Coinbase Global (NASDAQ:COIN) CAO Sells $389,202.50 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 2,062 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $188.75, for a total transaction of $389,202.50. The sale was disclosed in a 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 Price Performance

Coinbase Global stock traded down $5.38 during mid-day trading on Wednesday, hitting $181.78. The company’s stock had a trading volume of 6,209,237 shares, compared to its average volume of 10,349,180. The stock has a market capitalization of $47.96 billion, a P/E ratio of -47.34 and a beta of 3.36. Coinbase Global, Inc. has a twelve month low of $139.11 and a twelve month high of $402.16. The stock’s fifty day moving average price is $159.23 and its two-hundred day moving average price is $174.17. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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 analyst estimates of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. Coinbase Global’s revenue was down 18.5% on a year-over-year basis. During the same quarter last year, the company posted $5.14 EPS. Research analysts forecast that Coinbase Global, Inc. will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On Coinbase Global

Hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its position in shares of Coinbase Global by 24.2% in the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 413 shares in the last quarter. Empowered Funds LLC grew its position in Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after purchasing an additional 1,761 shares in the last quarter. Focus Partners Wealth increased its stake in Coinbase Global by 9.9% in the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after buying an additional 467 shares during the period. Sivia Capital Partners LLC purchased a new stake in Coinbase Global in the 2nd quarter worth approximately $285,000. Finally, Cerity Partners LLC lifted its position in Coinbase Global by 8.6% in the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock worth $6,203,000 after buying an additional 1,402 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Key Coinbase Global News

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

• Positive Sentiment: Tokenized-stock expansion: Coinbase launched tokenized U.S. equities on its Base blockchain for eligible non-U.S. users. The products are designed for 24/7 trading and use across decentralized finance, potentially creating new trading, custody and infrastructure revenue streams. Coinbase Debuts Tokenized Stocks On Base Network
• Positive Sentiment: Chainlink integration: Chainlink will provide pricing data for the tokenized stocks, allowing them to potentially serve as collateral in lending markets, decentralized exchanges and structured products. Coinbase Taps Chainlink to Power Tokenized Stocks on Base
• Positive Sentiment: New lending product: Coinbase and Better introduced a token-backed conforming mortgage for Coinbase One members, enabling eligible crypto holders to access home financing without immediately selling their digital assets. The offering could expand Coinbase’s financial-services ecosystem, although adoption and credit risks remain unproven. Coinbase and Better Unveil a Token-Backed Mortgage
• Positive Sentiment: Supportive analyst action: Goldman Sachs reiterated a Buy rating and raised its price target to $196, providing a modest positive signal for investor sentiment. Goldman Sachs Reiterates Buy Ratings
• Neutral Sentiment: Argus reaffirmed its Hold rating, indicating that analysts remain divided on COIN’s valuation and earnings outlook. Benzinga analyst rating report
• Negative Sentiment: Crypto-market pressure: Bitcoin’s retreat and profit-taking after its recent rally weakened sentiment across exchange and mining stocks. With Coinbase’s results tied closely to crypto trading activity, a sustained pullback could reduce volumes and revenue. Coinbase Slips as Crypto Pullback Pressures Exchange Stocks
• Negative Sentiment: Reports also show continued insider selling, with several Coinbase executives selling shares and no reported open-market purchases over the referenced six-month period, potentially adding to short-term investor caution.

Analyst Ratings Changes

A number of equities analysts recently weighed in on COIN shares. UBS Group set a $155.00 price target on Coinbase Global in a research note on Friday, July 31st. Oppenheimer reduced their price objective on shares of Coinbase Global from $209.00 to $193.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Benchmark decreased their target price on shares of Coinbase Global from $270.00 to $230.00 and set a “buy” rating for the company in a report on Friday, July 31st. BTIG Research dropped their target price on shares of Coinbase Global from $260.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Finally, President Capital boosted their price target on shares of Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $215.90.

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.