Coinbase Global, Inc. $COIN Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC decreased its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 80.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,158 shares of the cryptocurrency exchange’s stock after selling 4,645 shares during the period. Integrated Advisors Network LLC’s holdings in Coinbase Global were worth $202,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Palisade Asset Management LLC purchased a new stake in Coinbase Global during the 3rd quarter worth about $29,000. MV Capital Management Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $27,000. Osbon Capital Management LLC purchased a new stake in shares of Coinbase Global during the fourth quarter worth about $30,000. JPL Wealth Management LLC acquired a new position in shares of Coinbase Global in the third quarter valued at approximately $49,000. Finally, Brooklands Fund Management Ltd acquired a new position in shares of Coinbase Global in the fourth quarter valued at approximately $34,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $159.09, for a total value of $1,590,900.00. Following the completion of the transaction, the director owned 20,000 shares in the company, valued at approximately $3,181,800. This trade represents a 33.33% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 40,647 shares of company stock worth $7,331,841. Corporate insiders own 16.66% of the company’s stock.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Coinbase gained sympathy buying after Circle received OCC approval to launch a national trust bank, reinforcing a more constructive regulatory backdrop for crypto-related firms. Coinbase Stock Trades Higher After Circle Receives OCC Approval to Open National Trust Bank
• Positive Sentiment: Citizens JMP raised its price target on Coinbase to $325 and kept an outperform rating, which supports the idea that Wall Street still sees significant upside from current levels. Coinbase Global (NASDAQ:COIN) Given New $325.00 Price Target at Citizens Jmp
• Positive Sentiment: Bitcoin strength and reports of a rising “Coinbase Premium” suggested renewed U.S. crypto demand, which can boost Coinbase trading activity and investor expectations for volume-driven revenue. Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant
• Positive Sentiment: Coinbase also received attention for a UK authorization that could help it expand into a broader “everything exchange” offering, a potential long-term growth catalyst. Coinbase UK License Marks Major Step Toward Bringing ‘Everything Exchange’ to Life
• Neutral Sentiment: Analysts and market commentary continued to highlight Coinbase as a high-profile crypto proxy, keeping the stock in focus for traders, but these pieces were more commentary than fresh fundamental news. Is Trending Stock Coinbase Global, Inc. (COIN) a Buy Now?
• Neutral Sentiment: Coinbase’s chief legal officer, Paul Grewal, is stepping down after a successful tenure, but the company said the transition is orderly and succession plans are already in place. Coinbase restores prediction markets trading after technical issue
• Negative Sentiment: Recent analyst updates were mixed, with Barclays cutting its price target to $99 and maintaining an underweight rating, showing that not all analysts are bullish on the stock’s valuation and earnings outlook. Coinbase Global had its price target lowered by Barclays PLC

Coinbase Global Trading Up 0.4%

COIN stock traded up $0.63 on Friday, hitting $159.07. 6,111,167 shares of the company were exchanged, compared to its average volume of 7,137,718. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market capitalization of $41.91 billion, a price-to-earnings ratio of 59.80, a price-to-earnings-growth ratio of 5.58 and a beta of 3.35. Coinbase Global, Inc. has a twelve month low of $139.18 and a twelve month high of $444.64. The business’s fifty day moving average is $173.89 and its two-hundred day moving average is $189.89.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business earned $0.24 EPS. The firm’s revenue for the quarter was down 30.5% compared to the same quarter last year. As a group, research analysts forecast that Coinbase Global, Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Coinbase Global in a research report on Wednesday, June 17th. Monness Crespi & Hardt reiterated a “sell” rating on shares of Coinbase Global in a report on Friday, June 5th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research note on Wednesday, June 17th. Zacks Research upgraded Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Finally, Mizuho lifted their price objective on Coinbase Global from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Coinbase Global presently has a consensus rating of “Hold” and an average target price of $251.79.

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.