ABN AMRO Bank N.V. Sells 4,350 Shares of Coinbase Global, Inc. $COIN

ABN AMRO Bank N.V. trimmed its position in Coinbase Global, Inc. (NASDAQ:COIN) by 77.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,250 shares of the cryptocurrency exchange’s stock after selling 4,350 shares during the period. ABN AMRO Bank N.V.’s holdings in Coinbase Global were worth $219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COIN. Palisade Asset Management LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $29,000. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Coinbase Global in the 3rd quarter worth about $35,000. MV Capital Management Inc. purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $27,000. Osbon Capital Management LLC purchased a new position in shares of Coinbase Global during the fourth quarter valued at approximately $30,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Coinbase Global in the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $149.06 on Monday. 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’s 50 day moving average is $181.75 and its 200 day moving average is $196.32. The stock has a market capitalization of $39.27 billion, a P/E ratio of 56.04, a P/E/G ratio of 5.26 and a beta of 3.32.

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). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. Coinbase Global’s quarterly revenue was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Research analysts expect that Coinbase Global, Inc. will post 1.74 earnings per share for the current year.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase secured a MiCA license in Luxembourg, giving it access to offer regulated crypto services across all 27 EU member states. That expands its international growth opportunity and signals progress on regulatory compliance. Coinbase (COIN) Secures MiCA License And Opens Luxembourg Hub For 27 EU States
• Positive Sentiment: ARK Invest reportedly bought more Coinbase shares during the recent pullback, a sign that a high-profile investor sees value at lower prices. ARK Invest Doubles Down on Coinbase (COIN), Circle, and Robinhood (HOOD) During Market Pullback
• Neutral Sentiment: Coinbase’s Base blockchain recovered after a roughly two-hour outage caused by a consensus issue and invalid block. The incident was temporary, but it may keep attention on operational reliability for Coinbase’s ecosystem. Coinbase’s Base resumes block production after 2-hour outage
• Negative Sentiment: The Base outage itself highlights execution risk in Coinbase’s layer-2 network and could weigh on sentiment if investors worry about infrastructure stability. Base Network Stalls After Invalid Block Freezes Sequencer
• Negative Sentiment: Broader crypto weakness is also a headwind: Ether plunged sharply, and articles noted a wider selloff across major tech and crypto-related names. Since Coinbase is highly tied to crypto trading volumes and market sentiment, weaker crypto prices can pressure the stock. Tether stablecoin flips Ether by market cap as ETH routs to $1.5K

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Compass Point restated a “sell” rating on shares of Coinbase Global in a research note on Monday, June 1st. Mizuho lifted their price objective on Coinbase Global from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. President Capital increased their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. HC Wainwright reduced their price objective on shares of Coinbase Global from $350.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $270.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 17th. Eighteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $250.65.

Insider Buying and Selling at Coinbase Global

In other news, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total value of $1,250,490.16. Following the completion of the sale, the insider directly owned 517 shares in the company, valued at $97,718.17. This represents a 92.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. 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. Over the last ninety days, insiders have sold 30,647 shares of company stock worth $5,740,941. Insiders own 16.66% of the company’s stock.

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.