Coinbase Global (NASDAQ:COIN) CAO Sells $324,365.65 in Stock

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 2,051 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Trading Up 4.2%

Shares of COIN opened at $160.43 on Friday. 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 firm has a market capitalization of $42.27 billion, a P/E ratio of 60.31, a price-to-earnings-growth ratio of 4.90 and a beta of 3.32. The stock’s fifty day simple moving average is $185.30 and its 200 day simple moving average is $204.61. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company’s quarterly revenue was down 30.5% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share. On average, equities research analysts forecast that Coinbase Global, Inc. will post 1.93 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 launched “Coinbase for Agents,” enabling AI assistants to trade crypto and make payments, opening a new potential growth channel for trading and payments activity. Coinbase launches tool to let AI agents manage trading and payments
• Positive Sentiment: MassPay and Coinbase announced a stablecoin payout partnership, which could expand institutional and cross-border payment volume on Coinbase’s rails. MassPay and Coinbase Partner to Bring Stablecoin-Powered Payouts to Businesses Worldwide
• Positive Sentiment: Bernstein said Coinbase could benefit from a World Cup-driven surge in prediction-market activity, pointing to potential user and volume growth. Coinbase eyes World Cup boost as prediction markets surge: Bernstein
• Neutral Sentiment: Coverage of Coinbase CEO Brian Armstrong discussing perpetual approval adds context around crypto market structure, but it is not a clear immediate earnings driver. Coinbase CEO Armstrong Talks About Perpetual Approval: What Comes Next?
• Negative Sentiment: Coinbase CAO Jennifer N. Jones sold shares in a pre-arranged 10b5-1 transaction, which may add a bit of caution even though it was routine. Coinbase Global, Inc. CAO Jennifer N. Jones Insider Transaction
• Negative Sentiment: Some market commentary remains wary as Bitcoin weakness continues to pressure Coinbase sentiment because the stock is highly tied to crypto trading activity and overall digital-asset prices. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock

Analyst Ratings Changes

Several brokerages recently weighed in on COIN. Monness Crespi & Hardt reaffirmed a “sell” rating on shares of Coinbase Global in a research report on Friday, June 5th. Needham & Company LLC lowered their price target on Coinbase Global from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 8th. Oppenheimer lowered their price target on Coinbase Global from $227.00 to $224.00 in a report on Friday, May 8th. UBS Group set a $264.00 price target on Coinbase Global in a report on Friday, February 13th. Finally, Wedbush set a $224.00 price target on Coinbase Global in a report on Friday, May 8th. Eighteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $250.23.

Institutional Trading of Coinbase Global

Several large investors have recently modified their holdings of COIN. Integrated Wealth Concepts LLC grew its stake in shares of Coinbase Global by 24.2% during the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 413 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after acquiring an additional 1,761 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Coinbase Global by 9.9% during the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after acquiring an additional 467 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Coinbase Global during the second quarter valued at about $285,000. Finally, Cerity Partners LLC grew its stake in shares of Coinbase Global by 8.6% during the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after acquiring an additional 1,402 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Coinbase Global Company 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.