ProShare Advisors LLC Acquires 3,015 Shares of Coinbase Global, Inc. $COIN

ProShare Advisors LLC lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 6.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,141 shares of the cryptocurrency exchange’s stock after acquiring an additional 3,015 shares during the quarter. ProShare Advisors LLC’s holdings in Coinbase Global were worth $11,113,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Coinbase Global by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock valued at $8,847,905,000 after purchasing an additional 2,007,930 shares during the period. North Dakota State Investment Board bought a new stake in Coinbase Global in the 4th quarter valued at $1,626,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Coinbase Global in the 3rd quarter valued at $14,491,000. Artisan Partners Limited Partnership bought a new stake in Coinbase Global in the 3rd quarter valued at $224,663,000. Finally, Harvest Portfolios Group Inc. boosted its stake in Coinbase Global by 42.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 309,496 shares of the cryptocurrency exchange’s stock valued at $104,452,000 after purchasing an additional 92,292 shares during the period. 68.84% of the stock is currently owned by institutional investors.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $193.56 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.34 and a current ratio of 2.34. Coinbase Global, Inc. has a fifty-two week low of $139.36 and a fifty-two week high of $444.64. The company has a market cap of $51.00 billion, a price-to-earnings ratio of 72.77, a PEG ratio of 6.97 and a beta of 3.38. The stock has a fifty day moving average price of $190.76 and a 200-day moving average price of $216.96.

Coinbase Global (NASDAQ:COIN) last posted its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.06% 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 period last year, the firm posted $0.24 EPS. Coinbase Global’s quarterly revenue was down 30.5% on a year-over-year basis. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In other news, CFO Alesia J. Haas sold 10,020 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the transaction, the chief financial officer owned 397,171 shares of the company’s stock, valued at approximately $79,434,200. The trade was a 2.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 29,990 shares of company stock worth $6,013,920. 16.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on COIN. Canaccord Genuity Group reduced their price target on Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Monness Crespi & Hardt reiterated a “sell” rating and set a $110.00 target price (down from $115.00) on shares of Coinbase Global in a research report on Friday, May 8th. Mizuho upped their target price on Coinbase Global from $170.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Citizens Jmp cut their target price on Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a research report on Friday, April 10th. Finally, Zacks Research upgraded Coinbase Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Nineteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of “Hold” and a consensus price target of $252.20.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase said it will launch perpetual-style equity index futures in June, another step in broadening its derivatives lineup and potentially adding a new source of trading revenue. Coinbase to launch perpetual-style equity index futures in June
• Positive Sentiment: The Federal Reserve is reportedly proposing limited master accounts for crypto firms, which could improve Coinbase’s long-term access to payment rails and strengthen the industry’s regulatory footing. Federal Reserve Proposes Limited Master Accounts For Crypto Firms
• Positive Sentiment: Coinbase CEO Brian Armstrong said AI is handling most compliance work and has cut account-restriction resolution times by 90%, a sign of better efficiency and lower operating friction. Coinbase CEO Brian Armstrong Says AI Is Doing ‘Most Of The Heavy Lifting’ In Compliance As Resolution Times Improve By 90%
• Positive Sentiment: Coinbase is expanding its stablecoin infrastructure business through Flipcash’s USDF launch on Solana, supporting its strategy to become a broader crypto-financial platform beyond spot trading. Coinbase expands branded stablecoin infrastructure business with Flipcash USDF launch
• Neutral Sentiment: Coinbase-linked policy efforts got a boost as Fairshake and affiliated crypto PACs won several U.S. state primaries, which could help the industry’s political influence later, but the impact on near-term earnings is indirect. Fairshake PAC’s $20M backing pays off in three US state primaries
• Neutral Sentiment: Several articles noted broader crypto market weakness, negative Coinbase Premium readings, and Bitcoin outflows, which can weigh on COIN because trading activity is tied to crypto prices and volumes. Coinbase CEO Brian Armstrong Says AI Is Doing ‘Most Of The Heavy Lifting’ In Compliance As Resolution Times Improve By 90%
• Negative Sentiment: One report highlighted ongoing tech layoffs, including at Coinbase, reinforcing concerns about cost-cutting and a tougher operating backdrop in the sector. Grads Get Rude Welcome from Job Market Battered by AI-Fueled Tech Layoffs

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.