Coinbase Global, Inc. $COIN is Paradigm Operations LP's Largest Position

Key Points

• Paradigm Operations LP increased its Coinbase stake by 3.3% in the fourth quarter, making COIN its largest position at 71% of the portfolio. The fund now owns 4.26 million shares worth about $964 million.
• Coinbase has seen ongoing activity from other institutions, with hedge funds collectively owning 68.84% of the stock. Meanwhile, insiders have been selling shares recently, including CFO Alesia J. Haas and CAO Jennifer N. Jones.
• Analysts remain mixed on Coinbase: several firms raised price targets, but the consensus rating is still Hold with a target of $250.23. The company also recently reported weaker-than-expected earnings, with quarterly EPS of -$1.49 and revenue down 30.5% year over year.

Paradigm Operations LP boosted its position in Coinbase Global, Inc. (NASDAQ:COIN) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,262,458 shares of the cryptocurrency exchange's stock after purchasing an additional 134,425 shares during the period. Coinbase Global comprises 71.0% of Paradigm Operations LP's investment portfolio, making the stock its biggest position. Paradigm Operations LP owned approximately 1.58% of Coinbase Global worth $963,912,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new position in Coinbase Global during the third quarter worth $29,000. Brooklands Fund Management Ltd purchased a new position in Coinbase Global during the fourth quarter worth $34,000. Foster Dykema Cabot & Partners LLC purchased a new position in Coinbase Global during the third quarter worth $35,000. Stephens Consulting LLC increased its position in Coinbase Global by 99.0% during the fourth quarter. Stephens Consulting LLC now owns 201 shares of the cryptocurrency exchange's stock worth $45,000 after buying an additional 100 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID increased its position in 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 buying an additional 182 shares in the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Coinbase Global

In related news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the transaction, the chief financial officer owned 377,201 shares in the company, valued at approximately $75,440,200. This trade represents 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction on Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. 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 have sold 30,647 shares of company stock valued at $5,740,941 in the last ninety days. Company insiders own 16.66% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on COIN. Deutsche Bank Aktiengesellschaft dropped 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. President Capital raised their price target on Coinbase Global from $236.00 to $264.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. raised their price target on Coinbase Global from $252.00 to $290.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Compass Point reissued a "sell" rating on shares of Coinbase Global in a research report on Monday, June 1st. Finally, Rothschild & Co Redburn raised their price target on Coinbase Global from $254.00 to $263.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Eighteen investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $250.23.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $169.27 on Wednesday. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64. The stock has a market capitalization of $44.60 billion, a P/E ratio of 63.64, a PEG ratio of 5.40 and a beta of 3.32. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The business's fifty day moving average price is $184.95 and its 200 day moving average price is $202.67.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results 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 net margin of 12.20% and a return on equity of 4.16%. 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 business posted $0.24 EPS. Coinbase Global's revenue was down 30.5% compared to the same quarter last year. As a group, research analysts anticipate that Coinbase Global, Inc. will post 1.93 earnings per share for the current year.

More Coinbase Global News

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

• Positive Sentiment: Coinbase teamed up with MassPay to streamline global payments using stablecoins, highlighting growing real-world use cases for its crypto infrastructure. Coinbase Teams Up with MassPay to Streamline Global Payments Using Stablecoins
• Positive Sentiment: The company launched AI tools and “agentic trading” features that can provide investment ideas and execute trades within user-defined limits, which could broaden engagement and trading activity. Coinbase is launching AI tools that give investment advice and make trades on your behalf
• Positive Sentiment: Coinbase expanded into prediction markets and derivatives, and added more tokenized equity offerings, signaling a faster move into higher-growth trading products. Coinbase Expands Into Agentic Trading, New Prediction Markets Contracts And Derivatives
• Positive Sentiment: Coinbase is allowing users to transfer stock portfolios onto its platform, another sign it is trying to become a full-service brokerage-like venue rather than only a crypto exchange. Coinbase lets users transfer stock portfolios as exchange expands beyond crypto
• Positive Sentiment: Coverage around tokenized U.S. stocks suggests investor enthusiasm for Coinbase’s push into on-chain equities, which could create a new revenue stream and draw more attention to the stock. Coinbase Launches Real Tokenized Stocks, Robinhood, Kraken Race To Follow
• Neutral Sentiment: Brian Armstrong’s comments on tokenized stocks and opening U.S. equity access to global investors keep Coinbase in the spotlight, but are more explanatory than immediately material. Coinbase CEO on tokenized stock launch: Opens US equity access to global investors
• Neutral Sentiment: Several articles noted that COIN is a trending stock and that Bitcoin sentiment has improved, but these are mostly sentiment/market-interest indicators rather than direct catalysts. Coinbase Global, Inc. (COIN) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Broader commentary still points to valuation concerns and earlier weakness in Coinbase shares, which may limit upside if the new product launches do not quickly translate into revenue. Coinbase (COIN) Stock Valuation After AI Agents Launch And New Trust Charter Approval

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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