Coinbase Global, Inc. $COIN Shares Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 37.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,467 shares of the cryptocurrency exchange’s stock after acquiring an additional 11,020 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Coinbase Global were worth $7,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of COIN. MV Capital Management Inc. purchased a new position in Coinbase Global in the 4th quarter valued at approximately $27,000. Palisade Asset Management LLC purchased a new stake in Coinbase Global during the third quarter worth $29,000. Osbon Capital Management LLC purchased a new stake in Coinbase Global during the fourth quarter worth $30,000. Archer Investment Corp grew its holdings in Coinbase Global by 546.4% in the first quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock valued at $32,000 after purchasing an additional 153 shares during the last quarter. Finally, Brooklands Fund Management Ltd acquired a new stake in Coinbase Global in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COIN. JPMorgan Chase & Co. lifted their price target on Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Oppenheimer lowered their price objective on shares of Coinbase Global from $224.00 to $209.00 and set an “outperform” rating on the stock in a research note on Thursday, July 16th. The Goldman Sachs Group raised their target price on shares of Coinbase Global from $226.00 to $228.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Jefferies Financial Group lifted their target price on shares of Coinbase Global from $151.00 to $181.00 and gave the stock a “hold” rating in a research report on Thursday, April 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $270.00 price target on shares of Coinbase Global in a report on Wednesday, June 17th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $245.39.

Insider Activity

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total value of $1,250,490.16. Following the completion of the transaction, the insider directly owned 517 shares in the company, valued at approximately $97,718.17. The trade was a 92.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 30,627 shares of company stock valued at $5,327,841 over the last quarter. Insiders own 16.66% of the company’s stock.

Coinbase Global Trading Up 9.6%

Shares of COIN stock opened at $175.85 on Wednesday. The firm has a 50-day moving average price of $168.65 and a 200 day moving average price of $185.89. Coinbase Global, Inc. has a twelve month low of $139.18 and a twelve month high of $420.98. The company has a market capitalization of $46.33 billion, a price-to-earnings ratio of 66.11, a PEG ratio of 10.35 and a beta of 3.35. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last released its quarterly 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). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.Coinbase Global’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 earnings per share. Research analysts forecast that Coinbase Global, Inc. will post 1.41 earnings per share for the current fiscal year.

More Coinbase Global News

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

• Positive Sentiment: Reports say lawmakers and the White House are moving toward an agreement on a crypto ethics provision, removing a key hurdle for the CLARITY Act and boosting sentiment for Coinbase and other crypto stocks. Coinbase Stock Is Rallying. Can Donald Trump’s Ethics Compromise Save the Clarity Act?
• Positive Sentiment: Scott Bessent said the legislation is at the “1-yard line,” adding to expectations that Congress may soon advance the bill and support a friendlier regulatory backdrop for Coinbase. Crypto market breakout could accelerate as AI trade cools, analyst says
• Positive Sentiment: Bitcoin’s move higher and a broader rebound in crypto-related stocks are lifting Coinbase, since its trading business tends to benefit when crypto prices and investor activity rise. Time for a crypto comeback? Traders bet that this stock will lead the way
• Positive Sentiment: Coinbase-backed Base is reportedly close to launching tokenized equities, a potential product expansion that could strengthen the company’s long-term platform story. Base’s 1:1-backed tokenized equities launch ‘imminent,’ Pollak says
• Neutral Sentiment: Some commentary suggests crypto may be nearing a bottom, which could help sentiment, but it is still only a broad market thesis rather than a company-specific catalyst. This Top Investment Firm Says the Crypto Market Is Nearing a Bottom. Here’s What It Could Mean for Coinbase.
• Neutral Sentiment: CEO Brian Armstrong’s comments on inflation, Bitcoin mining, and meme-coin trading are mostly market commentary and brand visibility items, with limited direct near-term impact on Coinbase fundamentals. Coinbase CEO Brian Armstrong: Hash Power Doesn’t Determine Bitcoin’s Price
• Negative Sentiment: Prediction markets suggest Coinbase’s second-quarter trading volume could come in below some expectations, which would be a headwind if activity remains soft when earnings are reported. Coinbase trading results may fall short of expectations, according to prediction markets

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.