment: Coinbase added Wormhole to spot trading, showing continued exchange activity and keeping the company in the spotlight for new listings. Coinbase Adds Wormhole To Spot Trading As Solana Infrastructure Tokens Gain Visibility
- Positive Sentiment: Base, Coinbase’s layer-2 network, is seeing stronger DEX activity and new token-standard rollout, which could support ecosystem growth and trading volume. Base to activate B20 standard for stablecoins, RWAs and other tokens
- Neutral Sentiment: Analysts are previewing Coinbase’s upcoming quarterly earnings and expect strong year-over-year bottom-line growth, but results have not yet been reported. Coinbase Global Earnings Preview: What to Expect
- Negative Sentiment: Broader crypto weakness, including a Bitcoin selloff tied to geopolitical headlines, may be weighing on sentiment for Coinbase as a crypto-linked stock. Trump declares Iran ceasefire over; bitcoin and crypto markets drop
- Negative Sentiment: A Coinbase director sold 10,000 shares under a pre-arranged plan, which can still create a mild headwind for investor sentiment. Frederick Wilson Sells 10,000 Shares of Coinbase Global (NASDAQ:COIN) Stock
Insider Activity at Coinbase Global
In related news, CAO Jennifer N. Jones sold 2,051 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total value of $1,590,900.00. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at $3,181,800. The trade was a 33.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,647 shares of company stock valued at $7,331,841 over the last 90 days. Corporate insiders own 16.66% of the company’s stock.
Analyst Ratings Changes
Several research analysts have issued reports on COIN shares. JPMorgan Chase & Co. increased their price target on Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Rothschild & Co Redburn upped their target price on Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. KeyCorp reissued a “sector weight” rating on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, Citizens Jmp reduced their price target on shares of Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a research report on Friday, April 10th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $250.65.
Check Out Our Latest Stock Analysis on Coinbase Global
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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