Prudential PLC Grows Stock Position in Coinbase Global, Inc. $COIN

Prudential PLC boosted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 38.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,506 shares of the cryptocurrency exchange’s stock after buying an additional 3,720 shares during the period. Prudential PLC’s holdings in Coinbase Global were worth $3,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. West Family Investments Inc. raised its holdings in Coinbase Global by 3.3% during the 3rd quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange’s stock valued at $347,000 after buying an additional 33 shares during the period. Waterfront Wealth Inc. raised its holdings in Coinbase Global by 4.8% during the 3rd quarter. Waterfront Wealth Inc. now owns 760 shares of the cryptocurrency exchange’s stock valued at $241,000 after buying an additional 35 shares during the period. GW&K Investment Management LLC raised its holdings in Coinbase Global by 32.2% during the 3rd quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange’s stock valued at $51,000 after buying an additional 37 shares during the period. Bridgewater Advisors Inc. raised its holdings in Coinbase Global by 1.2% during the 3rd quarter. Bridgewater Advisors Inc. now owns 3,307 shares of the cryptocurrency exchange’s stock valued at $1,116,000 after buying an additional 38 shares during the period. Finally, Flagship Harbor Advisors LLC raised its holdings in Coinbase Global by 2.0% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,229 shares of the cryptocurrency exchange’s stock valued at $752,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 1,960 shares of the stock in a transaction 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 sale, the insider owned 84,753 shares in the company, valued at $14,991,110.64. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total value of $1,250,490.16. Following the completion of the sale, the insider owned 517 shares in the company, valued at approximately $97,718.17. The trade was a 92.75% decrease in their position. 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 38,546 shares of company stock worth $7,422,495. 16.66% of the stock is currently owned by company insiders.

Coinbase Global Stock Performance

COIN stock opened at $152.40 on Friday. 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 business’s fifty day simple moving average is $186.06 and its two-hundred day simple moving average is $207.59. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64. The firm has a market cap of $40.15 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 5.28 and a beta of 3.32.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share 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 during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. Analysts predict that Coinbase Global, Inc. will post 1.77 earnings per share for the current year.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase is expanding into new products with its SpaceX pre-IPO perpetual futures launch for overseas users, a move that could open up a new, higher-margin trading category and support long-term growth. Article Title
• Positive Sentiment: Coinbase and Better Mortgage completed the first U.S. Bitcoin-backed home loan approved by Fannie Mae, highlighting Coinbase’s push into real-world crypto utility and financial infrastructure. Article Title
• Positive Sentiment: Coinbase CEO Brian Armstrong’s comments on U.S.-China competition reinforce the company’s long-term growth narrative and pro-innovation image. Article Title
• Neutral Sentiment: Coinbase remains widely watched by investors, with high web traffic and analyst attention keeping the stock in focus, though this alone does not change fundamentals. Article Title
• Negative Sentiment: Baird lowered its price target on Coinbase to $142 and flagged weak trading volumes, implying that crypto activity may stay soft for longer than bulls hoped. Article Title
• Negative Sentiment: Bitcoin’s continued selloff and broader crypto weakness are pressuring Coinbase shares by reducing expected trading volume and investor risk appetite. Article Title
• Negative Sentiment: A Coinbase director sold 10,000 shares in a pre-arranged transaction, which can add to cautious sentiment even if it was not a discretionary sale. Article Title

Wall Street Analyst Weigh In

Several analysts recently weighed in on COIN shares. Sanford C. Bernstein decreased their price target on Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Deutsche Bank Aktiengesellschaft decreased their price target on Coinbase Global from $206.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, May 8th. HC Wainwright decreased their price target on Coinbase Global from $350.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, May 8th. President Capital increased their price target on Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Citizens Jmp reduced their target price on Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating on the stock in a research note on Friday, April 10th. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $250.23.

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.