Frederick Wilson Sells 10,000 Shares of Coinbase Global (NASDAQ:COIN) Stock

by · The Cerbat Gem

Coinbase Global, Inc. (NASDAQ:COIN) Director Frederick Wilson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $178.93, for a total transaction of $1,789,300.00. The sale 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.

Coinbase Global Price Performance

Shares of COIN traded up $17.74 during trading hours on Thursday, reaching $192.70. 13,699,685 shares of the stock traded hands, compared to its average volume of 10,321,546. The company has a market cap of $50.84 billion, a P/E ratio of -50.18 and a beta of 3.39. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $161.76 and its two-hundred day moving average price is $175.26. Coinbase Global, Inc. has a 52-week low of $139.11 and a 52-week high of $402.16.

Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.14 EPS. On average, analysts anticipate that Coinbase Global, Inc. will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Coinbase Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Archer Investment Corp bought a new position in shares of Coinbase Global during the 2nd quarter valued at approximately $26,000. MV Capital Management Inc. purchased a new stake in shares of Coinbase Global in the fourth quarter valued at $27,000. Palisade Asset Management LLC purchased a new stake in shares of Coinbase Global in the third quarter valued at $29,000. Osbon Capital Management LLC bought a new stake in shares of Coinbase Global in the 4th quarter worth about $30,000. Finally, Glen Eagle Advisors LLC lifted its holdings in shares of Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after acquiring an additional 88 shares during the last quarter. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Coinbase Global News Summary

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

  • Positive Sentiment: Crypto market rebound lifts COIN: Coinbase, Circle and MicroStrategy rallied as higher cryptocurrency prices boosted risk appetite and expectations for increased trading volumes. Coinbase, Circle, MicroStrategy stocks surge on crypto rebound
  • Positive Sentiment: U.S. crypto-policy optimism: Investors are anticipating progress toward federal crypto market-structure legislation, including a scheduled Senate procedural vote later in September. Clearer rules could benefit Coinbase as a regulated, U.S.-based platform. Coinbase Stock Surges Thursday: What’s Happening?
  • Positive Sentiment: Canadian derivatives launch expands growth opportunities: Coinbase introduced regulated perpetual and dated crypto futures for eligible Canadian customers, potentially broadening its trading pool, diversifying revenue and advancing its “everything exchange” strategy. Coinbase launches regulated crypto derivatives in Canada
  • Positive Sentiment: Growth narrative remains active: Recent company updates highlighted record crypto trading-volume market share, tokenized-stock activity, Coinbase-powered token-backed mortgages and expanded Canadian distribution through Webull. These initiatives could reduce reliance on spot crypto trading over time. The Bull Case For Coinbase Global
  • Neutral Sentiment: Board and investor-relations updates: Coinbase added Anthony Armstrong, described as an Elon Musk ally and former Morgan Stanley banker, to its board. CFO Alesia Haas and other executives are also scheduled to speak at Citi and Goldman Sachs technology conferences, which may provide additional strategy or outlook commentary. Coinbase Global appoints Anthony Armstrong to board
  • Neutral Sentiment: Founder-related Venezuela report: A firm associated with Coinbase co-founder Fred Ehrsam is reportedly pursuing Venezuelan oil fields, but Coinbase is not identified as a bidder and no agreement has been confirmed. The development therefore has limited direct impact on COIN. Coinbase Co-Founder’s Firm Primavera Pursues Venezuelan Oil Fields
  • Negative Sentiment: Sell-rating and insider-selling risks: Zacks added COIN to its Rank #5 “Strong Sell” list, while reported insider activity showed sales without purchases over the past six months. These signals could temper enthusiasm if crypto momentum fades. New Strong Sell Stocks for September 3rd

Wall Street Analyst Weigh In

A number of research analysts recently commented on COIN shares. Wedbush set a $224.00 price target on Coinbase Global in a report on Friday, May 8th. Benchmark reduced their price objective on shares of Coinbase Global from $270.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. BTIG Research lowered their target price on shares of Coinbase Global from $260.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Wolfe Research set a $325.00 price objective on shares of Coinbase Global in a report on Thursday, July 9th. Finally, Weiss Ratings cut Coinbase Global from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $216.87.

View Our Latest Research Report on Coinbase Global

Coinbase Global Company Profile

(Get Free Report)

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.

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