Fifth Third Bancorp increased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 274.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,678 shares of the cryptocurrency exchange’s stock after purchasing an additional 24,681 shares during the quarter. Fifth Third Bancorp’s holdings in Coinbase Global were worth $5,881,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of COIN. MV Capital Management Inc. acquired a new position in Coinbase Global during the 4th quarter valued at about $27,000. Palisade Asset Management LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $29,000. Osbon Capital Management LLC acquired a new stake in shares of Coinbase Global in the 4th quarter worth approximately $30,000. Brooklands Fund Management Ltd bought a new position in shares of Coinbase Global in the fourth quarter valued at approximately $34,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Coinbase Global by 99.0% in the fourth quarter. Stephens Consulting LLC now owns 201 shares of the cryptocurrency exchange’s stock valued at $45,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.
Insider Buying and Selling
In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the sale, the insider directly owned 517 shares of the company’s stock, valued at approximately $97,718.17. This represents a 92.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Coinbase Global stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 84,753 shares in the company, valued at approximately $14,991,110.64. This trade represents a 2.26% 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 a total of 30,627 shares of company stock worth $5,327,841 in the last quarter. 16.66% of the stock is currently owned by corporate insiders.
Coinbase Global Stock Performance
Coinbase Global (NASDAQ:COIN – Get Free Report) last announced its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter was down 30.5% on a year-over-year basis. As a group, equities analysts predict that Coinbase Global, Inc. will post 1.75 EPS for the current fiscal year.
Analysts Set New Price Targets
Several brokerages recently commented on COIN. Mizuho boosted their target price on Coinbase Global from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Sanford C. Bernstein dropped their price objective on Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Finally, Wolfe Research set a $325.00 price objective on Coinbase Global in a report on Thursday, July 9th. 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 company. According to MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus price target of $245.39.
View Our Latest Analysis on COIN
Coinbase Global News Summary
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Momentum around the CLARITY Act is supporting the long-term case for Coinbase, since the bill could bring more defined U.S. crypto rules and strengthen Coinbase’s position as a regulated exchange and custody provider. Article Title
- Positive Sentiment: Coinbase joined a 140-company stablecoin alliance, which could expand adoption of stablecoins and reinforce Coinbase’s role in crypto payments and infrastructure. Article Title
- Positive Sentiment: Analysts continue to argue Coinbase is well positioned for a crypto recovery, with some noting that many risks may already be priced in and that a rebound in Bitcoin could lift trading activity. Article Title
- Neutral Sentiment: Japan’s crypto regulatory overhaul could attract more institutional money into digital assets, which may indirectly benefit Coinbase if global adoption accelerates. Article Title
- Negative Sentiment: Visa’s new stablecoin platform adds another large, well-capitalized competitor to the stablecoin ecosystem, raising concerns that Coinbase could face more pressure on revenue tied to USDC and stablecoin-related activity. Article Title
- Negative Sentiment: JPMorgan trimmed its expectations for Coinbase and warned that rising stablecoin competition and the Hyperliquid partnership could weigh on stablecoin-related revenue. Article Title
- Negative Sentiment: Broader market weakness and a renewed selloff in chipmakers are pressuring risk assets overall, adding to the downside for COIN. Article Title
Coinbase Global Company 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.
Featured Articles
- Five stocks we like better than Coinbase Global
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN – Free Report).
Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.
