Tradewinds LLC. Trims Stock Position in Coinbase Global, Inc. $COIN

Tradewinds LLC. lessened its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 95.2% during the first quarter, HoldingsChannel.com reports. The fund owned 1,187 shares of the cryptocurrency exchange’s stock after selling 23,579 shares during the period. Tradewinds LLC.’s holdings in Coinbase Global were worth $227,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of COIN. Palisade Asset Management LLC bought a new position in shares of Coinbase Global in the third quarter worth $29,000. MV Capital Management Inc. bought a new stake in Coinbase Global during the fourth quarter valued at $27,000. Osbon Capital Management LLC bought a new stake in Coinbase Global during the fourth quarter valued at $30,000. JPL Wealth Management LLC purchased a new position in Coinbase Global during the third quarter worth about $49,000. Finally, Brooklands Fund Management Ltd purchased a new position in Coinbase Global during the fourth quarter worth about $34,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Citizens Jmp cut their price objective on Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating for the company in a report on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Coinbase Global in a report on Wednesday, June 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, Zacks Research raised shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $251.79.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total value of $1,250,490.16. Following the transaction, the insider directly owned 517 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value of $346,684.80. Following the completion of the sale, the insider owned 84,753 shares of the company’s stock, valued at $14,991,110.64. The trade was a 2.26% 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. Insiders sold 40,647 shares of company stock worth $7,331,841 over the last quarter. Company insiders own 16.66% of the company’s stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $159.07 on Monday. The company has a 50-day simple moving average of $173.89 and a two-hundred day simple moving average of $189.48. Coinbase Global, Inc. has a 12-month low of $139.18 and a 12-month high of $444.64. The firm has a market cap of $41.91 billion, a price-to-earnings ratio of 59.80, a PEG ratio of 6.10 and a beta of 3.35. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The firm’s quarterly revenue was down 30.5% on a year-over-year basis. On average, equities analysts forecast that Coinbase Global, Inc. will post 1.75 EPS for the current year.

More Coinbase Global News

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

• Positive Sentiment: Coinbase gained sympathy buying after Circle received OCC approval to launch a national trust bank, reinforcing a more constructive regulatory backdrop for crypto-related firms. Coinbase Stock Trades Higher After Circle Receives OCC Approval to Open National Trust Bank
• Positive Sentiment: Citizens JMP raised its price target on Coinbase to $325 and kept an outperform rating, which supports the idea that Wall Street still sees significant upside from current levels. Coinbase Global (NASDAQ:COIN) Given New $325.00 Price Target at Citizens Jmp
• Positive Sentiment: Bitcoin strength and reports of a rising “Coinbase Premium” suggested renewed U.S. crypto demand, which can boost Coinbase trading activity and investor expectations for volume-driven revenue. Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant
• Positive Sentiment: Coinbase also received attention for a UK authorization that could help it expand into a broader “everything exchange” offering, a potential long-term growth catalyst. Coinbase UK License Marks Major Step Toward Bringing ‘Everything Exchange’ to Life
• Neutral Sentiment: Analysts and market commentary continued to highlight Coinbase as a high-profile crypto proxy, keeping the stock in focus for traders, but these pieces were more commentary than fresh fundamental news. Is Trending Stock Coinbase Global, Inc. (COIN) a Buy Now?
• Neutral Sentiment: Coinbase’s chief legal officer, Paul Grewal, is stepping down after a successful tenure, but the company said the transition is orderly and succession plans are already in place. Coinbase restores prediction markets trading after technical issue
• Negative Sentiment: Recent analyst updates were mixed, with Barclays cutting its price target to $99 and maintaining an underweight rating, showing that not all analysts are bullish on the stock’s valuation and earnings outlook. Coinbase Global had its price target lowered by Barclays PLC

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.