Coinbase Global, Inc. $COIN Shares Sold by National Pension Service

National Pension Service lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 34.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,117 shares of the cryptocurrency exchange’s stock after selling 154,619 shares during the period. National Pension Service’s holdings in Coinbase Global were worth $67,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. REAP Financial Group LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $25,000. Palisade Asset Management LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $29,000. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $35,000. JPL Wealth Management LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $49,000. Finally, GW&K Investment Management LLC boosted its stake in shares of Coinbase Global by 32.2% during the third quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange’s stock worth $51,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling

In related news, CFO Alesia J. Haas sold 10,020 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the transaction, the chief financial officer directly owned 397,171 shares of the company’s stock, valued at $79,434,200. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul Grewal sold 1,960 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the transaction, the insider directly owned 84,753 shares of the company’s stock, valued at $14,991,110.64. This 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 sold 38,566 shares of company stock valued at $7,611,095 over the last ninety days. Corporate insiders own 16.66% of the company’s stock.

Coinbase Global Trading Up 3.7%

NASDAQ COIN opened at $189.03 on Friday. The stock has a market capitalization of $49.80 billion, a P/E ratio of 71.06, a P/E/G ratio of 6.67 and a beta of 3.38. Coinbase Global, Inc. has a 52-week low of $139.36 and a 52-week high of $444.64. The firm has a 50-day moving average price of $188.59 and a 200 day moving average price of $212.18. The company has a quick ratio of 2.34, a current ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. Equities research analysts expect that Coinbase Global, Inc. will post 1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on COIN shares. HC Wainwright decreased their target price on shares of Coinbase Global from $350.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Cantor Fitzgerald increased their target price on shares of Coinbase Global from $221.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Wedbush set a $224.00 target price on shares of Coinbase Global in a research note on Friday, May 8th. UBS Group set a $264.00 target price on shares of Coinbase Global in a research note on Friday, February 13th. Finally, Sanford C. Bernstein decreased their target price on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating for the company in a research note on Monday, March 30th. Nineteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Coinbase Global currently has a consensus rating of “Hold” and an average target price of $252.10.

Coinbase Global News Summary

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

• Positive Sentiment: The CFTC’s actions on perpetual futures and 24/7 trading create a clearer path for Coinbase to expand into a large, regulated derivatives market that could lift fee revenue and deepen customer engagement. Reuters article on Coinbase and Kalshi bringing regulated perpetual crypto futures to U.S. investors
• Positive Sentiment: Coinbase also said it is giving eligible U.S. institutional clients access to global crypto options and perpetual futures through its regulated futures commission merchant, expanding its derivatives offering and strengthening its institutional platform. Cointelegraph article on Coinbase bringing global crypto derivatives markets to U.S. institutional clients
• Positive Sentiment: Analysts and industry coverage are framing the regulatory shift as a bigger opening for Coinbase in a multi-trillion-dollar derivatives market that has largely been offshore until now. MarketWatch article on crypto perpetual contracts coming to the U.S.

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.