Coinbase Global (NASDAQ:COIN) CAO Sells $324,365.65 in Stock

Key Points

• Coinbase CAO Jennifer Jones sold 2,051 shares on June 5 at an average price of $158.15, totaling about $324,365.65. The sale was made under a pre-arranged Rule 10b5-1 plan.
• COIN shares were down to $155.50 in Tuesday trading, and the stock remains well below its 50-day and 200-day moving averages. The company also has high volatility, with a beta of 3.32.
• Coinbase’s latest earnings disappointed, with a quarterly loss of $1.49 per share versus expectations for a profit and revenue of $1.41 billion below estimates. Analysts still project the company to earn $1.77 per share for the current fiscal year.

Coinbase Global, Inc. (NASDAQ:COIN) CAO Jennifer Jones sold 2,051 shares of the firm's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Price Performance

Shares of COIN stock traded down $6.61 on Tuesday, reaching $155.50. The company's stock had a trading volume of 8,845,303 shares, compared to its average volume of 11,336,494. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of 58.46, a price-to-earnings-growth ratio of 5.28 and a beta of 3.32. The stock's fifty day simple moving average is $185.83 and its 200-day simple moving average is $206.49. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The firm's quarterly revenue was down 30.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. Analysts forecast that Coinbase Global, Inc. will post 1.77 earnings per share for the current fiscal year.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase executive John D’Agostino said institutional investors, family offices, and sovereign wealth funds are happy to buy Bitcoin at lower prices, suggesting large buyers are still accumulating during the downturn. Institutions Don't Mind Scooping Up Bitcoin At A Discount, Says Top Coinbase Exec
• Positive Sentiment: Coinbase is reportedly launching a payment card with Cardless that would let stablecoin holders use crypto as collateral, expanding the company’s product set and potentially opening a new revenue stream. Coinbase Card Lets Credit Insecure Customers Use Crypto as Collateral
• Positive Sentiment: Industry momentum around the Clarity Act and other U.S. crypto market-structure bills could benefit Coinbase by improving the regulatory backdrop for trading and derivatives. Over 200 Crypto Groups Urge Senate Clarity Act Vote
• Neutral Sentiment: OKX expanded tokenized stock and commodity perpetuals in Europe, highlighting rising competition in regulated crypto derivatives, an area Coinbase is also trying to grow into. OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures
• Neutral Sentiment: Short-interest data showed no meaningful change in positioning, with the reported figures appearing inconsistent and unlikely to be a major trading driver.
• Negative Sentiment: Coinbase’s stock remains sensitive to Bitcoin’s weakness and broader crypto risk-off trading, which has pressured sentiment across crypto-linked equities.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COIN. Zacks Research upgraded Coinbase Global from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. Sanford C. Bernstein lowered their price target on Coinbase Global from $440.00 to $330.00 and set an "outperform" rating for the company in a research report on Monday, March 30th. Weiss Ratings upgraded Coinbase Global from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft lowered their price target on Coinbase Global from $206.00 to $205.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Finally, The Goldman Sachs Group raised their price target on Coinbase Global from $226.00 to $228.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Nineteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $250.23.

Institutional Trading of Coinbase Global

Several institutional investors and hedge funds have recently made changes to their positions in COIN. Integrated Wealth Concepts LLC lifted its position in shares of Coinbase Global by 24.2% during the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange's stock worth $365,000 after purchasing an additional 413 shares during the last quarter. Empowered Funds LLC lifted its position 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 purchasing an additional 1,761 shares during the last quarter. Focus Partners Wealth lifted its position 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 purchasing an additional 467 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Coinbase Global during the second quarter worth $285,000. Finally, Cerity Partners LLC raised its holdings in shares of 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 acquiring an additional 1,402 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors.

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.

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