Janney Montgomery Scott LLC Boosts Stake in Coinbase Global, Inc. $COIN

Janney Montgomery Scott LLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 84.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,090 shares of the cryptocurrency exchange’s stock after purchasing an additional 95,943 shares during the quarter. Janney Montgomery Scott LLC owned about 0.08% of Coinbase Global worth $36,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling at Coinbase Global

In other news, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value of $346,684.80. Following the completion of the transaction, the insider owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. This trade represents a 2.26% 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. In the last ninety days, insiders have sold 30,647 shares of company stock valued at $5,740,941. Insiders own 16.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on COIN. Compass Point restated a “sell” rating on shares of Coinbase Global in a research report on Monday, June 1st. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Coinbase Global in a research report on Wednesday, June 17th. President Capital lifted their price objective on Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Monness Crespi & Hardt restated a “sell” rating on shares of Coinbase Global in a report on Friday, June 5th. Finally, Citizens Jmp reduced their price objective on shares of Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating on the stock in a report on Friday, April 10th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $250.65.

Coinbase Global Stock Performance

Shares of COIN stock opened at $149.06 on Monday. Coinbase Global, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $444.64. The company has a 50 day moving average price of $181.75 and a 200 day moving average price of $196.32. The stock has a market capitalization of $39.27 billion, a P/E ratio of 56.04, a price-to-earnings-growth ratio of 5.26 and a beta of 3.32. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $0.24 earnings per share. Coinbase Global’s quarterly revenue was down 30.5% compared to the same quarter last year. Equities research analysts predict that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase secured a MiCA license in Luxembourg, giving it access to offer regulated crypto services across all 27 EU member states. That expands its international growth opportunity and signals progress on regulatory compliance. Coinbase (COIN) Secures MiCA License And Opens Luxembourg Hub For 27 EU States
• Positive Sentiment: ARK Invest reportedly bought more Coinbase shares during the recent pullback, a sign that a high-profile investor sees value at lower prices. ARK Invest Doubles Down on Coinbase (COIN), Circle, and Robinhood (HOOD) During Market Pullback
• Neutral Sentiment: Coinbase’s Base blockchain recovered after a roughly two-hour outage caused by a consensus issue and invalid block. The incident was temporary, but it may keep attention on operational reliability for Coinbase’s ecosystem. Coinbase’s Base resumes block production after 2-hour outage
• Negative Sentiment: The Base outage itself highlights execution risk in Coinbase’s layer-2 network and could weigh on sentiment if investors worry about infrastructure stability. Base Network Stalls After Invalid Block Freezes Sequencer
• Negative Sentiment: Broader crypto weakness is also a headwind: Ether plunged sharply, and articles noted a wider selloff across major tech and crypto-related names. Since Coinbase is highly tied to crypto trading volumes and market sentiment, weaker crypto prices can pressure the stock. Tether stablecoin flips Ether by market cap as ETH routs to $1.5K

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.