Coinbase Global, Inc. $COIN Shares Purchased by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV raised its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 150.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,465 shares of the cryptocurrency exchange’s stock after acquiring an additional 15,306 shares during the period. Coinbase Global makes up 1.6% of Townsend Asset Management Corp NC ADV’s portfolio, making the stock its 19th biggest position. Townsend Asset Management Corp NC ADV’s holdings in Coinbase Global were worth $4,446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. Bessemer Group Inc. lifted its stake in shares of Coinbase Global by 158.7% in the 1st quarter. Bessemer Group Inc. now owns 4,328 shares of the cryptocurrency exchange’s stock valued at $755,000 after purchasing an additional 2,655 shares in the last quarter. Independent Financial Group LLC acquired a new stake in Coinbase Global during the 1st quarter worth approximately $1,051,000. D.A. Davidson & CO. raised its holdings in Coinbase Global by 28.7% in the first quarter. D.A. Davidson & CO. now owns 28,230 shares of the cryptocurrency exchange’s stock valued at $4,929,000 after buying an additional 6,298 shares during the period. Blackhawk Capital Partners LLC raised its holdings in Coinbase Global by 79.3% in the first quarter. Blackhawk Capital Partners LLC now owns 8,737 shares of the cryptocurrency exchange’s stock valued at $1,526,000 after buying an additional 3,863 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Coinbase Global by 31.9% during the first quarter. Geneos Wealth Management Inc. now owns 2,204 shares of the cryptocurrency exchange’s stock valued at $385,000 after buying an additional 533 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the sale, the insider owned 517 shares of the company’s stock, valued at $97,718.17. The trade was a 92.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,627 shares of company stock valued at $5,327,841 over the last ninety days. 16.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

COIN has been the subject of several research reports. Jefferies Financial Group boosted their price objective on shares of Coinbase Global from $151.00 to $181.00 and gave the stock a “hold” rating in a research note on Thursday, April 9th. Wedbush set a $224.00 target price on shares of Coinbase Global in a research note on Friday, May 8th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Coinbase Global in a report on Wednesday, June 17th. Oppenheimer decreased their price target on shares of Coinbase Global from $224.00 to $209.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Wolfe Research set a $325.00 price target on Coinbase Global in a report on Thursday, July 9th. Eighteen 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’s stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and an average price target of $245.39.

Coinbase Global Stock Down 2.1%

NASDAQ COIN opened at $157.12 on Friday. The stock has a market cap of $41.39 billion, a PE ratio of 59.07, a P/E/G ratio of 10.22 and a beta of 3.35. Coinbase Global, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $444.64. The business has a 50 day moving average price of $170.41 and a two-hundred day moving average price of $187.07. 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 issued its quarterly earnings data 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 firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The firm’s revenue was down 30.5% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 1.43 EPS for the current fiscal year.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase continues to benefit from progress on U.S. crypto regulation, including movement on the CLARITY Act and supportive comments from Coinbase policy leaders, which could improve long-term market structure and expand institutional adoption. Coinbase Policy Chief Calls CLARITY Act a ‘Dramatic Advance’: Here’s What Comes Next in the Senate
• Positive Sentiment: JPMorgan kept an Overweight rating on Coinbase even while cutting its price target, signaling that Wall Street still sees upside potential despite the pullback in expectations. JPMorgan slashes Coinbase price target
• Positive Sentiment: Coinbase joined a large stablecoin alliance and remains seen as a key player in new crypto payment and infrastructure initiatives, which could support future growth beyond spot trading. Coinbase Just Joined a 140-Company Stablecoin Alliance. Here’s What It Means for the Stock.

Coinbase Global Profile

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.