Coinbase Global, Inc. $COIN Holdings Lifted by Ethic Inc.

Ethic Inc. increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 15.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,207 shares of the cryptocurrency exchange’s stock after acquiring an additional 2,652 shares during the period. Ethic Inc.’s holdings in Coinbase Global were worth $6,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Evelyn Partners Investment Management Europe Ltd lifted its position in shares of Coinbase Global by 92.3% in the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock worth $29,000 after purchasing an additional 36 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Coinbase Global in the 2nd quarter valued at approximately $30,000. City State Bank purchased a new stake in Coinbase Global in the 2nd quarter worth approximately $33,000. Financial Gravity Companies Inc. purchased a new stake in Coinbase Global in the 2nd quarter worth approximately $34,000. Finally, Fourth Dimension Wealth LLC boosted its stake in shares of Coinbase Global by 300.0% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 100 shares of the cryptocurrency exchange’s stock valued at $35,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Down 1.3%

Shares of COIN stock opened at $233.77 on Tuesday. The stock’s 50 day simple moving average is $281.67 and its 200 day simple moving average is $318.48. Coinbase Global, Inc. has a twelve month low of $142.58 and a twelve month high of $444.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market capitalization of $63.03 billion, a price-to-earnings ratio of 20.22 and a beta of 3.69.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company’s revenue was up 55.1% on a year-over-year basis. As a group, research analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In other Coinbase Global news, CEO Brian Armstrong sold 40,000 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $271.87, for a total transaction of $10,874,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 277,074 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $309.92, for a total value of $85,870,774.08. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 833,179 shares of company stock worth $250,839,195. 16.56% of the stock is owned by insiders.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: PNC bank partnership expands institutional/retail distribution of Coinbase services — this is a concrete business development that can grow volumes and client access over time. Article Title Article Title
• Neutral Sentiment: CEO Brian Armstrong’s public defense of Bitcoin as “good for the USD” is pro-adoption messaging that supports long-term demand for Coinbase services but is unlikely to move near-term revenue. Article Title
• Neutral Sentiment: Armstrong’s prediction that banks will eventually lobby for stablecoin yields signals an expected evolution in the market (potentially positive long term) but doubles as a reminder of policy and competitive uncertainty. Article Title
• Neutral Sentiment: General market quote pages and share-tracking posts are circulating but add little newinfo beyond intraday price moves. Article Title
• Negative Sentiment: Needham cut earnings/industry estimates and lowered Coinbase’s price target from $400 to $290 — the downgrade in expectations is pressuring the stock despite Needham keeping a “buy” rating. Article Title Needham interview
• Negative Sentiment: Market indicators show Bitcoin stalling (around the $87–90k area) and the Coinbase Premium Index moving deep red — weaker crypto price action tends to hit Coinbase transaction revenue and investor sentiment. Article Title
• Negative Sentiment: Armstrong’s warning about reopening the GENIUS Act and his call-out of bank lobbying highlights regulatory risk and political friction that could create uncertainty or headwinds for Coinbase’s product roadmap (stablecoin rewards/competition). Article Title

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Mizuho set a $280.00 price target on shares of Coinbase Global in a research note on Tuesday, December 16th. Rothschild & Co Redburn lowered their target price on Coinbase Global from $417.00 to $404.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Needham & Company LLC cut their price target on Coinbase Global from $400.00 to $290.00 and set a “buy” rating for the company in a research note on Monday. President Capital lifted their price target on Coinbase Global from $401.00 to $472.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Erste Group Bank cut Coinbase Global from a “buy” rating to a “hold” rating in a research note on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.88.

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.