7,192 Shares in Coinbase Global, Inc. $COIN Bought by North Dakota State Investment Board

North Dakota State Investment Board purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,192 shares of the cryptocurrency exchange’s stock, valued at approximately $1,626,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Coinbase Global by 8.3% during the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock worth $8,847,905,000 after buying an additional 2,007,930 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Coinbase Global during the third quarter worth $14,491,000. Artisan Partners Limited Partnership purchased a new position in Coinbase Global during the third quarter worth $224,663,000. Harvest Portfolios Group Inc. increased its position in Coinbase Global by 42.5% during the third quarter. Harvest Portfolios Group Inc. now owns 309,496 shares of the cryptocurrency exchange’s stock worth $104,452,000 after buying an additional 92,292 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in Coinbase Global by 9.9% during the third quarter. Rafferty Asset Management LLC now owns 77,917 shares of the cryptocurrency exchange’s stock worth $26,296,000 after buying an additional 7,017 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

COIN has been the subject of several recent research reports. HC Wainwright dropped their price target on Coinbase Global from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Citizens Jmp dropped their price target on Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a research report on Friday, April 10th. Wedbush set a $224.00 price target on Coinbase Global in a research report on Friday, May 8th. Zacks Research raised Coinbase Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Rothschild & Co Redburn lifted their price objective on Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Nineteen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average target price of $252.20.

Coinbase Global Price Performance

Shares of NASDAQ:COIN opened at $193.45 on Wednesday. The company has a market cap of $50.97 billion, a P/E ratio of 72.73, a P/E/G ratio of 6.90 and a beta of 3.38. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64. The business has a fifty day simple moving average of $190.99 and a 200-day simple moving average of $218.98.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The business had revenue of $1.41 billion during 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 4.06%. Coinbase Global’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. Equities research analysts forecast that Coinbase Global, Inc. will post 1.75 EPS for the current year.

Key Coinbase Global News

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

• Positive Sentiment: Investors are still focused on Coinbase as a potential beneficiary of crypto market structure reform, including the CLARITY Act and SEC moves that could expand tokenized stock trading and boost regulated crypto venues. Coinbase’s compliance-heavy model and derivatives business were highlighted as possible long-term strengths. Article Title
• Positive Sentiment: Coinbase also announced it will participate in the J.P. Morgan Global Technology, Media and Communications Conference, which can keep investor attention on management’s outlook and strategy. Article Title
• Neutral Sentiment: Broader crypto-related sentiment remains mixed: Bitcoin weakness has weighed on crypto-linked stocks, while some investors are rotating toward crypto companies with different business models and revenue exposure. Article Title
• Negative Sentiment: Sen. Elizabeth Warren criticized the OCC for allegedly allowing Coinbase and other crypto firms to operate with bank-like charters without proper safeguards, renewing regulatory overhang around Coinbase’s business model. Article Title
• Negative Sentiment: Warren also sent a formal letter accusing the OCC of illegally granting national trust charters to Coinbase and other crypto firms, asking for records by June 1, which could increase scrutiny and headline risk. Article Title

Insider Buying and Selling

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the sale, the chief financial officer directly owned 377,201 shares in the company, valued at $75,440,200. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,990 shares of company stock worth $6,013,920 in the last ninety days. Corporate 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.