DJE Kapital AG Sells 57,251 Shares of Coinbase Global, Inc. $COIN

DJE Kapital AG cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 43.7% during the first quarter, Holdings Channel reports. The firm owned 73,688 shares of the cryptocurrency exchange’s stock after selling 57,251 shares during the quarter. DJE Kapital AG’s holdings in Coinbase Global were worth $12,159,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction on Monday, June 1st. The shares were sold at an average price of $181.54, for a total value of $1,815,400.00. Following the completion of the transaction, the director directly owned 30,000 shares of the company’s stock, valued at $5,446,200. This trade represents a 25.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the sale, the insider owned 84,753 shares in the company, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 30,627 shares of company stock valued at $5,327,841. Corporate insiders own 16.66% of the company’s stock.

Coinbase Global Stock Up 2.1%

NASDAQ COIN opened at $160.43 on Tuesday. The stock has a 50 day moving average price of $169.28 and a 200-day moving average price of $186.24. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $436.38. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market capitalization of $42.27 billion, a P/E ratio of 60.31, a P/E/G ratio of 10.14 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last announced its quarterly 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 business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. As a group, equities analysts predict that Coinbase Global, Inc. will post 1.41 EPS for the current fiscal year.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase vice chair Ryan VanGrack said Senate negotiators added stronger consumer protections to the CLARITY Act, which could improve the odds of crypto market-structure legislation passing and create a more favorable regulatory backdrop for Coinbase. Article: Democrats added certain consumer protection rules to CLARITY: Coinbase exec
• Positive Sentiment: Multiple headlines featured Coinbase CEO Brian Armstrong defending Bitcoin’s long-term durability and dismissing concerns about miners shifting energy use to AI, which can reinforce Coinbase’s image as a leading crypto industry voice. Article: Coinbase CEO Brian Armstrong: Hash Power Doesn’t Determine Bitcoin’s Price
• Neutral Sentiment: Armstrong also said Bitcoin is likely to remain a long-term gauge of inflation fears and commented that stablecoins, not Bitcoin, have best fulfilled Satoshi’s payments vision; this keeps Coinbase in the center of the crypto narrative but is not a direct business catalyst. Article: Coinbase CEO Brian Armstrong Says Bitcoin Will ‘Mostly’ Be a Measure of Inflation Fears in the Long Term
• Neutral Sentiment: Coinbase shares also got a routine lift from broad market movement, with recent coverage noting the stock outperformed a down market session. Article: Coinbase Global, Inc. (COIN) Ascends While Market Falls: Some Facts to Note
• Negative Sentiment: Prediction markets suggested Coinbase’s second-quarter trading volume may come in below analyst expectations, renewing concern that weaker crypto activity could pressure transaction revenue. Article: Coinbase trading results may fall short of expectations, according to prediction markets
• Negative Sentiment: Another piece argued Coinbase’s Base strategy showed the company may be building for an older crypto cycle, hinting at product and strategic execution risks. Article: Coinbase’s big Base mistake offers an important lesson for the crypto industry

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Coinbase Global in a research note on Thursday, July 9th. Mizuho boosted their price target on shares of Coinbase Global from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Zacks Research raised shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Sanford C. Bernstein dropped their price objective on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating for the company in a report on Monday, March 30th. Finally, JPMorgan Chase & Co. raised their price objective on Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $245.39.

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.