Purpose Unlimited Inc. Takes Position in Coinbase Global, Inc. $COIN

Key Points

• Purpose Unlimited Inc. disclosed a new fourth-quarter position in Coinbase Global, buying 47,899 shares valued at about $10.8 million.
• Coinbase’s latest earnings were weak, with EPS of -$1.49 versus expectations for a small profit and revenue of $1.41 billion, below estimates and down 30.5% year over year.
• Analyst views remain mixed: the stock has a consensus rating of “Hold” with an average price target of $250.65, while insiders have also been selling shares recently.

Purpose Unlimited Inc. bought a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,899 shares of the cryptocurrency exchange's stock, valued at approximately $10,832,000.

Several other hedge funds have also recently modified their holdings of COIN. West Family Investments Inc. increased its stake in Coinbase Global by 3.3% during the 3rd quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange's stock worth $347,000 after buying an additional 33 shares in the last quarter. GW&K Investment Management LLC raised its holdings in shares of Coinbase Global by 32.2% during the third quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange's stock valued at $51,000 after acquiring an additional 37 shares during the last quarter. Bridgewater Advisors Inc. lifted its position in shares of Coinbase Global by 1.2% in the third quarter. Bridgewater Advisors Inc. now owns 3,307 shares of the cryptocurrency exchange's stock valued at $1,116,000 after acquiring an additional 38 shares in the last quarter. Formidable Asset Management LLC boosted its stake in shares of Coinbase Global by 2.2% in the fourth quarter. Formidable Asset Management LLC now owns 2,074 shares of the cryptocurrency exchange's stock worth $469,000 after acquiring an additional 44 shares during the last quarter. Finally, L2 Asset Management LLC boosted its stake in shares of Coinbase Global by 5.0% in the third quarter. L2 Asset Management LLC now owns 965 shares of the cryptocurrency exchange's stock worth $326,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Coinbase Global Stock Performance

NASDAQ COIN opened at $163.26 on Friday. The stock has a fifty day simple moving average of $184.28 and a 200-day simple moving average of $200.91. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $43.01 billion, a PE ratio of 61.38, a P/E/G ratio of 5.76 and a beta of 3.32. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. Coinbase Global's revenue was down 30.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities analysts anticipate that Coinbase Global, Inc. will post 1.74 earnings per share for the current year.

Analyst Ratings Changes

COIN has been the subject of several research reports. Bank of America dropped their price target on Coinbase Global from $288.00 to $234.00 in a research report on Thursday, April 2nd. Citizens Jmp lowered their target price on shares of Coinbase Global from $400.00 to $355.00 and set a "market outperform" rating on the stock in a research note on Friday, April 10th. BTIG Research reaffirmed a "buy" rating and set a $280.00 target price on shares of Coinbase Global in a report on Wednesday. President Capital upped their target price on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $220.00 target price on shares of Coinbase Global in a research report on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $250.65.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $181.54, for a total value of $1,815,400.00. Following the sale, the director owned 30,000 shares of the company's stock, valued at $5,446,200. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 business's 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 directly owned 517 shares in the company, valued at approximately $97,718.17. The trade was a 92.75% 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 90 days, insiders sold 30,647 shares of company stock worth $5,740,941. 16.66% of the stock is owned by company insiders.

Key Coinbase Global News

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

• Positive Sentiment: ARK Invest continued buying Coinbase shares, and Jefferies said Coinbase’s push into tokenized equities and AI could expand its addressable market. Cathie Wood's Ark Invest Sells Robinhood Stock Into 8% Rally, Loads Up On Coinbase And Block
• Positive Sentiment: Coinbase launched tokenized stocks and an AI advisor, reinforcing its move beyond crypto trading into a broader “everything” platform. Coinbase (COIN) Launches Tokenized Stocks And AI Advisor Beyond Crypto
• Positive Sentiment: Coinbase Ventures invested in Multipli through the Base Ecosystem Fund, supporting growth in tokenized assets and institutional credit infrastructure. Coinbase Ventures Invests in Multipli
• Neutral Sentiment: Shareholders re-elected the board and ratified Deloitte as auditor, a routine governance update with limited direct trading impact. Coinbase Shareholders Reelect Board, Ratify Deloitte Auditor
• Neutral Sentiment: Bitcoin-related flows were said to be easing, with Coinbase exchange inflows from mid-sized investors hitting their lowest levels since early April, which may reduce near-term selling pressure on crypto markets. Bitcoin traders expect new lows but data cautions against overly bearish bias
• Negative Sentiment: Kentucky sued Kalshi and Polymarket over alleged illegal sports betting, also naming Coinbase-linked prediction market activity in the legal fight, adding regulatory overhang. Kentucky sues Kalshi, Polymarket, joining prediction market legal battle
• Negative Sentiment: Satori Finance, a Coinbase-backed project, said it will wind down operations due to weak market conditions, another sign of pressure in crypto-related venture activity. Coinbase-Backed Satori Finance Says It Will Wind Down Operations

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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