Amova Asset Management Americas Inc. Increases Stock Holdings in Coinbase Global, Inc. $COIN

Amova Asset Management Americas Inc. grew its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,721,198 shares of the cryptocurrency exchange’s stock after buying an additional 13,187 shares during the period. Coinbase Global accounts for approximately 4.5% of Amova Asset Management Americas Inc.’s holdings, making the stock its 4th biggest position. Amova Asset Management Americas Inc.’s holdings in Coinbase Global were worth $389,215,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of COIN. Norges Bank bought a new stake in shares of Coinbase Global during the 4th quarter valued at $656,744,000. Vanguard Group Inc. boosted its holdings in shares of Coinbase Global by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock valued at $8,847,905,000 after buying an additional 2,007,930 shares in the last quarter. Capital World Investors boosted its holdings in shares of Coinbase Global by 847.2% during the 4th quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange’s stock valued at $347,472,000 after buying an additional 1,374,318 shares in the last quarter. Ruffer LLP bought a new stake in shares of Coinbase Global during the 4th quarter valued at $166,515,000. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $224,663,000. Institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $155.50 on Wednesday. The business’s fifty day simple moving average is $185.72 and its two-hundred day simple moving average is $205.77. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64. The company has a market cap of $40.97 billion, a price-to-earnings ratio of 58.46, a P/E/G ratio of 5.16 and a beta of 3.32.

Coinbase Global (NASDAQ:COIN) last issued its 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 business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. Research analysts anticipate that Coinbase Global, Inc. will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Paul Grewal sold 1,960 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the sale, the insider directly owned 84,753 shares in the company, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $181.54, for a total value of $1,815,400.00. Following the sale, the director owned 30,000 shares in the company, valued at approximately $5,446,200. This represents a 25.00% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 40,597 shares of company stock worth $7,746,861. Insiders own 16.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COIN shares. Weiss Ratings raised Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. B. Riley Financial reduced their price objective on Coinbase Global from $243.00 to $203.00 and set a “neutral” rating for the company in a research report on Monday, June 1st. HC Wainwright reduced their price objective on Coinbase Global from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 8th. UBS Group set a $264.00 price objective on Coinbase Global in a research report on Friday, February 13th. Finally, Rothschild & Co Redburn raised their price objective on Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Nineteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and an average price target of $250.23.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase executive John D’Agostino said institutional investors, family offices, and sovereign funds are still buying Bitcoin during the selloff, reinforcing the view that long-term crypto demand remains intact and supporting Coinbase’s institutional business. Institutions Don’t Mind Scooping Up Bitcoin At A Discount, Says Top Coinbase Exec
• Positive Sentiment: Coinbase is expanding its product set with a new card tied to stablecoin collateral, which could broaden usage and attract customers who cannot access traditional credit cards. Coinbase Card Lets Credit Insecure Customers Use Crypto as Collateral
• Positive Sentiment: Industry momentum around the U.S. Clarity Act could improve the regulatory backdrop for Coinbase and other major crypto firms if lawmakers advance clearer market rules. Over 200 Crypto Groups Urge Senate Clarity Act Vote
• Neutral Sentiment: Reports that OKX is expanding tokenized stock and commodity perpetuals in Europe add competitive noise, but the direct impact on Coinbase’s near-term earnings is unclear. OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures
• Neutral Sentiment: Short-interest data appears broken or incomplete in the feed, so it does not provide a reliable trading signal for investors.
• Negative Sentiment: Coinbase CAO Jennifer N. Jones sold 2,051 shares in a pre-arranged 10b5-1 plan, which may add to investor caution even though the transaction was routine. Coinbase Global, Inc. CAO Jennifer N. Jones Insider Transaction
• Negative Sentiment: Wall Street commentary remains cautious after Bitcoin’s recent weakness, with some articles saying investors are losing faith in COIN as crypto prices fall and valuation risk stays high. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock

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.