Coinbase Global, Inc. $COIN Position Trimmed by DGS Capital Management LLC

DGS Capital Management LLC decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 23.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,306 shares of the cryptocurrency exchange’s stock after selling 61,314 shares during the period. Coinbase Global accounts for 5.7% of DGS Capital Management LLC’s portfolio, making the stock its 2nd largest position. DGS Capital Management LLC’s holdings in Coinbase Global were worth $34,975,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. MV Capital Management Inc. bought a new stake in shares of Coinbase Global in the 4th quarter worth approximately $27,000. Palisade Asset Management LLC bought a new position in Coinbase Global during the 3rd quarter valued at approximately $29,000. Osbon Capital Management LLC bought a new position in Coinbase Global during the 4th quarter valued at approximately $30,000. Brooklands Fund Management Ltd purchased a new position in Coinbase Global during the fourth quarter valued at $34,000. Finally, Foster Dykema Cabot & Partners LLC purchased a new position in Coinbase Global during the third quarter valued at $35,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings raised Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. President Capital raised their price target on Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. KeyCorp reaffirmed a “sector weight” rating on shares of Coinbase Global in a research report on Wednesday, June 17th. JPMorgan Chase & Co. upped their price target on shares of Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $250.65.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: CEO Brian Armstrong has been highlighting progress on the Bitcoin Clarity Act and pushing for clearer U.S. crypto rules, which could help Coinbase if regulators create a more favorable operating environment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Positive Sentiment: Coinbase is being mentioned alongside major institutions in new blockchain and stablecoin initiatives, including Morpho’s $175 million funding round and a global stablecoin effort with Visa, Mastercard, and BNY, reinforcing Coinbase’s relevance in crypto infrastructure. Morpho Secures $175M Funding from Paradigm and a16z to Scale Blockchain Credit Infrastructure Global Stablecoin Initiative Launched by Visa, Mastercard, BNY, Coinbase, Others
• Positive Sentiment: Some analysts and market commentators continue to frame Coinbase as a core crypto infrastructure play, with recent buy ratings and price targets still implying meaningful upside versus the current share price. COIN Vs. MSTR: Buy Coinbase for Pure Exchange Fees and Structural Infrastructure Moats
• Neutral Sentiment: Crypto-linked stocks are seeing a broader bounce, and Coinbase is participating in the move, but the setup looks more like sector sympathy than a company-specific catalyst. Robinhood Jumps 6% on Bullish Analyst Initiations as Coinbase, Strategy Ride a Crypto-Stock Bounce
• Negative Sentiment: Coinbase’s latest reported quarterly revenue fell 30.5% year over year, and the company missed earnings and revenue expectations, which keeps pressure on the stock’s valuation. Coinbase Global Stock Performance
• Negative Sentiment: Insider activity remains a headwind, with 61 insider sales and no insider purchases over the past six months, which may be weighing on investor sentiment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Negative Sentiment: Technical commentary in the latest discussion notes repeated tests of support levels, with traders warning that a breakdown could send shares lower. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures

Insider Activity at Coinbase Global

In other Coinbase Global news, 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 value of $1,250,490.16. Following the completion of the transaction, the insider 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the transaction, the director owned 30,000 shares in the company, valued at $5,446,200. This represents a 25.00% decrease in their position. 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 a total of 30,647 shares of company stock valued at $5,740,941 over the last three months. 16.66% of the stock is owned by insiders.

Coinbase Global Stock Performance

COIN stock opened at $165.48 on Monday. The stock’s 50 day simple moving average is $177.11 and its 200 day simple moving average is $192.43. 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 $139.18 and a 12-month high of $444.64. The stock has a market capitalization of $43.60 billion, a PE ratio of 62.21, a price-to-earnings-growth ratio of 5.84 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last posted its 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 return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business posted $0.24 EPS. The firm’s revenue for the quarter was down 30.5% on a year-over-year basis. As a group, research analysts forecast that Coinbase Global, Inc. will post 1.74 earnings per share for the current fiscal year.

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.