Praxis Investment Management Inc. Cuts Stake in Coinbase Global, Inc. $COIN

Praxis Investment Management Inc. reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 67.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,358 shares of the cryptocurrency exchange’s stock after selling 2,816 shares during the period. Praxis Investment Management Inc.’s holdings in Coinbase Global were worth $307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. REAP Financial Group LLC acquired a new position in Coinbase Global during the third quarter valued at $25,000. Palisade Asset Management LLC acquired a new position in Coinbase Global during the third quarter valued at $29,000. Foster Dykema Cabot & Partners LLC acquired a new position in Coinbase Global during the third quarter valued at $35,000. Cloud Capital Management LLC acquired a new position in Coinbase Global during the third quarter valued at $36,000. Finally, Stephens Consulting LLC lifted its position in Coinbase Global by 99.0% during the fourth quarter. Stephens Consulting LLC now owns 201 shares of the cryptocurrency exchange’s stock valued at $45,000 after purchasing an additional 100 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the transaction, the chief financial officer owned 397,171 shares of the company’s stock, valued at approximately $79,434,200. The trade was a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 29,990 shares of company stock valued at $6,013,920 over the last three months. 16.66% of the stock is currently owned by insiders.

Coinbase Global Stock Down 2.5%

COIN opened at $192.96 on Friday. Coinbase Global, Inc. has a fifty-two week low of $139.36 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.34 and a current ratio of 2.34. The company has a fifty day moving average of $189.05 and a two-hundred day moving average of $226.92. The stock has a market capitalization of $50.96 billion, a price-to-earnings ratio of 43.95, a PEG ratio of 4.47 and a beta of 3.38.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data 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 net margin of 17.55% and a return on equity of 8.68%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s quarterly revenue was down 30.5% on a year-over-year basis. On average, research analysts expect that Coinbase Global, Inc. will post 2.78 earnings per share for the current year.

Coinbase Global News Summary

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

• Positive Sentiment: Recorded market-share and derivatives revenue — Coinbase said it reached a record 8.6% crypto market share and retail derivatives annualized revenue topped $200M, showing product traction beyond spot trading. Read More.
• Positive Sentiment: AWS / USDC payments partnership and agent-payments work — Coinbase is a partner for Amazon Bedrock agent payment tooling (USDC rails), opening new stablecoin payment use cases and potential volume sources. Read More.
• Positive Sentiment: Regulatory clarity potential — Coinbase said CLARITY Act markup could happen soon; bipartisan movement that limits uncertain stablecoin rules would reduce regulatory risk for Coinbase’s dollar-rail products. Read More.
• Neutral Sentiment: New products and listings — Coinbase launched gold & silver perpetual futures (USDC-settled, up to 25x) and other product expansions that diversify revenue but will take time to scale. Read More.
• Negative Sentiment: Q1 earnings and revenue miss — Coinbase reported $1.41B revenue (vs. ~$1.49B expected) and a GAAP loss of $1.49/sh, marking a second consecutive quarterly loss; transaction revenue fell sharply, which drove today’s selling pressure. Read More.
• Negative Sentiment: Layoffs and restructuring headline risk — Coinbase cut ~14% of staff (~700 roles) as it pivots to an “AI-native” operating model; near-term execution and morale risks contributed to volatility. Read More.
• Negative Sentiment: Legal overhang — Coinbase faces at least one suit alleging improper withholding of frozen funds tied to a prior theft, adding regulatory/legal uncertainty. Read More.

Analysts Set New Price Targets

A number of research firms recently issued reports on COIN. UBS Group set a $264.00 target price on shares of Coinbase Global in a research report on Friday, February 13th. Canaccord Genuity Group decreased their target price on shares of Coinbase Global from $400.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a research report on Wednesday. Compass Point decreased their target price on shares of Coinbase Global from $190.00 to $140.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Finally, China Renaissance decreased their target price on shares of Coinbase Global from $301.50 to $223.20 and set a “buy” rating for the company in a research report on Monday, February 23rd. Nineteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $262.04.

Coinbase Global 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.