Coinbase Global, Inc. $COIN Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management cut its Coinbase stake by 93% in the fourth quarter, selling 32,990 shares and leaving it with 2,500 shares worth about $584,000.
• Coinbase’s latest earnings missed expectations, reporting a loss of $1.49 per share versus the expected profit, while revenue of $1.41 billion also came in below estimates and fell 30.5% year over year.
• Institutional ownership remains high despite the stock’s recent weakness: major holders like Vanguard and Geode added to positions, while analysts are mixed with an overall “Hold” rating and an average target price of about $250.23.

Erste Asset Management GmbH trimmed its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 93.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,500 shares of the cryptocurrency exchange's stock after selling 32,990 shares during the period. Erste Asset Management GmbH's holdings in Coinbase Global were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Coinbase Global by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange's stock valued at $5,970,285,000 after acquiring an additional 184,043 shares during the last quarter. Geode Capital Management LLC grew its stake in Coinbase Global by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange's stock valued at $1,374,080,000 after acquiring an additional 189,080 shares during the last quarter. Norges Bank acquired a new stake in Coinbase Global in the 4th quarter valued at about $656,744,000. Northern Trust Corp grew its stake in Coinbase Global by 5.9% in the 3rd quarter. Northern Trust Corp now owns 1,959,871 shares of the cryptocurrency exchange's stock valued at $661,437,000 after acquiring an additional 108,751 shares during the last quarter. Finally, Capital World Investors grew its stake in Coinbase Global by 847.2% in the 4th quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange's stock valued at $347,472,000 after acquiring an additional 1,374,318 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Down 1.0%

Shares of COIN stock opened at $153.97 on Thursday. Coinbase Global, Inc. has a 1-year low of $139.36 and a 1-year high of $444.64. The firm's 50-day simple moving average is $185.58 and its 200-day simple moving average is $205.18. 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 firm has a market cap of $40.56 billion, a P/E ratio of 57.88, a PEG ratio of 4.95 and a beta of 3.32.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted 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). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the previous year, the business posted $0.24 EPS. The company's quarterly revenue was down 30.5% on a year-over-year basis. As a group, equities analysts forecast that Coinbase Global, Inc. will post 1.93 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total value of $1,250,490.16. Following the completion of the sale, the insider owned 517 shares of the company's stock, valued at $97,718.17. This trade represents a 92.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 10,020 shares of the 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 completion of the sale, the chief financial officer directly owned 377,201 shares of the company's stock, valued at $75,440,200. This trade represents a 2.59% decrease in their position. 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 valued at $7,746,861 in the last three months. 16.66% of the stock is owned by company insiders.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase is featured in Mastercard’s new AI-agent payments push, alongside Ripple and other major crypto firms, which highlights Coinbase’s role in emerging payments infrastructure and could support longer-term growth. Mastercard Taps Coinbase, Ripple and Crypto Firms for AI Agent Payments
• Positive Sentiment: Coinbase executives said institutions, family offices, and sovereign funds are still buying Bitcoin on weakness, signaling durable demand in the crypto market and reinforcing a constructive backdrop for Coinbase’s trading and institutional businesses. Institutional Conviction Remains Strong Despite Bitcoin Downturn, According to Coinbase Executive
• Positive Sentiment: Coinbase continues to expand stablecoin and payments products, including a card concept for users who can’t access traditional credit, which could broaden its customer base and deepen ecosystem usage. Coinbase Card Lets Credit Insecure Customers Use Crypto as Collateral
• Neutral Sentiment: New market-structure developments around Pyth indexes and tokenized 24/7 pricing show the industry is innovating, but the direct impact on Coinbase’s near-term earnings remains unclear. Pyth unveils continuous pricing indexes for US stocks and commodities
• Neutral Sentiment: Coinbase CAO Jennifer Jones sold 2,051 shares under a pre-arranged 10b5-1 plan; the sale is routine, but insider selling can still add some investor caution. Coinbase Global, Inc. CAO Jennifer N. Jones Insider Transaction
• Negative Sentiment: Articles focused on Bitcoin’s recent weakness and skepticism toward Coinbase stock are weighing on sentiment, since COIN remains highly tied to crypto prices and trading activity. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock
• Negative Sentiment: Competitive pressure is also building, with rivals expanding tokenized stock and commodity derivatives offerings in Europe, which could intensify competition in Coinbase-adjacent crypto trading products. OKX expands X-Perps in Europe with Magnificent 7, gold and oil futures

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COIN. Piper Sandler reduced their target price on shares of Coinbase Global from $180.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 8th. BTIG Research reduced their target price on shares of Coinbase Global from $340.00 to $280.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Benchmark cut their price objective on shares of Coinbase Global from $267.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Barclays cut their price objective on shares of Coinbase Global from $140.00 to $107.00 and set an "underweight" rating on the stock in a report on Friday, May 8th. Finally, Citizens Jmp cut their price objective on shares of Coinbase Global from $400.00 to $355.00 and set a "market outperform" rating on the stock in a report on Friday, April 10th. Eighteen equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $250.23.

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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