Coinbase Global, Inc. $COIN Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 86.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,391 shares of the cryptocurrency exchange’s stock after selling 40,192 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Coinbase Global were worth $1,116,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. MV Capital Management Inc. purchased a new position in shares of Coinbase Global in the 4th quarter valued at $27,000. Palisade Asset Management LLC acquired a new position in Coinbase Global in the third quarter valued at $29,000. Osbon Capital Management LLC purchased a new position in shares of Coinbase Global during the fourth quarter worth about $30,000. Brooklands Fund Management Ltd purchased a new position in shares of Coinbase Global during the fourth quarter worth about $34,000. Finally, Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Coinbase Global during the third quarter worth about $35,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In related news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction on 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 transaction, the chief financial officer directly owned 377,201 shares in the company, valued at $75,440,200. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the completion of the transaction, the director directly owned 30,000 shares in the company, valued at $5,446,200. This represents 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. Over the last quarter, insiders sold 30,647 shares of company stock valued at $5,740,941. 16.66% of the stock is currently owned by company insiders.

Coinbase Global Stock Down 5.1%

COIN opened at $150.10 on Thursday. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64. The business has a 50 day moving average price of $183.52 and a two-hundred day moving average price of $198.09. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. The company has a market cap of $39.55 billion, a PE ratio of 56.43, a P/E/G ratio of 5.59 and a beta of 3.32.

Coinbase Global (NASDAQ:COIN) last announced its earnings results 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). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. As a group, research analysts anticipate that Coinbase Global, Inc. will post 1.74 EPS for the current year.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Coinbase’s launch of pre-IPO perpetual futures tied to private AI names like OpenAI and Anthropic is seen as a potentially high-margin expansion beyond spot crypto trading. Coinbase Is Offering Pre-IPO Perpetual Futures on OpenAI and Anthropic. That’s Better News for COIN Stock Than It Is for You.
• Positive Sentiment: Analyst commentary is highlighting significant upside if crypto markets recover, with some models suggesting COIN could rebound sharply from current levels. Coinbase Could Jump 65% as Crypto Recovery Unfolds
• Neutral Sentiment: Coinbase-backed political efforts are benefiting from crypto-friendly primary wins, which may improve the regulatory backdrop over time, but the effect on near-term earnings is uncertain. Crypto-backed candidates notch wins in three US state primaries
• Neutral Sentiment: Investors are watching the upcoming CLARITY Act hearing on July 17, which could reshape U.S. crypto regulation and potentially benefit Coinbase if clearer rules emerge. Dear Coinbase Stock Fans, Mark Your Calendars for July 17
• Negative Sentiment: Bitcoin’s 30% drop from recent highs is weighing on Coinbase because the stock is closely tied to crypto trading volumes and market sentiment. Coinbase vs. Strategy: Which Bitcoin-Related Stock Is Worth the Risk?
• Negative Sentiment: Recent coverage also points to persistent weakness after Coinbase’s latest earnings and the market’s concern that lower crypto prices could continue to pressure transaction revenue. Here’s Why Coinbase Global, Inc. (COIN) Fell More Than Broader Market

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COIN. President Capital boosted their target price on Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. B. Riley Financial cut their price target on Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a research report on Monday, June 1st. Oppenheimer reduced their price objective on Coinbase Global from $227.00 to $224.00 in a research note on Friday, May 8th. Monness Crespi & Hardt reissued a “sell” rating on shares of Coinbase Global in a report on Friday, June 5th. Finally, Robert W. Baird lowered their target price on shares of Coinbase Global from $160.00 to $142.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $250.65.

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.