5,600 Shares in Coinbase Global, Inc. $COIN Acquired by ABN AMRO Bank N.V.

Key Points

• ABN AMRO Bank N.V. opened a new position in Coinbase Global, buying 5,600 shares in the fourth quarter worth about $1.28 million.
• Coinbase also saw mixed institutional and insider activity: hedge funds continue to own a large majority of the stock, while CFO Alesia J. Haas sold 10,020 shares in a pre-arranged Rule 10b5-1 transaction.
• The company is facing a blend of positive regulatory and product developments and negative earnings momentum, including support for tokenization on Base, but also analyst price-target cuts and a recent quarterly loss with revenue down 30.5% year over year.

ABN AMRO Bank N.V. bought a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,600 shares of the cryptocurrency exchange's stock, valued at approximately $1,282,000.

A number of other large investors also recently bought and sold shares of COIN. REAP Financial Group LLC acquired a new stake in Coinbase Global during the third quarter worth about $25,000. Palisade Asset Management LLC acquired a new position in shares of Coinbase Global in the 3rd quarter valued at about $29,000. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter worth about $35,000. Cloud Capital Management LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter worth about $36,000. Finally, Stephens Consulting LLC increased its position in Coinbase Global by 99.0% during the 4th quarter. Stephens Consulting LLC now owns 201 shares of the cryptocurrency exchange's stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase backed Centrifuge’s tokenization rollout on Base with a multimillion-dollar investment, signaling continued support for expanding real-world asset activity on its Layer-2 network. Coinbase Backs Centrifuge Tokenization Rollout on Base
• Positive Sentiment: Bitcoin hovering near key levels keeps attention on the broader crypto market, which can lift Coinbase sentiment because trading activity on the platform is closely tied to crypto prices and volumes. Bitcoin Stalls Near $80,000, But These 6 Factors Could Change That Soon
• Neutral Sentiment: Coverage of the CLARITY Act suggests the crypto market structure bill could advance if more Senate Democrats support it, which would be a long-term positive for Coinbase if it improves regulatory clarity. 7 Democrats seen as ‘key’ to advancing CLARITY Act: Galaxy
• Neutral Sentiment: Coinbase, Kraken, and Gemini are pushing back on proposed Senate listing rules, indicating the regulatory debate is still unresolved and could affect exchange operations and token listings. Coinbase, Kraken & Gemini Push Back on Senate Crypto Listing Rules
• Negative Sentiment: Several analysts lowered price targets on Coinbase, including Robert W. Baird, Deutsche Bank, Oppenheimer, and Monness Crespi & Hardt, reflecting caution after recent operating trends. Robert W. Baird Lowers Coinbase Global Price Target to $160.00
• Negative Sentiment: Recent commentary also highlighted Coinbase’s revenue decline and weaker earnings results, which continue to weigh on investor confidence despite the stock’s recent rebound. Coinbase Global Stock Up 7.7%

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the sale, the chief financial officer directly owned 377,201 shares of the company's stock, valued at approximately $75,440,200. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,990 shares of company stock worth $6,013,920 in the last three months. 16.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Compass Point reduced their price target on shares of Coinbase Global from $190.00 to $140.00 and set a "sell" rating on the stock in a research report on Friday, February 20th. Bank of America dropped their price objective on shares of Coinbase Global from $288.00 to $234.00 in a research report on Thursday, April 2nd. The Goldman Sachs Group raised their target price on shares of Coinbase Global from $225.00 to $231.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. China Renaissance reduced their target price on shares of Coinbase Global from $301.50 to $223.20 and set a "buy" rating on the stock in a report on Monday, February 23rd. Finally, Jefferies Financial Group increased their price target on Coinbase Global from $151.00 to $181.00 and gave the company a "hold" rating in a report on Thursday, April 9th. Nineteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $250.04.

Coinbase Global Price Performance

Shares of COIN stock opened at $216.60 on Tuesday. The firm has a fifty day simple moving average of $190.10 and a 200-day simple moving average of $225.06. The company has a market capitalization of $57.20 billion, a PE ratio of 81.43, a price-to-earnings-growth ratio of 4.54 and a beta of 3.38. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.40.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results 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). Coinbase Global had a return on equity of 4.06% and a net margin of 12.20%.The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the firm earned $0.24 EPS. The business's quarterly revenue was down 30.5% on a year-over-year basis. Equities research analysts anticipate that Coinbase Global, Inc. will post 2.78 earnings per share for the current fiscal 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.

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