QRG Capital Management Inc. Buys 9,532 Shares of Coinbase Global, Inc. $COIN

QRG Capital Management Inc. grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 65.4% in the first quarter, HoldingsChannel.com reports. The firm owned 24,102 shares of the cryptocurrency exchange’s stock after buying an additional 9,532 shares during the quarter. QRG Capital Management Inc.’s holdings in Coinbase Global were worth $4,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Palisade Asset Management LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $29,000. Foster Dykema Cabot & Partners LLC bought a new stake in Coinbase Global in the 3rd quarter worth $35,000. MV Capital Management Inc. bought a new stake in Coinbase Global in the 4th quarter worth $27,000. Osbon Capital Management LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at about $30,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Coinbase Global in the third quarter valued at about $49,000. Institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on COIN shares. Citizens Jmp dropped their target price on shares of Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a report on Friday, April 10th. Piper Sandler reduced their price target on Coinbase Global from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Wedbush set a $224.00 price target on Coinbase Global in a research report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, Rothschild & Co Redburn increased their price objective on Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $250.65.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: CEO Brian Armstrong has been highlighting progress on the Bitcoin Clarity Act and pushing for clearer U.S. crypto rules, which could help Coinbase if regulators create a more favorable operating environment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Positive Sentiment: Coinbase is being mentioned alongside major institutions in new blockchain and stablecoin initiatives, including Morpho’s $175 million funding round and a global stablecoin effort with Visa, Mastercard, and BNY, reinforcing Coinbase’s relevance in crypto infrastructure. Morpho Secures $175M Funding from Paradigm and a16z to Scale Blockchain Credit Infrastructure Global Stablecoin Initiative Launched by Visa, Mastercard, BNY, Coinbase, Others
• Positive Sentiment: Some analysts and market commentators continue to frame Coinbase as a core crypto infrastructure play, with recent buy ratings and price targets still implying meaningful upside versus the current share price. COIN Vs. MSTR: Buy Coinbase for Pure Exchange Fees and Structural Infrastructure Moats
• Neutral Sentiment: Crypto-linked stocks are seeing a broader bounce, and Coinbase is participating in the move, but the setup looks more like sector sympathy than a company-specific catalyst. Robinhood Jumps 6% on Bullish Analyst Initiations as Coinbase, Strategy Ride a Crypto-Stock Bounce
• Negative Sentiment: Coinbase’s latest reported quarterly revenue fell 30.5% year over year, and the company missed earnings and revenue expectations, which keeps pressure on the stock’s valuation. Coinbase Global Stock Performance
• Negative Sentiment: Insider activity remains a headwind, with 61 insider sales and no insider purchases over the past six months, which may be weighing on investor sentiment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Negative Sentiment: Technical commentary in the latest discussion notes repeated tests of support levels, with traders warning that a breakdown could send shares lower. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures

Insiders Place Their Bets

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the transaction, the insider owned 517 shares in the company, valued at approximately $97,718.17. This represents a 92.75% decrease in their position. The transaction was disclosed in a legal 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, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the transaction, the chief financial officer owned 377,201 shares in the company, valued at $75,440,200. This trade represents a 2.59% decrease in their position. 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 a total of 30,647 shares of company stock valued at $5,740,941 over the last ninety days. 16.66% of the stock is owned by corporate insiders.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $165.48 on Monday. The firm has a fifty day simple moving average of $177.11 and a two-hundred day simple moving average of $192.43. Coinbase Global, Inc. has a 12 month low of $139.18 and a 12 month high of $444.64. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $43.60 billion, a PE ratio of 62.21, a price-to-earnings-growth ratio of 5.84 and a beta of 3.35.

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

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.