Coinbase Global, Inc. $COIN Shares Sold by DJE Kapital AG

Key Points

• DJE Kapital AG reduced its Coinbase stake by 10.2% in the fourth quarter, selling 14,945 shares and leaving it with 130,939 shares worth about $30.3 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 68.84% of Coinbase stock. Several firms recently added to or initiated positions, including Vanguard, Harvest Portfolios, and Axxcess Wealth Management.
• Coinbase’s latest earnings disappointed, as the company reported EPS of -$1.49 versus a $0.06 estimate and revenue of $1.41 billion versus $1.49 billion expected; despite that, analysts still have a consensus Hold rating and a $250.23 price target.

DJE Kapital AG cut its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 10.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 130,939 shares of the cryptocurrency exchange's stock after selling 14,945 shares during the period. DJE Kapital AG's holdings in Coinbase Global were worth $30,262,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Coinbase Global by 8.3% in the 3rd 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 during the last quarter. North Dakota State Investment Board acquired a new stake in Coinbase Global in the 4th quarter worth about $1,626,000. Mizuho Markets Cayman LP acquired a new stake in Coinbase Global in the 4th quarter worth about $33,921,000. Harvest Portfolios Group Inc. boosted its holdings in 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 buying an additional 67,082 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Coinbase Global by 303.6% in the 4th 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 during the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Coinbase Global from $226.00 to $228.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Canaccord Genuity Group lowered their price objective on Coinbase Global from $400.00 to $300.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Coinbase Global from $206.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. UBS Group set a $264.00 target price on shares of Coinbase Global in a research note on Friday, February 13th. Finally, Jefferies Financial Group raised their target price on shares of Coinbase Global from $151.00 to $181.00 and gave the stock a "hold" rating in a research note on Thursday, April 9th. Eighteen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Coinbase Global has an average rating of "Hold" and a consensus price target of $250.23.

Coinbase Global Trading Up 4.2%

COIN opened at $160.43 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. The company's 50 day simple moving average is $185.30 and its two-hundred day simple moving average is $204.61. Coinbase Global, Inc. has a 1-year low of $139.36 and a 1-year high of $444.64. The firm has a market capitalization of $42.27 billion, a price-to-earnings ratio of 60.31, a price-to-earnings-growth ratio of 4.90 and a beta of 3.32.

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 the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The firm's quarterly revenue was down 30.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. Analysts expect that Coinbase Global, Inc. will post 1.93 EPS for the current fiscal year.

More Coinbase Global News

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

• Positive Sentiment: Coinbase launched “Coinbase for Agents,” enabling AI assistants to trade crypto and make payments, opening a new potential growth channel for trading and payments activity. Coinbase launches tool to let AI agents manage trading and payments
• Positive Sentiment: MassPay and Coinbase announced a stablecoin payout partnership, which could expand institutional and cross-border payment volume on Coinbase’s rails. MassPay and Coinbase Partner to Bring Stablecoin-Powered Payouts to Businesses Worldwide
• Positive Sentiment: Bernstein said Coinbase could benefit from a World Cup-driven surge in prediction-market activity, pointing to potential user and volume growth. Coinbase eyes World Cup boost as prediction markets surge: Bernstein
• Neutral Sentiment: Coverage of Coinbase CEO Brian Armstrong discussing perpetual approval adds context around crypto market structure, but it is not a clear immediate earnings driver. Coinbase CEO Armstrong Talks About Perpetual Approval: What Comes Next?
• Negative Sentiment: Coinbase CAO Jennifer N. Jones sold shares in a pre-arranged 10b5-1 transaction, which may add a bit of caution even though it was routine. Coinbase Global, Inc. CAO Jennifer N. Jones Insider Transaction
• Negative Sentiment: Some market commentary remains wary as Bitcoin weakness continues to pressure Coinbase sentiment because the stock is highly tied to crypto trading activity and overall digital-asset prices. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock

Insider Activity

In other news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the sale, the chief financial officer owned 377,201 shares of the company's stock, valued at approximately $75,440,200. The trade was a 2.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the sale, the director directly owned 30,000 shares in the company, valued at approximately $5,446,200. The trade was a 25.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 40,597 shares of company stock worth $7,746,861. 16.66% of the stock is owned by company insiders.

Coinbase Global 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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