Coinbase Global, Inc. $COIN Holdings Lowered by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 7.7% during the first quarter, HoldingsChannel.com reports. The fund owned 1,589,152 shares of the cryptocurrency exchange’s stock after selling 132,046 shares during the quarter. Coinbase Global accounts for approximately 3.9% of Amova Asset Management Americas Inc.’s holdings, making the stock its 6th largest holding. Amova Asset Management Americas Inc.’s holdings in Coinbase Global were worth $277,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC raised its holdings in Coinbase Global by 23.9% during the first quarter. Parallel Advisors LLC now owns 14,331 shares of the cryptocurrency exchange’s stock worth $2,502,000 after purchasing an additional 2,767 shares during the last quarter. SEB Asset Management AB purchased a new position in shares of Coinbase Global in the first quarter valued at $7,373,000. World Equity Group Inc. increased its position in shares of Coinbase Global by 110.8% in the first quarter. World Equity Group Inc. now owns 3,858 shares of the cryptocurrency exchange’s stock valued at $674,000 after buying an additional 2,028 shares in the last quarter. AIA Group Ltd raised its stake in shares of Coinbase Global by 30.2% during the 1st quarter. AIA Group Ltd now owns 4,882 shares of the cryptocurrency exchange’s stock worth $852,000 after buying an additional 1,132 shares during the last quarter. Finally, Mediolanum International Funds Ltd raised its stake in shares of Coinbase Global by 1,516.9% during the 1st quarter. Mediolanum International Funds Ltd now owns 36,816 shares of the cryptocurrency exchange’s stock worth $5,920,000 after buying an additional 34,539 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coinbase Global

In related news, insider Paul Grewal sold 1,960 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value of $346,684.80. Following the transaction, the insider owned 84,753 shares in the company, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 Coinbase Global stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the transaction, the insider directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,627 shares of company stock worth $5,327,841 in the last quarter. Company insiders own 16.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on COIN shares. Monness Crespi & Hardt reissued a “sell” rating on shares of Coinbase Global in a research note on Friday, June 5th. BTIG Research reduced their price target on shares of Coinbase Global from $280.00 to $260.00 and set a “buy” rating on the stock in a report on Monday, July 13th. 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 report on Tuesday, May 12th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a research note on Wednesday, June 17th. Finally, Wolfe Research set a $325.00 price objective on Coinbase Global in a research report on Thursday, July 9th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $245.39.

Coinbase Global Trading Up 2.1%

Shares of COIN opened at $160.43 on Tuesday. Coinbase Global, Inc. has a twelve month low of $139.18 and a twelve month high of $436.38. The firm has a market capitalization of $42.27 billion, a P/E ratio of 60.31, a price-to-earnings-growth ratio of 10.14 and a beta of 3.35. 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 stock’s fifty day simple moving average is $169.28 and its 200 day simple moving average is $186.24.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The firm 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 revenue was down 30.5% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. On average, equities research analysts forecast that Coinbase Global, Inc. will post 1.41 earnings per share for the current year.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase vice chair Ryan VanGrack said Senate negotiators added stronger consumer protections to the CLARITY Act, which could improve the odds of crypto market-structure legislation passing and create a more favorable regulatory backdrop for Coinbase. Article: Democrats added certain consumer protection rules to CLARITY: Coinbase exec
• Positive Sentiment: Multiple headlines featured Coinbase CEO Brian Armstrong defending Bitcoin’s long-term durability and dismissing concerns about miners shifting energy use to AI, which can reinforce Coinbase’s image as a leading crypto industry voice. Article: Coinbase CEO Brian Armstrong: Hash Power Doesn’t Determine Bitcoin’s Price
• Neutral Sentiment: Armstrong also said Bitcoin is likely to remain a long-term gauge of inflation fears and commented that stablecoins, not Bitcoin, have best fulfilled Satoshi’s payments vision; this keeps Coinbase in the center of the crypto narrative but is not a direct business catalyst. Article: Coinbase CEO Brian Armstrong Says Bitcoin Will ‘Mostly’ Be a Measure of Inflation Fears in the Long Term
• Neutral Sentiment: Coinbase shares also got a routine lift from broad market movement, with recent coverage noting the stock outperformed a down market session. Article: Coinbase Global, Inc. (COIN) Ascends While Market Falls: Some Facts to Note
• Negative Sentiment: Prediction markets suggested Coinbase’s second-quarter trading volume may come in below analyst expectations, renewing concern that weaker crypto activity could pressure transaction revenue. Article: Coinbase trading results may fall short of expectations, according to prediction markets
• Negative Sentiment: Another piece argued Coinbase’s Base strategy showed the company may be building for an older crypto cycle, hinting at product and strategic execution risks. Article: Coinbase’s big Base mistake offers an important lesson for the crypto industry

Coinbase Global 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.