Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 2,051 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Coinbase Global Stock Performance
NASDAQ COIN opened at $155.50 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $185.72 and its two-hundred day moving average price is $205.77. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The firm has a market capitalization of $40.97 billion, a P/E ratio of 58.46, a price-to-earnings-growth ratio of 5.16 and a beta of 3.32.
Coinbase Global (NASDAQ:COIN – Get Free Report) last posted 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). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the company posted $0.24 earnings per share. The business’s revenue was down 30.5% compared to the same quarter last year. As a group, research analysts anticipate that Coinbase Global, Inc. will post 1.93 EPS for the current year.
Wall Street Analyst Weigh In
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in COIN. Norges Bank bought a new position in shares of Coinbase Global in the fourth quarter worth about $656,744,000. Vanguard Group Inc. raised its holdings in Coinbase Global by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock valued at $8,847,905,000 after buying an additional 2,007,930 shares during the last quarter. Capital World Investors raised its holdings in Coinbase Global by 847.2% in the 4th quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange’s stock valued at $347,472,000 after buying an additional 1,374,318 shares during the last quarter. Ruffer LLP bought a new position in Coinbase Global in the 4th quarter valued at approximately $166,515,000. Finally, Artisan Partners Limited Partnership bought a new position in Coinbase Global in the 3rd quarter valued at approximately $224,663,000. Institutional investors own 68.84% of the company’s stock.
Key Coinbase Global News
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase executive John D’Agostino said institutional investors, family offices, and sovereign funds are still buying Bitcoin during the selloff, reinforcing the view that long-term crypto demand remains intact and supporting Coinbase’s institutional business. Institutions Don’t Mind Scooping Up Bitcoin At A Discount, Says Top Coinbase Exec
- Positive Sentiment: Coinbase is expanding its product set with a new card tied to stablecoin collateral, which could broaden usage and attract customers who cannot access traditional credit cards. Coinbase Card Lets Credit Insecure Customers Use Crypto as Collateral
- Positive Sentiment: Industry momentum around the U.S. Clarity Act could improve the regulatory backdrop for Coinbase and other major crypto firms if lawmakers advance clearer market rules. Over 200 Crypto Groups Urge Senate Clarity Act Vote
- Neutral Sentiment: Reports that OKX is expanding tokenized stock and commodity perpetuals in Europe add competitive noise, but the direct impact on Coinbase’s near-term earnings is unclear. OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures
- Neutral Sentiment: Short-interest data appears broken or incomplete in the feed, so it does not provide a reliable trading signal for investors.
- Negative Sentiment: Coinbase CAO Jennifer N. Jones sold 2,051 shares in a pre-arranged 10b5-1 plan, which may add to investor caution even though the transaction was routine. Coinbase Global, Inc. CAO Jennifer N. Jones Insider Transaction
- Negative Sentiment: Wall Street commentary remains cautious after Bitcoin’s recent weakness, with some articles saying investors are losing faith in COIN as crypto prices fall and valuation risk stays high. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock
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.
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