Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases Shares of 40,675 Coinbase Global, Inc. $COIN

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,675 shares of the cryptocurrency exchange’s stock, valued at approximately $9,198,000.

Several other hedge funds also recently added to or reduced their stakes in COIN. REAP Financial Group LLC purchased a new stake in Coinbase Global in the third quarter valued at $25,000. Palisade Asset Management LLC purchased a new stake in Coinbase Global in the third quarter valued at $29,000. Foster Dykema Cabot & Partners LLC purchased a new stake in Coinbase Global in the third quarter valued at $35,000. Cloud Capital Management LLC purchased a new stake in Coinbase Global in the third quarter valued at $36,000. Finally, Stephens Consulting LLC boosted its holdings in 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 purchasing an additional 100 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COIN has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Coinbase Global from $206.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Jefferies Financial Group upped their price target on shares of Coinbase Global from $151.00 to $181.00 and gave the company a “hold” rating in a report on Thursday, April 9th. Robert W. Baird lowered their price target on shares of Coinbase Global from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. UBS Group set a $264.00 price target on shares of Coinbase Global in a report on Friday, February 13th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a research note on Wednesday, May 6th. Nineteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $252.20.

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 10,020 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 397,171 shares of the company’s stock, valued at approximately $79,434,200. This trade represents a 2.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 29,990 shares of company stock valued at $6,013,920. Company insiders own 16.66% of the company’s stock.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Investors are still focused on Coinbase as a potential beneficiary of crypto market structure reform, including the CLARITY Act and SEC moves that could expand tokenized stock trading and boost regulated crypto venues. Coinbase’s compliance-heavy model and derivatives business were highlighted as possible long-term strengths. Article Title
• Positive Sentiment: Coinbase also announced it will participate in the J.P. Morgan Global Technology, Media and Communications Conference, which can keep investor attention on management’s outlook and strategy. Article Title
• Neutral Sentiment: Broader crypto-related sentiment remains mixed: Bitcoin weakness has weighed on crypto-linked stocks, while some investors are rotating toward crypto companies with different business models and revenue exposure. Article Title
• Negative Sentiment: Sen. Elizabeth Warren criticized the OCC for allegedly allowing Coinbase and other crypto firms to operate with bank-like charters without proper safeguards, renewing regulatory overhang around Coinbase’s business model. Article Title
• Negative Sentiment: Warren also sent a formal letter accusing the OCC of illegally granting national trust charters to Coinbase and other crypto firms, asking for records by June 1, which could increase scrutiny and headline risk. Article Title

Coinbase Global Trading Up 2.1%

COIN stock opened at $193.45 on Wednesday. The company’s 50-day simple moving average is $190.99 and its 200-day simple moving average is $218.98. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.40. Coinbase Global, Inc. has a 52-week low of $139.36 and a 52-week high of $444.64. The firm has a market cap of $50.97 billion, a P/E ratio of 72.73, a PEG ratio of 6.90 and a beta of 3.38.

Coinbase Global (NASDAQ:COIN) last posted 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). Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the company earned $0.24 earnings per share. The company’s revenue was down 30.5% compared to the same quarter last year. As a group, equities analysts forecast that Coinbase Global, Inc. will post 1.75 EPS for the current fiscal year.

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.