Keebeck Wealth Management Lowers Stock Holdings in Coinbase Global, Inc. $COIN

Key Points

• Keebeck Wealth Management sharply reduced its Coinbase stake by 93.2% in the first quarter, selling 18,352 shares and leaving it with 1,330 shares valued at about $232,000.
• Insiders have also been selling stock, including CAO Jennifer N. Jones and insider Paul Grewal, with insiders selling 30,627 shares worth about $5.33 million over the last quarter.
• Analyst views remain mixed but cautious overall: recent target cuts from Piper Sandler, Baird, and Barclays contrast with bullish calls from JPMorgan and Rosenblatt, while the consensus rating sits at Hold.

Keebeck Wealth Management lowered its stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 93.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,330 shares of the cryptocurrency exchange's stock after selling 18,352 shares during the period. Keebeck Wealth Management's holdings in Coinbase Global were worth $232,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Palisade Asset Management LLC acquired a new position in Coinbase Global in the 3rd quarter valued at $29,000. MV Capital Management Inc. acquired a new stake in shares of Coinbase Global in the 4th quarter worth $27,000. Osbon Capital Management LLC acquired a new stake in shares of Coinbase Global in the 4th quarter worth $30,000. JPL Wealth Management LLC acquired a new stake in shares of Coinbase Global in the 3rd quarter worth $49,000. Finally, Brooklands Fund Management Ltd purchased a new stake in shares of Coinbase Global in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In related news, CAO Jennifer N. Jones sold 2,051 shares of the firm'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 value of $324,365.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total value of $346,684.80. Following the transaction, the insider directly owned 84,753 shares of the company's stock, valued at approximately $14,991,110.64. This represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 30,627 shares of company stock worth $5,327,841 over the last quarter. Insiders own 16.66% of the company's stock.

Analyst Ratings Changes

COIN has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Coinbase Global from $170.00 to $155.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 15th. Robert W. Baird reduced their price objective on shares of Coinbase Global from $160.00 to $142.00 and set a "neutral" rating for the company in a research report on Friday, June 5th. JPMorgan Chase & Co. lifted their price objective on Coinbase Global from $252.00 to $290.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Barclays dropped their target price on Coinbase Global from $107.00 to $99.00 and set an "underweight" rating on the stock in a research report on Thursday, July 9th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $240.00 target price on shares of Coinbase Global in a research note on Wednesday, June 17th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $239.14.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Coinbase unveiled new AI-agent payment infrastructure for business accounts, including support for USDC payments, automated trading tools, and a developer SDK. That reinforces the company’s push into stablecoin and AI-enabled payments, which could open new revenue streams. Coinbase Unveils AI Agent Payment Infrastructure for Business Accounts
• Positive Sentiment: Coinbase is expanding in Singapore, with plans to grow headcount and deepen its institutional and engineering presence in the region. Investors may view the move as evidence of international growth beyond the U.S. market. Coinbase to expand Singapore office headcount by 25%: report
• Positive Sentiment: Coinbase also participated in the launch of the Bitcoin Security Consortium alongside firms like BlackRock and Block, which may be seen as a credibility boost for the company’s role in crypto infrastructure. BlackRock, Coinbase, Strategy Among Nine Firms Launching the Bitcoin Security Consortium
• Neutral Sentiment: Raymond James began coverage on Coinbase Global, adding another analyst voice to the name, but the article provided no new rating or thesis details. Raymond James Financial Begins Coverage on Coinbase Global NASDAQ: COIN
• Neutral Sentiment: Some commentary suggests Coinbase could benefit even if the CLARITY Act stalls, since clearer crypto rules and broader market adoption still support the platform’s long-term business case. How Coinbase stock could win even if the Clarity Act loses
• Negative Sentiment: Near-term investor sentiment is being weighed down by uncertainty around U.S. crypto legislation, with reports saying the Senate CLARITY Act faces political roadblocks and analysts have cut price targets ahead of earnings. That likely explains some of the weakness in Coinbase Global (COIN) shares today. Coinbase (COIN) Stock Drops 3% Amid Senate Crypto Bill Uncertainty
• Negative Sentiment: Citi lowered its price target on Coinbase from $400 to $235, echoing earlier cuts from JPMorgan. Even with a bullish rating, the reduced valuation can pressure sentiment ahead of the company’s upcoming earnings report. Analyst cuts Coinbase price target 40% ahead of Q2 earnings
• Negative Sentiment: Coinbase disclosed a 50-minute outage caused by a configuration error that disrupted transfers, debit card purchases, and onchain services. Operational hiccups like this can hurt confidence in the platform’s reliability. Coinbase Reveals How One Configuration Error Triggered a 50-Minute Outage

Coinbase Global Stock Down 1.8%

Shares of NASDAQ COIN opened at $158.29 on Friday. The stock has a market capitalization of $41.70 billion, a price-to-earnings ratio of 59.51, a price-to-earnings-growth ratio of 10.19 and a beta of 3.35. Coinbase Global, Inc. has a 52 week low of $139.18 and a 52 week high of $402.16. The firm has a 50-day moving average price of $166.18 and a 200 day moving average price of $184.75. 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 (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share 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 for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company's quarterly revenue was down 30.5% compared to the same quarter last year. Equities research analysts anticipate that Coinbase Global, Inc. will post 1.42 EPS for the current fiscal year.

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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