14,453 Shares in Coinbase Global, Inc. $COIN Acquired by Norris Financial Group LLC

Norris Financial Group LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 14,453 shares of the cryptocurrency exchange’s stock, valued at approximately $2,524,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock valued at $5,970,285,000 after acquiring an additional 184,043 shares in the last quarter. Geode Capital Management LLC boosted its stake in Coinbase Global by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock worth $1,374,080,000 after purchasing an additional 189,080 shares in the last quarter. Paradigm Operations LP boosted its stake in Coinbase Global by 3.3% in the 4th quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock worth $963,912,000 after purchasing an additional 134,425 shares in the last quarter. Norges Bank purchased a new stake in Coinbase Global during the 4th quarter valued at about $656,744,000. Finally, ARK Investment Management LLC grew its position in Coinbase Global by 6.1% during the 4th quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock valued at $574,832,000 after purchasing an additional 146,388 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

COIN has been the subject of several recent analyst reports. Barclays reaffirmed an “underweight” rating and issued a $95.00 target price on shares of Coinbase Global in a report on Friday. Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Coinbase Global in a report on Wednesday, June 17th. Compass Point reaffirmed a “sell” rating on shares of Coinbase Global in a research report on Monday, June 1st. Raymond James Financial initiated coverage on Coinbase Global in a research note on Wednesday, July 22nd. They set a “market perform” rating on the stock. Finally, Citizens Jmp reduced their target price on Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $233.47.

Coinbase Global Stock Up 2.2%

COIN opened at $163.58 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average price of $164.00 and a 200-day moving average price of $181.97. Coinbase Global, Inc. has a twelve month low of $139.18 and a twelve month high of $402.16. The stock has a market capitalization of $43.10 billion, a price-to-earnings ratio of 61.50, a PEG ratio of 10.30 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The company had revenue of $1.41 billion during 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%.The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. Equities research analysts forecast that Coinbase Global, Inc. will post 1.42 earnings per share for the current year.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase captured a record 10.3% share of global crypto trading volume, up from 9.1% in the first quarter, indicating that it is gaining market share even as overall industry activity weakens. The company also highlighted growth in derivatives, stablecoins, tokenized finance, prediction markets and subscription services. Coinbase Q2 results and record market share
• Positive Sentiment: A Manhattan federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, including claims involving matched customer transactions. The ruling could reduce legal exposure, although remaining claims may still create risk. Coinbase customer lawsuit ruling
• Neutral Sentiment: Management is lobbying for the Senate’s CLARITY Act, which could establish clearer crypto-market rules and potentially make it easier for Coinbase to expand products and attract institutional and retail customers. Passage and timing remain uncertain. CLARITY Act implications for Coinbase
• Negative Sentiment: Coinbase reported a GAAP net loss of $359.5 million, or $1.36 per diluted share, versus analysts’ expected loss of roughly $122 million, while revenue fell 18.5% year over year to $1.22 billion, below estimates near $1.29 billion to $1.31 billion. This marked the company’s third consecutive quarterly loss and its third straight revenue and earnings miss. Coinbase third-quarterly loss report
• Negative Sentiment: Lower spot-crypto trading volumes and subdued market volatility reduced transaction revenue and outweighed gains in subscription and services revenue. The results raise doubts about whether Coinbase can quickly diversify beyond its traditional exchange business.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the transaction, the insider owned 517 shares in the company, valued at $97,718.17. This represents a 92.75% decrease in their position. 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 ninety days, insiders sold 30,627 shares of company stock worth $5,327,841. 16.66% of the stock is owned by corporate insiders.

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.