Private Advisor Group LLC Has $4 Million Stock Position in Coinbase Global, Inc. $COIN

Private Advisor Group LLC lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,937 shares of the cryptocurrency exchange’s stock after selling 4,826 shares during the quarter. Private Advisor Group LLC’s holdings in Coinbase Global were worth $4,005,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Optas LLC boosted its holdings in shares of Coinbase Global by 2.4% during the 1st quarter. Optas LLC now owns 8,525 shares of the cryptocurrency exchange’s stock valued at $1,489,000 after acquiring an additional 199 shares in the last quarter. DeDora Capital Inc. raised its position in Coinbase Global by 7.8% in the first quarter. DeDora Capital Inc. now owns 2,163 shares of the cryptocurrency exchange’s stock valued at $378,000 after purchasing an additional 156 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Coinbase Global by 36.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 30,681 shares of the cryptocurrency exchange’s stock valued at $5,357,000 after purchasing an additional 8,236 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Coinbase Global by 67.0% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 52,560 shares of the cryptocurrency exchange’s stock valued at $9,178,000 after purchasing an additional 21,080 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC grew its holdings in shares of Coinbase Global by 74.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 5,906 shares of the cryptocurrency exchange’s stock worth $1,031,000 after purchasing an additional 2,516 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COIN shares. Citizens Jmp lowered their price objective on Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a research note on Friday, April 10th. Sanford C. Bernstein reduced their target price on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Mizuho upped 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. KeyCorp reaffirmed a “sector weight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Finally, Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $250.65.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Coinbase won U.K. authorization to offer equities and derivatives, expanding its platform beyond crypto and supporting its long-term growth strategy. Coinbase Global (COIN) Is Up 11.8% After Winning UK Approval To Trade Stocks And Derivatives
• Positive Sentiment: Coinbase added Wormhole to spot trading, showing continued exchange activity and keeping the company in the spotlight for new listings. Coinbase Adds Wormhole To Spot Trading As Solana Infrastructure Tokens Gain Visibility
• Positive Sentiment: Base, Coinbase’s layer-2 network, is seeing stronger DEX activity and new token-standard rollout, which could support ecosystem growth and trading volume. Base to activate B20 standard for stablecoins, RWAs and other tokens
• Neutral Sentiment: Analysts are previewing Coinbase’s upcoming quarterly earnings and expect strong year-over-year bottom-line growth, but results have not yet been reported. Coinbase Global Earnings Preview: What to Expect
• Negative Sentiment: Broader crypto weakness, including a Bitcoin selloff tied to geopolitical headlines, may be weighing on sentiment for Coinbase as a crypto-linked stock. Trump declares Iran ceasefire over; bitcoin and crypto markets drop
• Negative Sentiment: A Coinbase director sold 10,000 shares under a pre-arranged plan, which can still create a mild headwind for investor sentiment.

Coinbase Global Stock Performance

Shares of COIN stock opened at $159.36 on Thursday. The stock has a market capitalization of $41.98 billion, a PE ratio of 59.91, a PEG ratio of 5.77 and a beta of 3.35. The business’s 50 day simple moving average is $175.05 and its 200 day simple moving average is $190.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The firm’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. As a group, research analysts forecast that Coinbase Global, Inc. will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Paul Grewal sold 1,960 shares of the business’s stock in a transaction 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 $14,991,110.64. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 on Wednesday, July 1st. The shares were sold at an average price of $159.09, for a total transaction of $1,590,900.00. Following the sale, the director directly owned 20,000 shares in the company, valued at $3,181,800. This trade represents a 33.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,647 shares of company stock valued at $7,331,841 over the last quarter. Company insiders own 16.66% of the company’s stock.

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.