OP Asset Management Ltd Invests $6.47 Million in Coinbase Global, Inc. $COIN

OP Asset Management Ltd purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, Holdings Channel reports. The fund purchased 37,052 shares of the cryptocurrency exchange’s stock, valued at approximately $6,470,000.

A number of other institutional investors have also recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its holdings in Coinbase Global by 24.2% in the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 413 shares during the period. Empowered Funds LLC grew its stake in shares of Coinbase Global by 25.8% during the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after purchasing an additional 1,761 shares during the period. Focus Partners Wealth increased its holdings in shares of Coinbase Global by 9.9% in the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock valued at $896,000 after purchasing an additional 467 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Coinbase Global in the 2nd quarter valued at about $285,000. Finally, Cerity Partners LLC lifted its stake in shares of Coinbase Global by 8.6% in the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after purchasing an additional 1,402 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase CEO Brian Armstrong said the company is still open to more acquisitions after closing its $2.9 billion Deribit deal, signaling management may keep expanding the platform and adding new growth drivers. Coinbase Open To More Acquisitions After $2.9B Deribit Deal Closes, CEO Says
• Positive Sentiment: Coinbase opened its Luxembourg MiCA hub, giving it a regulated base to serve all 27 EU states and strengthening its international expansion strategy. Coinbase Opens Luxembourg MiCA Hub as Binance Races EU Deadline
• Positive Sentiment: Crypto-backed candidates supported by Fairshake and affiliates won key U.S. primaries, which could improve the odds of a friendlier regulatory environment for Coinbase and the broader crypto sector. Crypto-backed candidates notch wins in three US state primaries
• Neutral Sentiment: Short-interest data showed no meaningful change in available shares, so this update does not appear to provide a clear trading signal for the stock.
• Negative Sentiment: Bitcoin demand signals remain weak, with one analyst pointing to the Coinbase Premium as evidence of fading U.S. institutional demand, which can weigh on Coinbase shares. Bitcoin demand is gone for 46 days, here’s what this analyst says investors should know
• Negative Sentiment: Several recent articles linked COIN’s weakness to broad crypto selling, softer trading volumes, and caution after the company’s weaker quarterly results and restructuring plan, all of which suggest near-term earnings pressure. Here’s Why Coinbase Global, Inc. (COIN) Fell More Than Broader Market

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was 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 owned 30,000 shares of the company’s stock, valued at approximately $5,446,200. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,647 shares of company stock worth $5,740,941 in the last quarter. Insiders own 16.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wedbush set a $224.00 price objective on shares of Coinbase Global in a report on Friday, May 8th. Oppenheimer dropped their target price on shares of Coinbase Global from $227.00 to $224.00 in a report on Friday, May 8th. Robert W. Baird reduced their price target on shares of Coinbase Global from $160.00 to $142.00 and set a “neutral” rating for the company in a research report on Friday, June 5th. Rothschild & Co Redburn boosted their price target on Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, B. Riley Financial lowered their price target on Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a report on Monday, June 1st. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $250.65.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $142.52 on Friday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $37.55 billion, a P/E ratio of 53.58, a price-to-earnings-growth ratio of 5.30 and a beta of 3.32. The firm has a 50-day moving average price of $182.68 and a two-hundred day moving average price of $197.20. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN) last released its quarterly 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 during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The firm’s revenue for the quarter was down 30.5% compared to the same quarter last year. As a group, research analysts expect that Coinbase Global, Inc. will post 1.74 earnings per share for the current fiscal year.

About Coinbase Global

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.