Coinbase Global, Inc. $COIN Shares Sold by KBC Group NV

KBC Group NV cut its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 54.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,300 shares of the cryptocurrency exchange’s stock after selling 70,976 shares during the period. KBC Group NV’s holdings in Coinbase Global were worth $10,529,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Coinbase Global during the fourth quarter worth approximately $656,744,000. Capital World Investors grew its stake in shares of Coinbase Global by 847.2% during 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 period. Ruffer LLP purchased a new position in shares of Coinbase Global in the 4th quarter worth $166,515,000. Janus Henderson Group PLC raised its position in shares of Coinbase Global by 2,597.8% in the 4th quarter. Janus Henderson Group PLC now owns 549,304 shares of the cryptocurrency exchange’s stock worth $124,221,000 after buying an additional 528,943 shares during the period. Finally, Cria Inc. acquired a new position in Coinbase Global in the fourth quarter valued at $111,184,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase is benefiting from renewed optimism around U.S. crypto legislation, with the CLARITY Act reportedly close to a Senate floor vote. CEO Brian Armstrong said the bill is ready for full Senate consideration, and advocacy group Stand With Crypto said supporters made 950,000 contacts with lawmakers, reinforcing hopes for clearer digital-asset rules. Article: 950K Contacts Back CLARITY Act as Coinbase CEO Says Bill Is Ready for Full Senate Vote
• Positive Sentiment: The SEC agreed to pay $150,000 to settle Coinbase’s FOIA lawsuit over lost agency messages, which is a symbolic legal win and supports Coinbase’s broader criticism of the regulator. Article: US SEC settles FOIA lawsuit with Coinbase over lost messages, WSJ op-ed says
• Positive Sentiment: Coinbase is also expanding its product vision, including tokenized equities and an “Everything Exchange” push in Canada, which could support long-term growth if regulators approve the rollout. Article: Coinbase Wants to Be Canada’s One-Stop Shop for Stocks, Crypto and Prediction Markets
• Neutral Sentiment: Coinbase is being discussed more heavily by investors and media, but some of the coverage is commentary or interview-based rather than a direct business catalyst. Article: Coinbase’s John D’Agostino on why tokenized equities could transform investing
• Negative Sentiment: Raymond James initiated coverage with a “Market Perform” rating, citing valuation concerns and limited upside. That lukewarm view weighed on Coinbase shares and likely contributed to today’s weakness. Article: Coinbase Settles Records Lawsuit With the SEC: $150,000 and a Retention Overhaul
• Negative Sentiment: Investors are also focusing on leadership turnover, after Coinbase’s chief legal officer said he will step down at the end of July, adding another layer of uncertainty. Article: Coinbase Global (COIN) Faces A Legal Shake Up, Is It Still A Bargain?

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 2,051 shares of the business’s stock in a transaction dated 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 document filed 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 Paul Grewal sold 1,960 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 84,753 shares in the company, valued at $14,991,110.64. The trade was a 2.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 30,627 shares of company stock worth $5,327,841. Company insiders own 16.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on COIN shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $208.00 price target on shares of Coinbase Global in a research note on Wednesday, June 17th. Citizens Jmp dropped their target price on shares of Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Bank of America cut their price target on shares of Coinbase Global from $288.00 to $234.00 in a report on Thursday, April 2nd. Raymond James Financial initiated coverage on shares of Coinbase Global in a research note on Wednesday. They set a “market perform” rating for the company. Finally, Sanford C. Bernstein cut their target price on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Eighteen investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $245.39.

Coinbase Global Trading Down 5.5%

NASDAQ:COIN opened at $166.12 on Thursday. 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, Inc. has a one year low of $139.18 and a one year high of $405.31. The business’s 50-day simple moving average is $167.94 and its 200 day simple moving average is $185.46. The stock has a market cap of $43.77 billion, a price-to-earnings ratio of 62.45, a price-to-earnings-growth ratio of 11.34 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) 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 business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the company posted $0.24 earnings per share. The business’s quarterly revenue was down 30.5% compared to the same quarter last year. As a group, sell-side analysts predict 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.