Mediolanum International Funds Ltd Has $5.92 Million Holdings in Coinbase Global, Inc. $COIN

Mediolanum International Funds Ltd grew its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 1,516.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,816 shares of the cryptocurrency exchange’s stock after acquiring an additional 34,539 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Coinbase Global were worth $5,920,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Palisade Asset Management LLC bought a new stake in Coinbase Global in the 3rd quarter valued at approximately $29,000. MV Capital Management Inc. acquired a new position in Coinbase Global during the 4th quarter worth approximately $27,000. Osbon Capital Management LLC bought a new position in shares of Coinbase Global during the 4th quarter worth approximately $30,000. JPL Wealth Management LLC bought a new position in shares of Coinbase Global during the 3rd quarter worth approximately $49,000. Finally, Brooklands Fund Management Ltd acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling

In other news, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction dated 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 of the company’s stock, valued at approximately $97,718.17. This trade represents a 92.75% decrease in their position. The transaction 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, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $181.54, for a total value of $1,815,400.00. Following the completion of the sale, the director owned 30,000 shares of the company’s stock, valued at approximately $5,446,200. The trade was a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,627 shares of company stock valued at $5,327,841 over the last three months. 16.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on COIN shares. President Capital boosted their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Jefferies Financial Group raised their target price on shares of Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a research report on Thursday, April 9th. Rothschild & Co Redburn boosted their price target on shares of Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Monness Crespi & Hardt reiterated a “sell” rating on shares of Coinbase Global in a research note on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $208.00 target price on shares of Coinbase Global in a report on Wednesday, June 17th. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $245.39.

More Coinbase Global News

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

• Positive Sentiment: Coinbase vice chair Ryan VanGrack said Senate negotiators added stronger consumer protections to the CLARITY Act, which could improve the odds of crypto market-structure legislation passing and create a more favorable regulatory backdrop for Coinbase. Article: Democrats added certain consumer protection rules to CLARITY: Coinbase exec
• Positive Sentiment: Multiple headlines featured Coinbase CEO Brian Armstrong defending Bitcoin’s long-term durability and dismissing concerns about miners shifting energy use to AI, which can reinforce Coinbase’s image as a leading crypto industry voice. Article: Coinbase CEO Brian Armstrong: Hash Power Doesn’t Determine Bitcoin’s Price
• Neutral Sentiment: Armstrong also said Bitcoin is likely to remain a long-term gauge of inflation fears and commented that stablecoins, not Bitcoin, have best fulfilled Satoshi’s payments vision; this keeps Coinbase in the center of the crypto narrative but is not a direct business catalyst. Article: Coinbase CEO Brian Armstrong Says Bitcoin Will ‘Mostly’ Be a Measure of Inflation Fears in the Long Term
• Neutral Sentiment: Coinbase shares also got a routine lift from broad market movement, with recent coverage noting the stock outperformed a down market session. Article: Coinbase Global, Inc. (COIN) Ascends While Market Falls: Some Facts to Note
• Negative Sentiment: Prediction markets suggested Coinbase’s second-quarter trading volume may come in below analyst expectations, renewing concern that weaker crypto activity could pressure transaction revenue. Article: Coinbase trading results may fall short of expectations, according to prediction markets
• Negative Sentiment: Another piece argued Coinbase’s Base strategy showed the company may be building for an older crypto cycle, hinting at product and strategic execution risks. Article: Coinbase’s big Base mistake offers an important lesson for the crypto industry

Coinbase Global Stock Up 2.1%

NASDAQ COIN opened at $160.43 on Tuesday. The company has a market cap of $42.27 billion, a price-to-earnings ratio of 60.31, a PEG ratio of 10.14 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. The company has a 50 day moving average of $169.28 and a 200-day moving average of $186.24. Coinbase Global, Inc. has a 1-year low of $139.18 and a 1-year high of $436.38.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share 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 the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company’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 company earned $0.24 EPS. On average, equities research analysts expect that Coinbase Global, Inc. will post 1.41 earnings per share for the current fiscal year.

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.