Nykredit A S Buys New Shares in Coinbase Global, Inc. $COIN

Nykredit A S bought a new position in Coinbase Global, Inc. (NASDAQ:COIN) in the 2nd quarter, Holdings Channel.com reports. The fund bought 30,188 shares of the cryptocurrency exchange’s stock, valued at approximately $4,413,000.

A number of other institutional investors have also bought and sold shares of COIN. Archer Investment Corp bought a new stake in Coinbase Global during the 2nd quarter valued at approximately $26,000. MV Capital Management Inc. bought a new position in Coinbase Global in the 4th quarter worth approximately $27,000. Palisade Asset Management LLC bought a new position in Coinbase Global in the 3rd quarter worth approximately $29,000. Osbon Capital Management LLC purchased a new stake in Coinbase Global during the 4th quarter valued at approximately $30,000. Finally, Glen Eagle Advisors LLC grew its holdings in Coinbase Global by 101.1% during the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock valued at $31,000 after buying an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Analyst Upgrades and Downgrades

COIN has been the topic of several research analyst reports. Oppenheimer lowered their target price on shares of Coinbase Global from $209.00 to $193.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Wolfe Research set a $325.00 target price on shares of Coinbase Global in a research note on Thursday, July 9th. President Capital raised their target price on shares of Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Barclays reduced their price target on shares of Coinbase Global from $99.00 to $95.00 and set an “underweight” rating on the stock in a report on Friday, July 31st. Finally, The Goldman Sachs Group boosted their price target on shares of Coinbase Global from $173.00 to $196.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $216.87.

Coinbase Global Stock Performance

COIN stock opened at $184.64 on Monday. The firm has a fifty day moving average price of $163.48 and a 200 day moving average price of $175.61. Coinbase Global, Inc. has a fifty-two week low of $139.11 and a fifty-two week high of $402.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42. The firm has a market cap of $48.72 billion, a PE ratio of -48.08 and a beta of 3.39.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $5.14 EPS. The company’s revenue for the quarter was down 18.5% on a year-over-year basis. Sell-side analysts anticipate that Coinbase Global, Inc. will post -0.39 earnings per share for the current fiscal year.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: U.S. equity perpetuals could expand revenue: Coinbase filed SEC notices covering plans to offer 24/7 single-stock perpetual futures to U.S. traders. The products could broaden Coinbase’s derivatives business and strengthen its “everything exchange” strategy, although Commodity Futures Trading Commission approval is still required and launch details remain undisclosed. Coinbase Brings 24/7 Stock Perpetuals to the US
• Positive Sentiment: International derivatives expansion: Coinbase launched regulated crypto derivatives trading in Canada, adding perpetual and dated contracts tied to major digital assets. The launch may increase trading volume, diversify revenue and support its global growth strategy. Can Canada’s Derivatives Launch Boost Coinbase’s Global Growth?
• Positive Sentiment: Crypto-policy optimism remains supportive: Investors continue to watch potential U.S. crypto market-structure legislation, including a Senate procedural vote expected September 15. Clearer rules could benefit Coinbase as a regulated exchange and custody provider.
• Neutral Sentiment: Board and investor-outreach updates: Coinbase added Anthony Armstrong, former CFO of xAI and X, to its board and plans appearances at upcoming Citi and Goldman Sachs conferences. These developments may provide strategic updates but do not change near-term earnings expectations.
• Negative Sentiment: Macro pressure on crypto assets: The hotter-than-expected jobs report increased the prospect of higher-for-longer interest rates, weighing on Bitcoin and other risk assets. Lower crypto prices and trading activity can reduce Coinbase’s transaction revenue, despite the possibility that higher rates support stablecoin income. Coinbase Slides as Hot Jobs Report Dents 10% Rally
• Negative Sentiment: Mixed analyst and insider signals: Zacks placed COIN on its “Strong Sell” list, while a director sold 10,000 shares for approximately $1.79 million under a pre-arranged Rule 10b5-1 plan. Coinbase also recently reported an earnings and revenue miss, with revenue down year over year. New Strong Sell Stocks for September 3rd

Insiders Place Their Bets

In related news, CAO Jennifer N. Jones sold 2,062 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $188.75, for a total value of $389,202.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 35,068 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $144.32, for a total transaction of $5,061,013.76. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 57,130 shares of company stock valued at $8,830,416 over the last three months. Corporate insiders own 16.66% of the company’s stock.

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.