Coinbase Global, Inc. $COIN Shares Purchased by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. lifted its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,721,198 shares of the cryptocurrency exchange's stock after buying an additional 13,187 shares during the period. Coinbase Global comprises about 4.5% of Amova Asset Management Americas Inc.'s holdings, making the stock its 4th largest position. Amova Asset Management Americas Inc. owned approximately 0.64% of Coinbase Global worth $389,215,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Coinbase Global by 8.3% during the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange's stock worth $8,847,905,000 after buying an additional 2,007,930 shares in the last quarter. North Dakota State Investment Board purchased a new position in Coinbase Global during the fourth quarter worth about $1,626,000. Mizuho Markets Cayman LP purchased a new position in Coinbase Global during the fourth quarter worth about $33,921,000. Harvest Portfolios Group Inc. grew its position in Coinbase Global by 21.7% during the fourth quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange's stock worth $85,159,000 after buying an additional 67,082 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its position in Coinbase Global by 303.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 20,316 shares of the cryptocurrency exchange's stock worth $4,594,000 after buying an additional 15,282 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the transaction, the insider owned 517 shares of the company's stock, valued at $97,718.17. This represents a 92.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 40,597 shares of company stock worth $7,746,861 over the last three months. 16.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on COIN. Monness Crespi & Hardt restated a "sell" rating on shares of Coinbase Global in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on Coinbase Global from $206.00 to $205.00 and set a "buy" rating for the company in a report on Friday, May 8th. Rosenblatt Securities reiterated a "buy" rating and issued a $240.00 price objective on shares of Coinbase Global in a report on Wednesday, May 6th. BTIG Research cut their price objective on Coinbase Global from $340.00 to $280.00 and set a "buy" rating for the company in a report on Friday, February 13th. Finally, Rothschild & Co Redburn upped their price objective on Coinbase Global from $254.00 to $263.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Nineteen 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. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of "Hold" and an average target price of $250.23.

More Coinbase Global News

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 funds are still buying Bitcoin during the selloff, reinforcing the view that long-term crypto demand remains intact and supporting Coinbase’s institutional business. Institutions Don't Mind Scooping Up Bitcoin At A Discount, Says Top Coinbase Exec
• Positive Sentiment: Coinbase is expanding its product set with a new card tied to stablecoin collateral, which could broaden usage and attract customers who cannot access traditional credit cards. Coinbase Card Lets Credit Insecure Customers Use Crypto as Collateral
• Positive Sentiment: Industry momentum around the U.S. Clarity Act could improve the regulatory backdrop for Coinbase and other major crypto firms if lawmakers advance clearer market rules. Over 200 Crypto Groups Urge Senate Clarity Act Vote
• Neutral Sentiment: Reports that OKX is expanding tokenized stock and commodity perpetuals in Europe add competitive noise, but the direct impact on Coinbase’s near-term earnings is unclear. OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures
• Neutral Sentiment: Short-interest data appears broken or incomplete in the feed, so it does not provide a reliable trading signal for investors.
• Negative Sentiment: Coinbase CAO Jennifer N. Jones sold 2,051 shares in a pre-arranged 10b5-1 plan, which may add to investor caution even though the transaction was routine. Coinbase Global, Inc. CAO Jennifer N. Jones Insider Transaction
• Negative Sentiment: Wall Street commentary remains cautious after Bitcoin’s recent weakness, with some articles saying investors are losing faith in COIN as crypto prices fall and valuation risk stays high. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock

Coinbase Global Trading Down 4.1%

Shares of COIN stock opened at $155.50 on Wednesday. The stock has a market capitalization of $40.97 billion, a PE ratio of 58.46, a P/E/G ratio of 5.16 and a beta of 3.32. Coinbase Global, Inc. has a 1-year low of $139.36 and a 1-year high of $444.64. The business has a 50-day moving average of $185.72 and a 200 day moving average of $205.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company's revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 1.93 earnings per share for the current year.

About Coinbase Global

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.

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.