BLKBRD Asset Management LP Sells 41,040 Shares of Coinbase Global, Inc. $COIN

BLKBRD Asset Management LP lessened its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 73.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,918 shares of the cryptocurrency exchange’s stock after selling 41,040 shares during the period. Coinbase Global accounts for about 4.5% of BLKBRD Asset Management LP’s holdings, making the stock its 16th biggest holding. BLKBRD Asset Management LP’s holdings in Coinbase Global were worth $3,374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Palisade Asset Management LLC bought a new stake in Coinbase Global during the third quarter worth about $29,000. Brooklands Fund Management Ltd bought a new stake in Coinbase Global during the fourth quarter worth about $34,000. Foster Dykema Cabot & Partners LLC bought a new stake in Coinbase Global during the third quarter worth about $35,000. Stephens Consulting LLC grew its stake in shares of Coinbase Global by 99.0% in the fourth quarter. Stephens Consulting LLC now owns 201 shares of the cryptocurrency exchange’s stock valued at $45,000 after buying an additional 100 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID increased its holdings in Coinbase Global by 728.0% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 207 shares of the cryptocurrency exchange’s stock worth $47,000 after buying an additional 182 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Coinbase teamed up with MassPay to streamline global payments using stablecoins, highlighting growing real-world use cases for its crypto infrastructure. Coinbase Teams Up with MassPay to Streamline Global Payments Using Stablecoins
• Positive Sentiment: The company launched AI tools and “agentic trading” features that can provide investment ideas and execute trades within user-defined limits, which could broaden engagement and trading activity. Coinbase is launching AI tools that give investment advice and make trades on your behalf
• Positive Sentiment: Coinbase expanded into prediction markets and derivatives, and added more tokenized equity offerings, signaling a faster move into higher-growth trading products. Coinbase Expands Into Agentic Trading, New Prediction Markets Contracts And Derivatives
• Positive Sentiment: Coinbase is allowing users to transfer stock portfolios onto its platform, another sign it is trying to become a full-service brokerage-like venue rather than only a crypto exchange. Coinbase lets users transfer stock portfolios as exchange expands beyond crypto
• Positive Sentiment: Coverage around tokenized U.S. stocks suggests investor enthusiasm for Coinbase’s push into on-chain equities, which could create a new revenue stream and draw more attention to the stock. Coinbase Launches Real Tokenized Stocks, Robinhood, Kraken Race To Follow
• Neutral Sentiment: Brian Armstrong’s comments on tokenized stocks and opening U.S. equity access to global investors keep Coinbase in the spotlight, but are more explanatory than immediately material. Coinbase CEO on tokenized stock launch: Opens US equity access to global investors
• Neutral Sentiment: Several articles noted that COIN is a trending stock and that Bitcoin sentiment has improved, but these are mostly sentiment/market-interest indicators rather than direct catalysts. Coinbase Global, Inc. (COIN) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Broader commentary still points to valuation concerns and earlier weakness in Coinbase shares, which may limit upside if the new product launches do not quickly translate into revenue. Coinbase (COIN) Stock Valuation After AI Agents Launch And New Trust Charter Approval

Wall Street Analyst Weigh In

Several research firms have issued reports on COIN. Citizens Jmp dropped their price target on shares of Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating on the stock in a research report on Friday, April 10th. President Capital upped their price target on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. HC Wainwright dropped their price target on shares of Coinbase Global from $350.00 to $310.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. The Goldman Sachs Group upped their price target on shares of Coinbase Global from $226.00 to $228.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, Bank of America dropped their price target on shares of Coinbase Global from $288.00 to $234.00 in a research report on Thursday, April 2nd. Eighteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $250.23.

Insider Activity

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction on Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global 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 transaction, the director directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 30,647 shares of company stock valued at $5,740,941. 16.66% of the stock is owned by company insiders.

Coinbase Global Trading Down 0.2%

COIN stock opened at $169.27 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. The company has a fifty day moving average price of $184.95 and a two-hundred day moving average price of $202.67. Coinbase Global, Inc. has a one year low of $139.36 and a one year high of $444.64. The stock has a market cap of $44.60 billion, a price-to-earnings ratio of 63.64, a price-to-earnings-growth ratio of 5.40 and a beta of 3.32.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. Equities analysts anticipate that Coinbase Global, Inc. will post 1.93 EPS for the current year.

Coinbase Global Company 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.