Purpose Unlimited Inc. Buys New Position in Coinbase Global, Inc. $COIN

Purpose Unlimited Inc. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 47,899 shares of the cryptocurrency exchange’s stock, valued at approximately $10,832,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of COIN. Rockefeller Capital Management L.P. lifted its position in shares of Coinbase Global by 0.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 216,150 shares of the cryptocurrency exchange’s stock worth $48,880,000 after purchasing an additional 1,591 shares in the last quarter. Osbon Capital Management LLC purchased a new position in shares of Coinbase Global in the fourth quarter valued at approximately $30,000. World Investment Advisors grew its holdings in shares of Coinbase Global by 37.3% in the fourth quarter. World Investment Advisors now owns 5,709 shares of the cryptocurrency exchange’s stock valued at $1,291,000 after purchasing an additional 1,552 shares in the last quarter. Audent Global Asset Management LLC grew its holdings in shares of Coinbase Global by 362.4% in the fourth quarter. Audent Global Asset Management LLC now owns 12,019 shares of the cryptocurrency exchange’s stock valued at $2,718,000 after purchasing an additional 9,420 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Coinbase Global by 5.7% in the fourth quarter. Corient Private Wealth LLC now owns 15,478 shares of the cryptocurrency exchange’s stock valued at $3,500,000 after purchasing an additional 835 shares in the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In related news, insider Paul Grewal sold 1,960 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total value of $346,684.80. Following the completion of the transaction, the insider directly owned 84,753 shares of the company’s stock, valued at $14,991,110.64. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the transaction, the insider owned 517 shares in the company, valued at $97,718.17. This represents a 92.75% 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. Insiders sold a total of 30,647 shares of company stock valued at $5,740,941 over the last three months. 16.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on COIN shares. Compass Point reiterated a “sell” rating on shares of Coinbase Global in a report on Monday, June 1st. KeyCorp restated a “sector weight” rating on shares of Coinbase Global in a research note on Wednesday. Bank of America cut their price objective on Coinbase Global from $288.00 to $234.00 in a research report on Thursday, April 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Coinbase Global in a research report on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Coinbase Global in a research note on Wednesday. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $250.65.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $163.26 on Friday. The business has a 50-day moving average of $184.28 and a two-hundred day moving average of $200.91. The company has a market capitalization of $43.01 billion, a price-to-earnings ratio of 61.38, a price-to-earnings-growth ratio of 5.76 and a beta of 3.32. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 net margin of 12.20% and a return on equity of 4.16%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The company’s revenue was down 30.5% compared to the same quarter last year. On average, analysts forecast that Coinbase Global, Inc. will post 1.74 earnings per share for the current fiscal year.

Coinbase Global News Summary

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

• Positive Sentiment: ARK Invest continued buying Coinbase shares, and Jefferies said Coinbase’s push into tokenized equities and AI could expand its addressable market. Cathie Wood’s Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block
• Positive Sentiment: Coinbase launched tokenized stocks and an AI advisor, reinforcing its move beyond crypto trading into a broader “everything” platform. Coinbase (COIN) Launches Tokenized Stocks And AI Advisor Beyond Crypto
• Positive Sentiment: Coinbase Ventures invested in Multipli through the Base Ecosystem Fund, supporting growth in tokenized assets and institutional credit infrastructure. Coinbase Ventures Invests in Multipli
• Neutral Sentiment: Shareholders re-elected the board and ratified Deloitte as auditor, a routine governance update with limited direct trading impact. Coinbase Shareholders Reelect Board, Ratify Deloitte Auditor
• Neutral Sentiment: Bitcoin-related flows were said to be easing, with Coinbase exchange inflows from mid-sized investors hitting their lowest levels since early April, which may reduce near-term selling pressure on crypto markets. Bitcoin traders expect new lows but data cautions against overly bearish bias
• Negative Sentiment: Kentucky sued Kalshi and Polymarket over alleged illegal sports betting, also naming Coinbase-linked prediction market activity in the legal fight, adding regulatory overhang. Kentucky sues Kalshi, Polymarket, joining prediction market legal battle
• Negative Sentiment: Satori Finance, a Coinbase-backed project, said it will wind down operations due to weak market conditions, another sign of pressure in crypto-related venture activity. Coinbase-Backed Satori Finance Says It Will Wind Down Operations

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.