ABN AMRO Bank N.V. Invests $1.28 Million in Coinbase Global, Inc. $COIN

ABN AMRO Bank N.V. purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, Holdings Channel reports. The fund purchased 5,600 shares of the cryptocurrency exchange’s stock, valued at approximately $1,282,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its position in shares of Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 413 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after purchasing an additional 1,761 shares during the period. Focus Partners Wealth raised its holdings in shares of Coinbase Global by 9.9% during the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock worth $896,000 after purchasing an additional 467 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Coinbase Global in the 2nd quarter worth about $285,000. Finally, Cerity Partners LLC boosted its holdings in shares of Coinbase Global by 8.6% in the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after buying an additional 1,402 shares during the period. 68.84% of the stock is owned by institutional investors.

More Coinbase Global News

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

• Positive Sentiment: Coinbase backed Centrifuge’s tokenization rollout on Base with a multimillion-dollar investment, signaling continued support for expanding real-world asset activity on its Layer-2 network. Coinbase Backs Centrifuge Tokenization Rollout on Base
• Positive Sentiment: Bitcoin hovering near key levels keeps attention on the broader crypto market, which can lift Coinbase sentiment because trading activity on the platform is closely tied to crypto prices and volumes. Bitcoin Stalls Near $80,000, But These 6 Factors Could Change That Soon
• Neutral Sentiment: Coverage of the CLARITY Act suggests the crypto market structure bill could advance if more Senate Democrats support it, which would be a long-term positive for Coinbase if it improves regulatory clarity. 7 Democrats seen as ‘key’ to advancing CLARITY Act: Galaxy
• Neutral Sentiment: Coinbase, Kraken, and Gemini are pushing back on proposed Senate listing rules, indicating the regulatory debate is still unresolved and could affect exchange operations and token listings. Coinbase, Kraken & Gemini Push Back on Senate Crypto Listing Rules
• Negative Sentiment: Several analysts lowered price targets on Coinbase, including Robert W. Baird, Deutsche Bank, Oppenheimer, and Monness Crespi & Hardt, reflecting caution after recent operating trends. Robert W. Baird Lowers Coinbase Global Price Target to $160.00
• Negative Sentiment: Recent commentary also highlighted Coinbase’s revenue decline and weaker earnings results, which continue to weigh on investor confidence despite the stock’s recent rebound. Coinbase Global Stock Up 7.7%

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COIN. The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $225.00 to $231.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Jefferies Financial Group lifted their target price on Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a research note on Thursday, April 9th. Robert W. Baird lowered their target price on Coinbase Global from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Friday. China Renaissance dropped their price target on Coinbase Global from $301.50 to $223.20 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a report on Wednesday, May 6th. Nineteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $250.04.

Coinbase Global Stock Performance

COIN opened at $216.60 on Tuesday. The business’s 50 day moving average is $190.10 and its 200-day moving average is $225.06. The stock has a market cap of $57.20 billion, a PE ratio of 81.43, a price-to-earnings-growth ratio of 4.54 and a beta of 3.38. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company earned $0.24 earnings per share. The business’s quarterly revenue was down 30.5% compared to the same quarter last year. On average, analysts predict that Coinbase Global, Inc. will post 2.78 earnings per share for the current year.

Insider Activity

In other news, CFO Alesia J. Haas sold 10,020 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the transaction, the chief financial officer owned 397,171 shares of the company’s stock, valued at approximately $79,434,200. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 29,990 shares of company stock valued at $6,013,920 over the last ninety days. Corporate insiders own 16.66% of the company’s stock.

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.