Coinbase Global, Inc. $COIN Stock Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. decreased its position in Coinbase Global, Inc. (NASDAQ:COIN) by 12.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,463 shares of the cryptocurrency exchange’s stock after selling 5,588 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Coinbase Global were worth $7,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Paradigm Operations LP grew its position in Coinbase Global by 3.3% during the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after acquiring an additional 134,425 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Coinbase Global in the 2nd quarter valued at $142,995,000. National Pension Service boosted its stake in shares of Coinbase Global by 117.1% in the 2nd quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange’s stock valued at $93,784,000 after purchasing an additional 346,045 shares in the last quarter. Southpoint Capital Advisors LP purchased a new stake in shares of Coinbase Global in the 1st quarter valued at $104,766,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Coinbase Global by 10.6% during the 4th quarter. Hsbc Holdings PLC now owns 482,427 shares of the cryptocurrency exchange’s stock valued at $109,635,000 after purchasing an additional 46,319 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Coinbase Global News Roundup

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

• Positive Sentiment: International expansion: Coinbase plans to add stock trading, derivatives and prediction markets to Coinbase Australia, subject to Australian regulatory approval. The move supports management’s strategy to build an “everything exchange” and diversify beyond cryptocurrency trading. What Does Coinbase Global Entering Australian Stocks and Derivatives Mean?
• Positive Sentiment: Compliance and institutional credibility: Coinbase assisted the U.S. Department of Justice and the U.K. National Crime Agency in tracing funds and freezing assets linked to West African crypto scams. The cooperation could strengthen Coinbase’s reputation with regulators and institutional customers. Coinbase Joins DOJ and UK Crime Agency to Target West Africa Crypto Scams
• Positive Sentiment: Industry support: Tether co-founder Reeve Collins identified Coinbase, along with Circle and Robinhood, as leading blockchain-finance stocks, providing a favorable—though nonbinding—endorsement. Tether Co-Founder Names Coinbase, Circle and Robinhood as Top Blockchain Stocks
• Neutral Sentiment: Bitcoin security planning: Coinbase published a paper urging preparations for quantum-computing threats to Bitcoin and highlighted potential quantum-resistant wallet designs. The initiative may reduce long-term custody risk, but it does not provide an immediate earnings catalyst. Coinbase Paper Outlines Bitcoin Post-Quantum Security Plan
• Neutral Sentiment: Government crypto transfer: Wallets linked to the U.S. government moved more than $100 million in seized cryptocurrency to Coinbase Prime. No sale was confirmed, so the transaction’s effect on trading volume and revenue remains uncertain. US Government Wallets Move Over $100 Million in Seized Crypto
• Negative Sentiment: Competitive pressure: Robinhood Chain reportedly surpassed Coinbase’s Base network in 30-day trading volume, raising concerns that Coinbase could face growing competition for decentralized-finance activity and associated ecosystem revenue. Robinhood Chain Hits $100 Billion and Outtrades Base
• Negative Sentiment: Revenue concerns remain the main overhang: Analysts and commentary question whether Coinbase’s revenue decline has ended, particularly because management’s prior guidance did not clearly signal a recovery. Bitcoin’s weakening Coinbase premium also suggests softer U.S. demand, potentially pressuring transaction activity. Is Coinbase Stock Ready for a Longer Revenue Slide? Bitcoin Coinbase Premium Deepens as U.S. Demand Weakens

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $181.79 on Wednesday. The business has a 50 day moving average of $176.63 and a 200 day moving average of $174.98. Coinbase Global, Inc. has a 52 week low of $139.11 and a 52 week high of $373.25. The company has a market cap of $47.96 billion, a PE ratio of -47.34 and a beta of 3.41. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.92). The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. Coinbase Global’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.14 EPS. As a group, equities research analysts forecast that Coinbase Global, Inc. will post -0.50 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 target price on shares of Coinbase Global in a research 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. Citigroup lifted their target price on shares of Coinbase Global from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $208.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $224.44.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer Jones sold 2,062 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. The transaction was disclosed in a legal 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, CFO Alesia Haas sold 39,030 shares of Coinbase Global stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $205.24, for a total value of $8,010,517.20. Following the sale, the chief financial officer owned 345,376 shares in the company, valued at $70,884,970.24. This represents a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 127,188 shares of company stock worth $23,029,558 over the last 90 days. 16.66% of the stock is currently owned by insiders.

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.