6,017 Shares in Coinbase Global, Inc. $COIN Acquired by Independent Financial Group LLC

Independent Financial Group LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the first quarter, Holdings Channel.com reports. The fund acquired 6,017 shares of the cryptocurrency exchange’s stock, valued at approximately $1,051,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC grew its holdings in shares of Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after acquiring an additional 413 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after acquiring an additional 1,761 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Coinbase Global by 9.9% during the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock worth $896,000 after acquiring an additional 467 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Coinbase Global during the second quarter valued at $285,000. Finally, Cerity Partners LLC grew its stake in Coinbase Global by 8.6% in the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after purchasing an additional 1,402 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Activity

In other news, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total value of $346,684.80. Following the transaction, the insider directly owned 84,753 shares in the company, valued at approximately $14,991,110.64. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the business’s stock in a transaction dated 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. This represents a 92.75% 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. Insiders sold 30,627 shares of company stock worth $5,327,841 in the last 90 days. Insiders own 16.66% of the company’s stock.

Analysts Set New Price Targets

COIN has been the topic of several research reports. Robert W. Baird dropped their target price on Coinbase Global from $160.00 to $142.00 and set a “neutral” rating on the stock in a research report on Friday, June 5th. Citizens Jmp reduced their price target on Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. Rothschild & Co Redburn increased their price objective on Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Oppenheimer cut their price objective on shares of Coinbase Global from $224.00 to $209.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, B. Riley Financial reduced their target price on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating for the company in a research note on Monday, June 1st. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Coinbase Global has an average rating of “Hold” and a consensus target price of $245.39.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase vice chair Ryan VanGrack said Senate negotiators added stronger consumer protections to the CLARITY Act, which could improve the odds of crypto market-structure legislation passing and create a more favorable regulatory backdrop for Coinbase. Article: Democrats added certain consumer protection rules to CLARITY: Coinbase exec
• Positive Sentiment: Multiple headlines featured Coinbase CEO Brian Armstrong defending Bitcoin’s long-term durability and dismissing concerns about miners shifting energy use to AI, which can reinforce Coinbase’s image as a leading crypto industry voice. Article: Coinbase CEO Brian Armstrong: Hash Power Doesn’t Determine Bitcoin’s Price
• Neutral Sentiment: Armstrong also said Bitcoin is likely to remain a long-term gauge of inflation fears and commented that stablecoins, not Bitcoin, have best fulfilled Satoshi’s payments vision; this keeps Coinbase in the center of the crypto narrative but is not a direct business catalyst. Article: Coinbase CEO Brian Armstrong Says Bitcoin Will ‘Mostly’ Be a Measure of Inflation Fears in the Long Term
• Neutral Sentiment: Coinbase shares also got a routine lift from broad market movement, with recent coverage noting the stock outperformed a down market session. Article: Coinbase Global, Inc. (COIN) Ascends While Market Falls: Some Facts to Note
• Negative Sentiment: Prediction markets suggested Coinbase’s second-quarter trading volume may come in below analyst expectations, renewing concern that weaker crypto activity could pressure transaction revenue. Article: Coinbase trading results may fall short of expectations, according to prediction markets
• Negative Sentiment: Another piece argued Coinbase’s Base strategy showed the company may be building for an older crypto cycle, hinting at product and strategic execution risks. Article: Coinbase’s big Base mistake offers an important lesson for the crypto industry

Coinbase Global Trading Up 2.1%

Shares of COIN stock opened at $160.43 on Tuesday. Coinbase Global, Inc. has a 12 month low of $139.18 and a 12 month high of $436.38. The company has a market cap of $42.27 billion, a PE ratio of 60.31, a price-to-earnings-growth ratio of 10.14 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. The business’s 50 day moving average is $169.28 and its two-hundred day moving average is $186.24.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Coinbase Global’s quarterly revenue was down 30.5% compared to the same quarter last year. Equities analysts predict that Coinbase Global, Inc. will post 1.41 EPS for the current year.

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.