Triglav Investments D.O.O. Purchases New Position in Coinbase Global, Inc. $COIN

Triglav Investments D.O.O. acquired a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,650 shares of the cryptocurrency exchange’s stock, valued at approximately $637,000.

Other hedge funds have also bought and sold shares of the company. Palisade Asset Management LLC bought a new stake in Coinbase Global during the 3rd quarter valued at $29,000. MV Capital Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter worth $27,000. Osbon Capital Management LLC bought a new position in shares of Coinbase Global in the fourth quarter worth $30,000. JPL Wealth Management LLC purchased a new position in shares of Coinbase Global in the third quarter valued at $49,000. Finally, Brooklands Fund Management Ltd purchased a new position in shares of Coinbase Global in the fourth quarter valued at $34,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase gained sympathy buying after Circle received OCC approval to launch a national trust bank, reinforcing a more constructive regulatory backdrop for crypto-related firms. Coinbase Stock Trades Higher After Circle Receives OCC Approval to Open National Trust Bank
• Positive Sentiment: Citizens JMP raised its price target on Coinbase to $325 and kept an outperform rating, which supports the idea that Wall Street still sees significant upside from current levels. Coinbase Global (NASDAQ:COIN) Given New $325.00 Price Target at Citizens Jmp
• Positive Sentiment: Bitcoin strength and reports of a rising “Coinbase Premium” suggested renewed U.S. crypto demand, which can boost Coinbase trading activity and investor expectations for volume-driven revenue. Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant
• Positive Sentiment: Coinbase also received attention for a UK authorization that could help it expand into a broader “everything exchange” offering, a potential long-term growth catalyst. Coinbase UK License Marks Major Step Toward Bringing ‘Everything Exchange’ to Life
• Neutral Sentiment: Analysts and market commentary continued to highlight Coinbase as a high-profile crypto proxy, keeping the stock in focus for traders, but these pieces were more commentary than fresh fundamental news. Is Trending Stock Coinbase Global, Inc. (COIN) a Buy Now?
• Neutral Sentiment: Coinbase’s chief legal officer, Paul Grewal, is stepping down after a successful tenure, but the company said the transition is orderly and succession plans are already in place. Coinbase restores prediction markets trading after technical issue
• Negative Sentiment: Recent analyst updates were mixed, with Barclays cutting its price target to $99 and maintaining an underweight rating, showing that not all analysts are bullish on the stock’s valuation and earnings outlook. Coinbase Global had its price target lowered by Barclays PLC

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COIN. Bank of America dropped their price objective on Coinbase Global from $288.00 to $234.00 in a report on Thursday, April 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of Coinbase Global in a report on Wednesday, June 17th. BTIG Research reiterated a “buy” rating and set a $280.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Coinbase Global in a report on Wednesday, June 17th. Finally, Robert W. Baird cut their price objective 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. Eighteen equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $251.79.

Insider Activity

In related news, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total value of $1,250,490.16. Following the transaction, the insider directly owned 517 shares in the company, valued at approximately $97,718.17. This represents a 92.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 10,020 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the sale, the chief financial officer directly owned 377,201 shares in the company, valued at $75,440,200. This represents a 2.59% 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. In the last quarter, insiders have sold 40,647 shares of company stock worth $7,331,841. Company insiders own 16.66% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $159.07 on Monday. The company has a market capitalization of $41.91 billion, a PE ratio of 59.80, a price-to-earnings-growth ratio of 6.10 and a beta of 3.35. Coinbase Global, Inc. has a 52-week low of $139.18 and a 52-week high of $444.64. The business’s fifty day moving average is $173.89 and its 200 day moving average is $189.48. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last posted its 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). The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.Coinbase Global’s quarterly revenue was down 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities research analysts anticipate that Coinbase Global, Inc. will post 1.75 EPS 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.