Coinbase Global, Inc. $COIN Stock Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 12.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,463 shares of the cryptocurrency exchange’s stock after selling 5,588 shares during the period. First Citizens Bank & Trust Co.’s holdings in Coinbase Global were worth $7,504,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp bought a new stake in shares of Coinbase Global during the 2nd quarter worth $142,995,000. Southpoint Capital Advisors LP purchased a new stake in Coinbase Global during the first quarter worth about $104,766,000. National Pension Service raised its position in Coinbase Global by 117.1% in the second quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange’s stock worth $93,784,000 after acquiring an additional 346,045 shares during the period. Paradigm Operations LP boosted its stake in Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after acquiring an additional 134,425 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Coinbase Global by 366.7% in the second quarter. Assenagon Asset Management S.A. now owns 154,702 shares of the cryptocurrency exchange’s stock valued at $22,616,000 after acquiring an additional 121,552 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: International expansion: Coinbase plans to add stock trading, derivatives and prediction markets to Coinbase Australia, subject to Australian regulatory approval. The move supports management’s strategy to build an “everything exchange” and diversify beyond cryptocurrency trading. What Does Coinbase Global Entering Australian Stocks and Derivatives Mean?
• Positive Sentiment: Compliance and institutional credibility: Coinbase assisted the U.S. Department of Justice and the U.K. National Crime Agency in tracing funds and freezing assets linked to West African crypto scams. The cooperation could strengthen Coinbase’s reputation with regulators and institutional customers. Coinbase Joins DOJ and UK Crime Agency to Target West Africa Crypto Scams
• Positive Sentiment: Industry support: Tether co-founder Reeve Collins identified Coinbase, along with Circle and Robinhood, as leading blockchain-finance stocks, providing a favorable—though nonbinding—endorsement. Tether Co-Founder Names Coinbase, Circle and Robinhood as Top Blockchain Stocks
• Neutral Sentiment: Bitcoin security planning: Coinbase published a paper urging preparations for quantum-computing threats to Bitcoin and highlighted potential quantum-resistant wallet designs. The initiative may reduce long-term custody risk, but it does not provide an immediate earnings catalyst. Coinbase Paper Outlines Bitcoin Post-Quantum Security Plan
• Neutral Sentiment: Government crypto transfer: Wallets linked to the U.S. government moved more than $100 million in seized cryptocurrency to Coinbase Prime. No sale was confirmed, so the transaction’s effect on trading volume and revenue remains uncertain. US Government Wallets Move Over $100 Million in Seized Crypto
• Negative Sentiment: Competitive pressure: Robinhood Chain reportedly surpassed Coinbase’s Base network in 30-day trading volume, raising concerns that Coinbase could face growing competition for decentralized-finance activity and associated ecosystem revenue. Robinhood Chain Hits $100 Billion and Outtrades Base
• Negative Sentiment: Revenue concerns remain the main overhang: Analysts and commentary question whether Coinbase’s revenue decline has ended, particularly because management’s prior guidance did not clearly signal a recovery. Bitcoin’s weakening Coinbase premium also suggests softer U.S. demand, potentially pressuring transaction activity. Is Coinbase Stock Ready for a Longer Revenue Slide? Bitcoin Coinbase Premium Deepens as U.S. Demand Weakens

Insiders Place Their Bets

In related news, Director Frederick R. Wilson sold 35,068 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $144.32, for a total value of $5,061,013.76. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 39,030 shares of Coinbase Global stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $205.24, for a total transaction of $8,010,517.20. Following the sale, the chief financial officer owned 345,376 shares of the company’s stock, valued at approximately $70,884,970.24. The trade was a 10.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 127,188 shares of company stock worth $23,029,558 over the last three months. Company insiders own 16.66% of the company’s stock.

Coinbase Global Price Performance

NASDAQ:COIN opened at $181.79 on Wednesday. The firm has a market capitalization of $47.96 billion, a price-to-earnings ratio of -47.34 and a beta of 3.41. Coinbase Global, Inc. has a 52-week low of $139.11 and a 52-week high of $373.25. The stock has a fifty day moving average of $176.63 and a 200 day moving average of $174.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%. Coinbase Global’s revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.14 earnings per share. On average, research analysts expect that Coinbase Global, Inc. will post -0.50 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COIN. Robert W. Baird upped their price objective on Coinbase Global from $130.00 to $205.00 and gave the company a “neutral” rating in a research note on Monday, September 28th. Citigroup boosted their price objective on Coinbase Global from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Research raised shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $212.00 target price on shares of Coinbase Global in a report on Monday, August 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $265.00 price target on shares of Coinbase Global in a research report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $224.44.

Coinbase Global Company Profile

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.