Keebeck Wealth Management Reduces Holdings in Coinbase Global, Inc. $COIN

Keebeck Wealth Management lowered its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 93.2% in the first quarter, HoldingsChannel.com reports. The fund owned 1,330 shares of the cryptocurrency exchange’s stock after selling 18,352 shares during the quarter. Keebeck Wealth Management’s holdings in Coinbase Global were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Palisade Asset Management LLC acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $29,000. MV Capital Management Inc. purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $27,000. Osbon Capital Management LLC acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $30,000. JPL Wealth Management LLC acquired a new position in shares of Coinbase Global during the 3rd quarter worth approximately $49,000. Finally, Brooklands Fund Management Ltd acquired a new position in shares of Coinbase Global during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction on 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 sale, the director owned 20,000 shares of the company’s stock, valued at $3,181,800. The trade was a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total value of $1,250,490.16. Following the completion of the sale, the insider directly owned 517 shares of the company’s stock, valued at approximately $97,718.17. This represents a 92.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,627 shares of company stock worth $5,327,841 over the last ninety days. Company insiders own 16.66% of the company’s stock.

More Coinbase Global News

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

• Positive Sentiment: Coinbase unveiled new AI-agent payment infrastructure for business accounts, including support for USDC payments, automated trading tools, and a developer SDK. That reinforces the company’s push into stablecoin and AI-enabled payments, which could open new revenue streams. Coinbase Unveils AI Agent Payment Infrastructure for Business Accounts
• Positive Sentiment: Coinbase is expanding in Singapore, with plans to grow headcount and deepen its institutional and engineering presence in the region. Investors may view the move as evidence of international growth beyond the U.S. market. Coinbase to expand Singapore office headcount by 25%: report
• Positive Sentiment: Coinbase also participated in the launch of the Bitcoin Security Consortium alongside firms like BlackRock and Block, which may be seen as a credibility boost for the company’s role in crypto infrastructure. BlackRock, Coinbase, Strategy Among Nine Firms Launching the Bitcoin Security Consortium
• Neutral Sentiment: Raymond James began coverage on Coinbase Global, adding another analyst voice to the name, but the article provided no new rating or thesis details. Raymond James Financial Begins Coverage on Coinbase Global (NASDAQ:COIN)
• Neutral Sentiment: Some commentary suggests Coinbase could benefit even if the CLARITY Act stalls, since clearer crypto rules and broader market adoption still support the platform’s long-term business case. How Coinbase stock could win even if the Clarity Act loses
• Negative Sentiment: Near-term investor sentiment is being weighed down by uncertainty around U.S. crypto legislation, with reports saying the Senate CLARITY Act faces political roadblocks and analysts have cut price targets ahead of earnings. That likely explains some of the weakness in Coinbase Global (COIN) shares today. Coinbase (COIN) Stock Drops 3% Amid Senate Crypto Bill Uncertainty
• Negative Sentiment: Citi lowered its price target on Coinbase from $400 to $235, echoing earlier cuts from JPMorgan. Even with a bullish rating, the reduced valuation can pressure sentiment ahead of the company’s upcoming earnings report. Analyst cuts Coinbase price target 40% ahead of Q2 earnings
• Negative Sentiment: Coinbase disclosed a 50-minute outage caused by a configuration error that disrupted transfers, debit card purchases, and onchain services. Operational hiccups like this can hurt confidence in the platform’s reliability. Coinbase Reveals How One Configuration Error Triggered a 50-Minute Outage

Coinbase Global Stock Down 1.8%

Shares of NASDAQ COIN opened at $158.29 on Friday. Coinbase Global, Inc. has a 1 year low of $139.18 and a 1 year high of $402.16. The firm’s 50 day moving average price is $166.18 and its 200 day moving average price is $184.75. The firm has a market cap of $41.70 billion, a P/E ratio of 59.51, a price-to-earnings-growth ratio of 10.19 and a beta of 3.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS 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 firm’s revenue was down 30.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 1.42 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wedbush set a $224.00 price target on Coinbase Global in a report on Friday, May 8th. Compass Point reissued a “sell” rating on shares of Coinbase Global in a report on Monday, June 1st. Mizuho upped 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $208.00 price objective on shares of Coinbase Global in a research note on Wednesday, June 17th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $239.14.

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.