Evergreen Quality Fund GP Ltd. Has $85.84 Million Stock Holdings in Coinbase Global, Inc. $COIN

Evergreen Quality Fund GP Ltd. decreased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 54.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 379,600 shares of the cryptocurrency exchange’s stock after selling 455,300 shares during the quarter. Coinbase Global comprises approximately 1.7% of Evergreen Quality Fund GP Ltd.’s holdings, making the stock its 15th largest position. Evergreen Quality Fund GP Ltd.’s holdings in Coinbase Global were worth $85,843,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. North Dakota State Investment Board bought a new stake in Coinbase Global in the 4th quarter valued at $1,626,000. Mizuho Markets Cayman LP bought a new position in shares of Coinbase Global during the 4th quarter worth about $33,921,000. Harvest Portfolios Group Inc. raised its position in shares of Coinbase Global by 21.7% during the fourth quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange’s stock valued at $85,159,000 after buying an additional 67,082 shares during the last quarter. Axxcess Wealth Management LLC raised its position in shares of Coinbase Global by 303.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 20,316 shares of the cryptocurrency exchange’s stock valued at $4,594,000 after buying an additional 15,282 shares during the last quarter. Finally, Artisan Partners Limited Partnership bought a new stake in shares of Coinbase Global in the third quarter valued at about $224,663,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several recent research reports. Mizuho lifted their price objective on Coinbase Global from $170.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. BTIG Research reaffirmed a “buy” rating and issued a $280.00 target price on shares of Coinbase Global in a research report on Wednesday. KeyCorp reiterated a “sector weight” rating on shares of Coinbase Global in a research note on Wednesday. Oppenheimer lowered their price target on shares of Coinbase Global from $227.00 to $224.00 in a report on Friday, May 8th. Finally, Bank of America dropped their price objective on shares of Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $250.65.

Coinbase Global Stock Down 2.6%

Shares of COIN opened at $164.91 on Thursday. The business’s 50 day simple moving average is $184.76 and its 200-day simple moving average is $201.96. Coinbase Global, Inc. has a one year low of $139.36 and a one year high of $444.64. The company has a market capitalization of $43.45 billion, a P/E ratio of 62.00, a PEG ratio of 5.98 and a beta of 3.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The business had revenue of $1.41 billion during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

More Coinbase Global News

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

• Positive Sentiment: Analysts at multiple firms reaffirmed bullish ratings on Coinbase, with price targets ranging from $220 to $280, signaling confidence in upside from current levels.
• Positive Sentiment: Jefferies said Coinbase’s expansion into tokenized equities and AI could broaden its addressable market and strengthen its “everything exchange” strategy.
• Positive Sentiment: Coinbase launched AI-powered investing tools, including an AI investment adviser, alongside new trading features such as tokenized stocks, pre-IPO exposure, and portfolio transfers, which may improve user engagement and revenue diversification.
• Positive Sentiment: Coinbase’s move into tokenized U.S. equities, dividend-bearing onchain assets, and expanded stock/ETF trading could help it compete more directly with traditional brokerages and fintech platforms.
• Neutral Sentiment: Coinbase-linked political spending and pro-crypto election results, such as the Alabama Senate runoff win backed by a crypto PAC, suggest improving regulatory and political momentum for the industry. Article Title

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the transaction, the insider owned 517 shares in the company, valued at $97,718.17. The trade was a 92.75% 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. Insiders have sold 30,647 shares of company stock worth $5,740,941 over the last quarter. Corporate insiders own 16.66% of the company’s stock.

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.