Global Retirement Partners LLC Has $2.92 Million Stock Holdings in Coinbase Global, Inc. $COIN

Global Retirement Partners LLC raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 30.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,895 shares of the cryptocurrency exchange’s stock after purchasing an additional 2,973 shares during the quarter. Global Retirement Partners LLC’s holdings in Coinbase Global were worth $2,916,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in COIN. Integrated Wealth Concepts LLC increased its stake in Coinbase Global by 24.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after buying an additional 413 shares during the period. Empowered Funds LLC increased its stake in Coinbase Global by 25.8% in the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock valued at $1,478,000 after buying an additional 1,761 shares during the period. Focus Partners Wealth increased its stake in Coinbase Global by 9.9% in the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after buying an additional 467 shares during the period. Sivia Capital Partners LLC acquired a new position in Coinbase Global in the 2nd quarter valued at approximately $285,000. Finally, Cerity Partners LLC increased its stake in Coinbase Global by 8.6% in the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after buying an additional 1,402 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $184.99 on Friday. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The firm’s fifty day simple moving average is $190.49 and its 200 day simple moving average is $216.73. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $48.74 billion, a PE ratio of 69.55, a PEG ratio of 7.05 and a beta of 3.38.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) 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 4.06%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. The business’s quarterly revenue was down 30.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Coinbase Global, Inc. will post 1.75 EPS for the current year.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 10,020 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the transaction, the chief financial officer directly owned 397,171 shares in the company, valued at approximately $79,434,200. This trade represents a 2.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 29,990 shares of company stock valued at $6,013,920. Company insiders own 16.66% of the company’s stock.

Trending Headlines about Coinbase Global

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

• Negative Sentiment: Bitcoin and Ethereum fell, weighing on crypto-related stocks and dragging Coinbase lower alongside other trading platforms like Robinhood. Coinbase and Other Crypto Stocks Are Falling. Several Possible Reasons for the Bad Day.
• Negative Sentiment: Crypto market sentiment has been hurt by Bitcoin slipping into the mid-$70,000s, a negative Coinbase premium, and reports of institutional selling and ETF outflows, all of which point to softer near-term trading volumes for Coinbase. Coinbase premium hits monthly low as institutional selling pressure mounts
• Neutral Sentiment: Coinbase continues to expand its product set, including launching perpetual-style equity index futures in June and supporting new stablecoin infrastructure, which could help diversify revenue over time. Traders Get AI, Defense, and China Perp Futures on Coinbase Starting June 8
• Neutral Sentiment: Management also highlighted AI-driven compliance improvements and faster resolution times, which is supportive for operating efficiency but not enough to offset the crypto selloff today. Coinbase CEO Brian Armstrong Says AI Is Doing ‘Most Of The Heavy Lifting’ In Compliance As Resolution Times Improve By 90%

Analysts Set New Price Targets

Several research firms have weighed in on COIN. Cantor Fitzgerald upped their price objective on shares of Coinbase Global from $221.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Wedbush set a $224.00 price target on shares of Coinbase Global in a research note on Friday, May 8th. Citigroup dropped their price target on shares of Coinbase Global from $505.00 to $400.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Barclays dropped their price target on shares of Coinbase Global from $140.00 to $107.00 and set an “underweight” rating on the stock in a research note on Friday, May 8th. Finally, Needham & Company LLC dropped their price target on shares of Coinbase Global from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Nineteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $252.20.

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.