Cibc World Market Inc. Raises Stock Position in Coinbase Global, Inc. $COIN

Cibc World Market Inc. raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 70.7% during the fourth quarter, Holdings Channel reports. The firm owned 62,169 shares of the cryptocurrency exchange’s stock after buying an additional 25,759 shares during the quarter. Cibc World Market Inc.’s holdings in Coinbase Global were worth $14,059,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in COIN. REAP Financial Group LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $25,000. Palisade Asset Management LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $29,000. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Coinbase Global during the 3rd quarter valued at $35,000. Stephens Consulting LLC boosted its holdings in shares of Coinbase Global by 99.0% during the 4th 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 boosted its holdings in shares of Coinbase Global by 728.0% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 207 shares of the cryptocurrency exchange’s stock valued at $47,000 after buying an additional 182 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Lawrence J. Brock sold 6,616 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $189.01, for a total value of $1,250,490.16. Following the transaction, the insider owned 517 shares in the company, valued at $97,718.17. The trade was a 92.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the transaction, the insider owned 84,753 shares in the company, valued at approximately $14,991,110.64. The trade was a 2.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 38,546 shares of company stock worth $7,422,495. 16.66% of the stock is currently owned by company insiders.

More Coinbase Global News

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

• Positive Sentiment: Coinbase is expanding into new products with its SpaceX pre-IPO perpetual futures launch for overseas users, a move that could open up a new, higher-margin trading category and support long-term growth. Article Title
• Positive Sentiment: Coinbase and Better Mortgage completed the first U.S. Bitcoin-backed home loan approved by Fannie Mae, highlighting Coinbase’s push into real-world crypto utility and financial infrastructure. Article Title
• Positive Sentiment: Coinbase CEO Brian Armstrong’s comments on U.S.-China competition reinforce the company’s long-term growth narrative and pro-innovation image. Article Title
• Neutral Sentiment: Coinbase remains widely watched by investors, with high web traffic and analyst attention keeping the stock in focus, though this alone does not change fundamentals. Article Title
• Negative Sentiment: Baird lowered its price target on Coinbase to $142 and flagged weak trading volumes, implying that crypto activity may stay soft for longer than bulls hoped. Article Title
• Negative Sentiment: Bitcoin’s continued selloff and broader crypto weakness are pressuring Coinbase shares by reducing expected trading volume and investor risk appetite. Article Title
• Negative Sentiment: A Coinbase director sold 10,000 shares in a pre-arranged transaction, which can add to cautious sentiment even if it was not a discretionary sale. Article Title

Coinbase Global Stock Performance

Shares of Coinbase Global stock opened at $152.40 on Friday. The stock has a market cap of $40.15 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 5.68 and a beta of 3.32. The firm’s 50-day moving average is $186.06 and its 200 day moving average is $207.59. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. Sell-side analysts anticipate that Coinbase Global, Inc. will post 1.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COIN. Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a report on Wednesday, May 6th. Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Benchmark dropped their target price on shares of Coinbase Global from $267.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Jefferies Financial Group boosted their target price 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $250.23.

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.