Coinbase Global, Inc. $COIN Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S sharply reduced its Coinbase stake in the first quarter, selling 40,192 shares and cutting its holdings by 86.3% to 6,391 shares valued at about $1.12 million.
• Coinbase’s latest quarterly results were weak, with EPS of -$1.49 versus the expected $0.06 and revenue of $1.41 billion, below analyst estimates and down 30.5% year over year.
• Analysts remain mixed on the stock: the consensus rating is Hold with a consensus target price of $250.65, while several firms recently adjusted price targets and ratings on the shares.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 86.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,391 shares of the cryptocurrency exchange's stock after selling 40,192 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Coinbase Global were worth $1,116,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. North Dakota State Investment Board acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $1,626,000. Mizuho Markets Cayman LP acquired a new stake in shares of Coinbase Global in the 4th quarter worth $33,921,000. Harvest Portfolios Group Inc. increased its stake in shares of Coinbase Global by 21.7% in the 4th quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange's stock worth $85,159,000 after acquiring an additional 67,082 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Coinbase Global by 303.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 20,316 shares of the cryptocurrency exchange's stock worth $4,594,000 after acquiring an additional 15,282 shares during the period. Finally, Artisan Partners Limited Partnership purchased a new position in shares of Coinbase Global during the 3rd quarter worth $224,663,000. Institutional investors and hedge funds own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

COIN has been the subject of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of Coinbase Global from $151.00 to $181.00 and gave the company a "hold" rating in a report on Thursday, April 9th. President Capital upped their price target on Coinbase Global from $236.00 to $264.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. B. Riley Financial lowered their price target on Coinbase Global from $243.00 to $203.00 and set a "neutral" rating for the company in a report on Monday, June 1st. The Goldman Sachs Group raised their price objective on Coinbase Global from $226.00 to $228.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Finally, Weiss Ratings upgraded shares of Coinbase Global from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 29th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $250.65.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $150.10 on Thursday. The company has a fifty day simple moving average of $183.52 and a two-hundred day simple moving average of $198.09. The company has a market cap of $39.55 billion, a price-to-earnings ratio of 56.43, a price-to-earnings-growth ratio of 5.59 and a beta of 3.32. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 52 week low of $139.36 and a 52 week high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings data 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 net margin of 12.20% and a return on equity of 4.16%. The company 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 earnings per share. The firm's revenue was down 30.5% on a year-over-year basis. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 1.74 earnings per share for the current fiscal year.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase’s launch of pre-IPO perpetual futures tied to private AI names like OpenAI and Anthropic is seen as a potentially high-margin expansion beyond spot crypto trading. Coinbase Is Offering Pre-IPO Perpetual Futures on OpenAI and Anthropic. That’s Better News for COIN Stock Than It Is for You.
• Positive Sentiment: Analyst commentary is highlighting significant upside if crypto markets recover, with some models suggesting COIN could rebound sharply from current levels. Coinbase Could Jump 65% as Crypto Recovery Unfolds
• Neutral Sentiment: Coinbase-backed political efforts are benefiting from crypto-friendly primary wins, which may improve the regulatory backdrop over time, but the effect on near-term earnings is uncertain. Crypto-backed candidates notch wins in three US state primaries
• Neutral Sentiment: Investors are watching the upcoming CLARITY Act hearing on July 17, which could reshape U.S. crypto regulation and potentially benefit Coinbase if clearer rules emerge. Dear Coinbase Stock Fans, Mark Your Calendars for July 17
• Negative Sentiment: Bitcoin’s 30% drop from recent highs is weighing on Coinbase because the stock is closely tied to crypto trading volumes and market sentiment. Coinbase vs. Strategy: Which Bitcoin-Related Stock Is Worth the Risk?
• Negative Sentiment: Recent coverage also points to persistent weakness after Coinbase’s latest earnings and the market’s concern that lower crypto prices could continue to pressure transaction revenue. Here's Why Coinbase Global, Inc. (COIN) Fell More Than Broader Market

Insider Activity

In related news, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value of $346,684.80. Following the completion of the transaction, the insider owned 84,753 shares in the company, valued at $14,991,110.64. The trade was a 2.26% decrease in their ownership of the stock. The sale 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. Also, insider Lawrence J. Brock sold 6,616 shares of the business'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 transaction, the insider owned 517 shares of the company's stock, valued at $97,718.17. This trade represents a 92.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 30,647 shares of company stock valued at $5,740,941. 16.66% of the stock is owned by corporate insiders.

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.

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