Traders Purchase High Volume of Coinbase Global Put Options (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) was the target of some unusual options trading on Thursday. Investors bought 354,875 put options on the stock. This is an increase of 42% compared to the typical volume of 249,706 put options.

Coinbase Global Stock Down 6.5%

NASDAQ:COIN traded down $16.58 during trading hours on Thursday, reaching $239.28. The company’s stock had a trading volume of 12,038,135 shares, compared to its average volume of 7,051,839. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40. The company has a market cap of $64.52 billion, a price-to-earnings ratio of 20.70 and a beta of 3.70. Coinbase Global has a one year low of $142.58 and a one year high of $444.64. The business’s 50-day moving average is $258.13 and its 200-day moving average is $312.36.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a return on equity of 15.70% and a net margin of 41.99%.The business’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Equities research analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase CEO Brian Armstrong is actively lobbying lawmakers to protect crypto rewards and push for a better bill (effort could preserve key revenue streams if successful). Coinbase CEO lobbies lawmakers to protect crypto rewards
• Positive Sentiment: China Renaissance cut its target but kept a “buy” rating, implying continued upside in some analysts’ views despite the near-term noise. China Renaissance adjusts PT on Coinbase
• Neutral Sentiment: Some Senate Banking members remain optimistic the bill can be revised and advanced, signaling the regulatory process is postponed rather than dead — outcome and timing remain uncertain. Senate Banking Committee Lawmakers Optimistic About Crypto Bill Progress
• Neutral Sentiment: Coinbase says a markup could still happen “in a few weeks,” suggesting more debate ahead rather than a final regulatory resolution. Coinbase CEO expects market structure bill markup ‘in a few weeks‘
• Negative Sentiment: Armstrong’s public withdrawal of support for the CLARITY/Digital Asset Market bill triggered the committee to pause its vote; investors view the move as near-term regulatory uncertainty for Coinbase’s core business. Coinbase Stock Falls After Crypto Bill Support Withdrawn
• Negative Sentiment: Large put-option activity: unusually high volume of puts (~354,875 contracts) suggests traders are positioning for further downside or hedging exposure. (Options flow reported intraday.)
• Negative Sentiment: Jefferies trimmed its price target and moved to a “hold” — another sell-side downgrade that pressures sentiment. Jefferies adjusts price target on Coinbase
• Negative Sentiment: Crypto weakness and Q4 headwinds: ARK ETFs and other funds flagged Coinbase as a key detractor amid a crypto pullback, amplifying stock volatility tied to broader market swings. Crypto slump hits ARK ETFs in Q4, Coinbase becomes top detractor

Insider Activity at Coinbase Global

In related news, COO Emilie Choi sold 100,000 shares of Coinbase Global stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $310.88, for a total value of $31,088,000.00. Following the transaction, the chief operating officer owned 187,802 shares of the company’s stock, valued at approximately $58,383,885.76. This trade represents a 34.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frederick Ernest Ehrsam III sold 277,074 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $309.92, for a total transaction of $85,870,774.08. The disclosure for this sale is available in the SEC filing. Insiders sold 808,412 shares of company stock worth $237,645,711 in the last quarter. 16.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

A number of institutional investors have recently modified their holdings of COIN. Evelyn Partners Investment Management Europe Ltd grew its stake in Coinbase Global by 92.3% in the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 75 shares of the cryptocurrency exchange’s stock valued at $29,000 after buying an additional 36 shares during the last quarter. REAP Financial Group LLC bought a new position in shares of Coinbase Global in the third quarter worth about $25,000. Palisade Asset Management LLC bought a new stake in Coinbase Global during the 3rd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. bought a new stake in Coinbase Global during the 2nd quarter valued at approximately $30,000. Finally, Salomon & Ludwin LLC grew its holdings in Coinbase Global by 4,400.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 90 shares of the cryptocurrency exchange’s stock valued at $30,000 after buying an additional 88 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Piper Sandler decreased their price objective on Coinbase Global from $350.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday. Sanford C. Bernstein reissued an “outperform” rating and issued a $440.00 price target on shares of Coinbase Global in a research report on Tuesday, January 6th. Benchmark restated a “buy” rating on shares of Coinbase Global in a report on Friday, October 31st. Citigroup reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Thursday, December 18th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Coinbase Global in a research note on Wednesday, December 17th. They issued a “buy” rating and a $340.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $362.72.

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.