Securian Asset Management Inc. Sells 4,736 Shares of Coinbase Global, Inc. $COIN

Securian Asset Management Inc. trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 43.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,147 shares of the cryptocurrency exchange’s stock after selling 4,736 shares during the quarter. Securian Asset Management Inc.’s holdings in Coinbase Global were worth $1,390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. ABN AMRO Bank N.V. bought a new position in shares of Coinbase Global during the fourth quarter worth $1,282,000. EWA LLC raised its holdings in shares of Coinbase Global by 5.8% during the fourth quarter. EWA LLC now owns 1,306 shares of the cryptocurrency exchange’s stock worth $295,000 after acquiring an additional 72 shares during the period. NewEdge Wealth LLC acquired a new stake in shares of Coinbase Global during the fourth quarter worth $228,000. Legacy Wealth Managment LLC ID raised its holdings in shares of Coinbase Global by 728.0% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 207 shares of the cryptocurrency exchange’s stock worth $47,000 after acquiring an additional 182 shares during the period. Finally, F m Investments LLC acquired a new stake in shares of Coinbase Global during the fourth quarter worth $1,192,000. 68.84% of the stock is owned by institutional investors.

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 10,020 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the transaction, the chief financial officer directly owned 397,171 shares in the company, valued at $79,434,200. The trade was a 2.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 29,990 shares of company stock worth $6,013,920. 16.66% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Piper Sandler dropped their price objective on shares of Coinbase Global from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday. Robert W. Baird dropped their price objective 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 objective on shares of Coinbase Global in a report on Friday, February 13th. The Goldman Sachs Group raised their price objective on shares of Coinbase Global from $225.00 to $231.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Bank of America dropped their price objective on shares of Coinbase Global from $288.00 to $234.00 in a report on Thursday, April 2nd. Nineteen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $251.91.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase added Solana (SOL) to its crypto-backed loans offering, expanding its lending product and potentially boosting user engagement and asset utility. Coinbase and Morpho Unveil Solana-Backed Loans
• Positive Sentiment: President Capital raised its price target on Coinbase to $264 and reiterated a buy rating, signaling confidence in upside from current levels.
• Positive Sentiment: HC Wainwright and other firms maintained buy ratings despite trimming estimates, while Needham reiterated a buy rating with a $300 target, reinforcing a broadly constructive Wall Street view.
• Positive Sentiment: Coinbase continues to benefit from progress on broader crypto market infrastructure, including CME’s move toward 24/7 crypto futures trading and Senate debate over the CLARITY Act, both of which could support long-term adoption.

Coinbase Global Stock Down 4.1%

Coinbase Global stock opened at $207.64 on Wednesday. The firm has a market capitalization of $54.83 billion, a PE ratio of 78.06, a P/E/G ratio of 5.77 and a beta of 3.38. The company’s 50-day moving average is $190.74 and its 200-day moving average is $224.26. Coinbase Global, Inc. has a fifty-two week low of $139.36 and a fifty-two week high of $444.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The firm’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Sell-side analysts anticipate that Coinbase Global, Inc. will post 2.58 earnings per share for the current year.

Coinbase Global Company 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.