Greenup Street Wealth Management LLC Acquires Shares of 13,421 Coinbase Global, Inc. $COIN

Key Points

• Greenup Street Wealth Management disclosed a new first-quarter position in Coinbase Global, buying 13,421 shares worth about $2.34 million.
• Institutional ownership in Coinbase remains high, with hedge funds and other institutions holding 68.84% of the stock. Several large funds, including Vanguard and Geode Capital, also increased their stakes recently.
• Coinbase shares were down 5.1% and the company’s latest earnings missed expectations, with EPS of -$1.49 versus a small profit estimate and revenue falling 30.5% year over year.

Greenup Street Wealth Management LLC acquired a new stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,421 shares of the cryptocurrency exchange's stock, valued at approximately $2,343,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 boosted its holdings in shares of Coinbase Global by 3.2% during 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 purchasing an additional 189,080 shares during the last quarter. Paradigm Operations LP boosted its holdings in shares of Coinbase Global by 3.3% during the 4th quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange's stock valued at $963,912,000 after purchasing an additional 134,425 shares during the last quarter. Norges Bank purchased a new position in shares of Coinbase Global during the fourth quarter valued at about $656,744,000. Finally, ARK Investment Management LLC increased its holdings in shares of Coinbase Global by 6.1% in the fourth quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange's stock worth $574,832,000 after purchasing an additional 146,388 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global Stock Down 5.1%

Shares of NASDAQ:COIN opened at $150.10 on Thursday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 12 month low of $139.36 and a 12 month high of $444.64. The company has a 50-day moving average price of $183.52 and a 200 day moving average price of $198.09. The company has a market cap of $39.55 billion, a price-to-earnings ratio of 56.43, a PEG ratio of 5.59 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). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the business posted $0.24 EPS. The company's revenue was down 30.5% on a year-over-year basis. As a group, equities research analysts predict that Coinbase Global, Inc. will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Jennifer N. Jones sold 2,051 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction 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 sale, the insider owned 517 shares in the company, valued at $97,718.17. The trade was 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. Over the last three months, insiders sold 30,647 shares of company stock worth $5,740,941. 16.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COIN shares. JPMorgan Chase & Co. boosted their target price on Coinbase Global from $252.00 to $290.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. BTIG Research reaffirmed a "buy" rating and issued a $280.00 price objective on shares of Coinbase Global in a research note on Wednesday, June 17th. Robert W. Baird reduced their price objective on Coinbase Global from $160.00 to $142.00 and set a "neutral" rating on the stock in a research note on Friday, June 5th. Weiss Ratings raised Coinbase Global from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 29th. Finally, Rothschild & Co Redburn increased their target price on Coinbase Global from $254.00 to $263.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $250.65.

Coinbase Global News Summary

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

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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