Clearbridge Investments LLC Sells 10,716 Shares of Coinbase Global, Inc. $COIN

Clearbridge Investments LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 20.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 41,759 shares of the cryptocurrency exchange’s stock after selling 10,716 shares during the period. Clearbridge Investments LLC’s holdings in Coinbase Global were worth $9,443,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Palisade Asset Management LLC bought a new stake in Coinbase Global during the third quarter valued at about $29,000. Foster Dykema Cabot & Partners LLC bought a new position in shares of Coinbase Global in the third quarter worth about $35,000. JPL Wealth Management LLC bought a new position in shares of Coinbase Global in the third quarter worth about $49,000. GW&K Investment Management LLC boosted its stake in shares of Coinbase Global by 32.2% in the third quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange’s stock worth $51,000 after acquiring an additional 37 shares during the period. Finally, Y.D. More Investments Ltd bought a new position in shares of Coinbase Global in the third quarter worth about $57,000. Institutional investors own 68.84% of the company’s stock.

Insider Activity at Coinbase Global

In other news, insider Paul Grewal sold 1,960 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value of $346,684.80. Following the sale, the insider directly owned 84,753 shares in the company, valued at $14,991,110.64. The trade was a 2.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider owned 517 shares in the company, valued at approximately $97,718.17. This trade represents a 92.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 40,597 shares of company stock valued at $7,746,861 in the last 90 days. 16.66% of the stock is currently owned by insiders.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $153.97 on Thursday. The stock has a 50 day moving average of $185.58 and a 200 day moving average of $205.18. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64. The firm has a market cap of $40.56 billion, a PE ratio of 57.88, a PEG ratio of 4.95 and a beta of 3.32. 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 (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS 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 firm 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 company posted $0.24 earnings per share. Coinbase Global’s quarterly revenue was down 30.5% on a year-over-year basis. On average, research analysts expect that Coinbase Global, Inc. will post 1.93 EPS for the current fiscal year.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase is featured in Mastercard’s new AI-agent payments push, alongside Ripple and other major crypto firms, which highlights Coinbase’s role in emerging payments infrastructure and could support longer-term growth. Mastercard Taps Coinbase, Ripple and Crypto Firms for AI Agent Payments
• Positive Sentiment: Coinbase executives said institutions, family offices, and sovereign funds are still buying Bitcoin on weakness, signaling durable demand in the crypto market and reinforcing a constructive backdrop for Coinbase’s trading and institutional businesses. Institutional Conviction Remains Strong Despite Bitcoin Downturn, According to Coinbase Executive
• Positive Sentiment: Coinbase continues to expand stablecoin and payments products, including a card concept for users who can’t access traditional credit, which could broaden its customer base and deepen ecosystem usage. Coinbase Card Lets Credit Insecure Customers Use Crypto as Collateral
• Neutral Sentiment: New market-structure developments around Pyth indexes and tokenized 24/7 pricing show the industry is innovating, but the direct impact on Coinbase’s near-term earnings remains unclear. Pyth unveils continuous pricing indexes for US stocks and commodities
• Neutral Sentiment: Coinbase CAO Jennifer Jones sold 2,051 shares under a pre-arranged 10b5-1 plan; the sale is routine, but insider selling can still add some investor caution. Coinbase Global, Inc. CAO Jennifer N. Jones Insider Transaction
• Negative Sentiment: Articles focused on Bitcoin’s recent weakness and skepticism toward Coinbase stock are weighing on sentiment, since COIN remains highly tied to crypto prices and trading activity. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock
• Negative Sentiment: Competitive pressure is also building, with rivals expanding tokenized stock and commodity derivatives offerings in Europe, which could intensify competition in Coinbase-adjacent crypto trading products. OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures

Analyst Upgrades and Downgrades

COIN has been the subject of a number of recent analyst reports. Wedbush set a $224.00 price objective on Coinbase Global in a research note on Friday, May 8th. China Renaissance dropped their price objective on Coinbase Global from $301.50 to $223.20 and set a “buy” rating for the company in a research note on Monday, February 23rd. Canaccord Genuity Group dropped their price objective on Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Weiss Ratings raised Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. upped their price objective on Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Eighteen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $250.23.

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.