Lawrence Brock Sells 6,616 Shares of Coinbase Global (NASDAQ:COIN) Stock

Coinbase Global, Inc. (NASDAQ:COIN) insider Lawrence Brock sold 6,616 shares of the firm’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 sale, the insider directly owned 517 shares of the company’s stock, valued at approximately $97,718.17. The trade was a 92.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Stock Performance

NASDAQ COIN opened at $182.25 on Friday. The firm has a market cap of $48.02 billion, a price-to-earnings ratio of 68.52, a PEG ratio of 6.13 and a beta of 3.38. The company has a 50 day moving average of $188.86 and a 200-day moving average of $212.34. The company has a current ratio of 2.14, a quick ratio of 2.34 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 1-year low of $139.36 and a 1-year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing the consensus estimate 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 last year, the company earned $0.24 earnings per share. Coinbase Global’s revenue for the quarter was down 30.5% compared to the same quarter last year. On average, equities analysts forecast that Coinbase Global, Inc. will post 1.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coinbase Global

A number of hedge funds and other institutional investors have recently made changes to their positions in COIN. Integrated Wealth Concepts LLC raised its holdings in shares of Coinbase Global by 24.2% during the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock worth $365,000 after acquiring an additional 413 shares during the period. Empowered Funds LLC raised its holdings in shares of Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after acquiring an additional 1,761 shares during the period. 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 last quarter. Sivia Capital Partners LLC acquired a new stake in Coinbase Global in the 2nd quarter valued at $285,000. Finally, Cerity Partners LLC increased its stake in Coinbase Global by 8.6% in the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after buying an additional 1,402 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on COIN shares. Jefferies Financial Group increased their price target on shares of Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a research note on Thursday, April 9th. Bank of America decreased their price target on shares of Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. Mizuho increased their price target on shares of Coinbase Global from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Sanford C. Bernstein decreased their price target on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Finally, Weiss Ratings cut shares of Coinbase Global from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Nineteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $252.10.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase expanded its institutional fiat infrastructure through a partnership with Standard Chartered, adding multi-currency funding and settlement rails for AUD, SGD, CAD, CHF, EUR and GBP. This could make it easier for global institutions to move money onto and off the platform, supporting trading volumes and Coinbase’s international growth. Coinbase, Standard Chartered Partner to Add 6 Currency Access
• Positive Sentiment: Coinbase’s Base network launched an AI-focused wallet integration tool that lets assistants like ChatGPT and Claude interact with crypto wallets and execute on-chain actions. Investors may view this as a new growth avenue tied to AI-enabled crypto usage. Base launches new tool to connect crypto wallets to AI agents
• Positive Sentiment: CEO Brian Armstrong said Coinbase’s new Direct Deposit feature is live, allowing users to route part of their paycheck directly into crypto purchases. That could improve customer engagement and make recurring buying easier. Brian Armstrong Says You Can Now Route Your Paycheck Directly To Coinbase For Automatic Crypto Investments
• Positive Sentiment: Goldman Sachs raised its price target on Coinbase and kept a buy rating, reinforcing the view that analysts still see meaningful upside from current levels. Goldman Sachs adjusts price target on Coinbase Global
• Neutral Sentiment: Some market commentary says Coinbase may still be range-bound and dependent on a stronger crypto market, so product news alone may not be enough to sustain momentum. Stock Of The Day: Is This The New Range For Coinbase
• Neutral Sentiment: Recent crypto headlines also point to weaker Bitcoin demand and negative Coinbase Premium readings, which could weigh on near-term trading activity. Sell in May and Walk Away” Plays Out as Bitcoin Flashes Bearish Signals
• Negative Sentiment: Insider Lawrence J. Brock sold shares under a pre-arranged trading plan, which may still be read cautiously by investors even though it does not necessarily signal a change in fundamentals. Coinbase insider trade filing

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.