DNB Asset Management AS Has $11.26 Million Position in Coinbase Global, Inc. $COIN

DNB Asset Management AS lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 33.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,787 shares of the cryptocurrency exchange’s stock after selling 25,428 shares during the period. DNB Asset Management AS’s holdings in Coinbase Global were worth $11,259,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. REAP Financial Group LLC acquired a new position in shares of Coinbase Global during the 3rd quarter valued at $25,000. Palisade Asset Management LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $29,000. Foster Dykema Cabot & Partners LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $35,000. Cloud Capital Management LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $36,000. Finally, JPL Wealth Management LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In other news, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the sale, the chief financial officer owned 377,201 shares in the company, valued at $75,440,200. This represents a 2.59% decrease in their position. The transaction 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. In the last three months, insiders have sold 29,990 shares of company stock valued at $6,013,920. Corporate insiders own 16.66% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $195.43 on Monday. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a market cap of $51.49 billion, a price-to-earnings ratio of 73.47, a PEG ratio of 7.12 and a beta of 3.38. The company has a fifty day moving average price of $191.39 and a 200-day moving average price of $221.24.

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 the consensus estimate of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s revenue was down 30.5% compared to the same quarter last year. As a group, equities research analysts predict that Coinbase Global, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

COIN has been the subject of a number of recent research reports. Monness Crespi & Hardt restated a “sell” rating and set a $110.00 price target (down from $115.00) on shares of Coinbase Global in a research note on Friday, May 8th. Compass Point decreased their price target on shares of Coinbase Global from $190.00 to $140.00 and set a “sell” rating for the company in a research note on Friday, February 20th. China Renaissance decreased their price target on shares of Coinbase Global from $301.50 to $223.20 and set a “buy” rating for the company in a research note on Monday, February 23rd. Mizuho boosted their price target on shares of Coinbase Global from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Finally, Citigroup decreased their price target on shares of Coinbase Global from $505.00 to $400.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Nineteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued 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.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase benefited earlier in the week from the Senate Banking Committee advancing the CLARITY Act, which could create a more favorable regulatory backdrop for crypto trading and adoption. Coinbase, Robinhood Stocks Lose Momentum After Big Crypto Bill Win
• Positive Sentiment: Rothschild & Co Redburn raised its price target on Coinbase to $263 and kept a buy rating, signaling continued analyst confidence in the stock. Coinbase Global Price Target Raised to $263.00 at Rothschild & Co Redburn
• Neutral Sentiment: Coinbase expanded its role in the Hyperliquid ecosystem by becoming the official USDC treasury deployer, highlighting growing stablecoin and onchain trading activity. Coinbase Expands USDC Push On Hyperliquid As Onchain Trading Liquidity Accelerates
• Negative Sentiment: Crypto stocks are losing momentum after an initial rally faded, with investors pulling back amid macro uncertainty and doubts about sustained upside in digital assets. Why crypto stocks Coinbase, Robinhood, Strategy are sliding today
• Negative Sentiment: Some analysts say COIN still looks expensive after its recent run, with valuation concerns likely limiting near-term upside. COIN Stock Up 29% in 3 Months But Valuation Expensive: How to Play

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.