Coinbase Global (NASDAQ:COIN) Director Marc Andreessen Sells 13,676 Shares of Stock

Coinbase Global, Inc. (NASDAQ:COIN) Director Marc Andreessen sold 13,676 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $186.18, for a total value of $2,546,197.68. Following the transaction, the director directly owned 1,115,810 shares of the company’s stock, valued at approximately $207,741,505.80. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Price Performance

Shares of COIN traded up $5.22 during midday trading on Monday, reaching $188.22. The stock had a trading volume of 7,802,886 shares, compared to its average volume of 10,237,729. Coinbase Global, Inc. has a 52 week low of $139.11 and a 52 week high of $402.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42. The firm’s 50 day moving average price is $173.36 and its 200-day moving average price is $175.75. The company has a market capitalization of $49.66 billion, a P/E ratio of -49.02 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data 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 negative net margin of 15.72% and a positive return on equity of 3.12%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.14 EPS. On average, analysts forecast that Coinbase Global, Inc. will post -0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on COIN. Needham & Company LLC reduced their price objective on shares of Coinbase Global from $220.00 to $177.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Compass Point upgraded shares of Coinbase Global from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $177.00 in a report on Monday, September 14th. Citigroup reissued a “market outperform” rating on shares of Coinbase Global in a research note on Friday, July 31st. Canaccord Genuity Group restated a “buy” rating and set a $300.00 target price on shares of Coinbase Global in a report on Friday, July 31st. Finally, Piper Sandler lifted their price target on shares of Coinbase Global from $146.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $222.97.

Institutional Trading of Coinbase Global

Hedge funds have recently bought and sold shares of the company. Archer Investment Corp acquired a new position in Coinbase Global in the 2nd quarter worth approximately $26,000. MV Capital Management Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Osbon Capital Management LLC purchased a new position in shares of Coinbase Global during the fourth quarter valued at $30,000. Glen Eagle Advisors LLC grew its holdings in shares of Coinbase Global by 101.1% during the first 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. Finally, Brooklands Fund Management Ltd acquired a new position in Coinbase Global during the fourth quarter valued at $34,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Key Coinbase Global News

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

• Positive Sentiment: Bitcoin strength is supporting crypto-exchange stocks. Bitcoin approached $87,000, near its late-September high, and improving U.S. demand indicated by the Coinbase Premium Index is favorable for trading activity and transaction revenue. MSTR, COIN, CRCL, BMNR Stocks Rally With Bitcoin Within $500 Of September Peak
• Positive Sentiment: Bank of America raised its Coinbase price target to $203 while maintaining a Buy rating. The upgrade provides a positive valuation signal, although the company has missed analyst earnings estimates in each of the last three quarters. Bank of America raises Coinbase price target to $203
• Positive Sentiment: Coinbase’s expanded partnership with Citigroup could strengthen its institutional business. The collaboration supports stablecoin payments and Coinbase Virtual Accounts, linking Coinbase’s digital-asset infrastructure with Citi’s banking network. Brian Armstrong Cheers Citi Partnership
• Positive Sentiment: Crypto-friendly political momentum may improve the regulatory outlook. Fairshake, supported by Coinbase and other crypto-industry firms, plans to back 32 House candidates who supported the CLARITY market-structure bill. FinCEN’s withdrawal of proposed crypto-mixing and self-custody reporting rules is also viewed as less restrictive for the industry. Crypto PAC announces support for 32 House candidates
• Neutral Sentiment: A proposed stablecoin backed by Visa, Mastercard, Stripe and Coinbase could expand the market but increase competition. The initiative may create new distribution opportunities while potentially challenging Coinbase’s existing USDC-related economics. Visa, Mastercard, Stripe, and Coinbase Commit $1 Billion to New Stablecoin
• Negative Sentiment: Chief Accounting Officer Jennifer Jones plans to retire after a successor is appointed, extending a period of leadership changes that follows Coinbase’s reported 14% workforce reduction. Coinbase CAO to retire
• Negative Sentiment: Comparisons with Intercontinental Exchange highlight COIN’s riskier investment profile. Analysts view ICE as stronger on projected growth, share gains and valuation because of its more diversified business. Coinbase has also continued to trail earnings expectations. Coinbase vs. Intercontinental: Which Exchange Stock Has an Edge?

About Coinbase Global

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.