Coinbase Global (NASDAQ:COIN) Reaches New 12-Month Low – Should You Sell?

Coinbase Global, Inc. (NASDAQ:COIN)’s share price hit a new 52-week low on Friday . The stock traded as low as $139.18 and last traded at $146.8430, with a volume of 1069113 shares changing hands. The stock had previously closed at $142.52.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: ARK Invest bought Coinbase shares during Thursday’s market pullback, signaling that a major crypto-focused investor sees value at lower prices. ARK Invest Doubles Down on Coinbase (COIN), Circle, and Robinhood (HOOD) During Market Pullback
• Positive Sentiment: Coinbase continued expanding its regulatory footprint by opening a Luxembourg MiCA hub for the EU, which could strengthen its European growth prospects. Coinbase Opens Luxembourg MiCA Hub as Binance Races EU Deadline
• Positive Sentiment: Several crypto-backed candidates won U.S. primaries, reinforcing Coinbase’s lobbying influence and the industry’s political momentum ahead of future crypto regulation debates. Crypto-backed candidates notch wins in three US state primaries
• Neutral Sentiment: Coinbase’s Base blockchain briefly went offline for about two hours due to a consensus problem, but block production resumed and the network recovered, limiting the long-term financial impact so far. Coinbase’s Base resumes block production after 2-hour outage
• Neutral Sentiment: Coinbase CEO Brian Armstrong said the company remains open to more acquisitions after the $2.9 billion Deribit deal closed, which could support future growth but also adds execution risk. Coinbase Open To More Acquisitions After $2.9B Deribit Deal Closes, CEO Says
• Negative Sentiment: Crypto markets weakened sharply, with Ether hitting a yearly low and Bitcoin falling below $60,000, which tends to weigh on Coinbase because trading activity and investor sentiment usually move with digital asset prices. Tether stablecoin flips Ether by market cap as ETH routs to $1.5K
• Negative Sentiment: A separate report said Coinbase’s Base network stall was caused by an invalid block freezing the sequencer, highlighting operational reliability concerns even though service was restored. Base Network Stalls After Invalid Block Freezes Sequencer

Analyst Ratings Changes

Several research analysts have recently issued reports on COIN shares. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Coinbase Global in a research note on Wednesday, June 17th. JPMorgan Chase & Co. lifted their price objective on shares of Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Compass Point reaffirmed a “sell” rating on shares of Coinbase Global in a report on Monday, June 1st. Robert W. Baird decreased their target price on shares of Coinbase Global from $160.00 to $142.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $208.00 target price on shares of Coinbase Global in a research note on Wednesday, June 17th. 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 stock. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and an average price target of $250.65.

Coinbase Global Trading Up 2.4%

The business has a 50 day simple moving average of $182.68 and a 200-day simple moving average of $197.20. 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 stock has a market capitalization of $38.46 billion, a P/E ratio of 54.70, a price-to-earnings-growth ratio of 5.30 and a beta of 3.32.

Coinbase Global (NASDAQ:COIN) last issued 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 net margin of 12.20% and a return on equity of 4.16%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was down 30.5% compared to the same quarter last year. On average, analysts predict that Coinbase Global, Inc. will post 1.74 EPS for the current year.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the sale, the chief financial officer directly owned 377,201 shares of the company’s stock, valued at approximately $75,440,200. This represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were 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 of the company’s stock, valued at approximately $97,718.17. This trade represents a 92.75% decrease in their position. 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 three months, insiders have sold 30,647 shares of company stock valued at $5,740,941. Corporate insiders own 16.66% of the company’s stock.

Institutional Trading of Coinbase Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Palisade Asset Management LLC bought a new stake in Coinbase Global during the third quarter worth approximately $29,000. Foster Dykema Cabot & Partners LLC bought a new position in shares of Coinbase Global in the third quarter valued at $35,000. MV Capital Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter valued at $27,000. Osbon Capital Management LLC acquired a new stake in shares of Coinbase Global during the 4th quarter valued at $30,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at $49,000. 68.84% of the stock is owned by institutional investors and hedge funds.

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.