Geode Capital Management LLC Buys 189,080 Shares of Coinbase Global, Inc. $COIN

Geode Capital Management LLC boosted its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,098,062 shares of the cryptocurrency exchange’s stock after purchasing an additional 189,080 shares during the period. Geode Capital Management LLC’s holdings in Coinbase Global were worth $1,374,080,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. West Family Investments Inc. grew its position in Coinbase Global by 3.3% in the 3rd quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange’s stock worth $347,000 after purchasing an additional 33 shares during the period. Waterfront Wealth Inc. grew its position in Coinbase Global by 4.8% in the 3rd quarter. Waterfront Wealth Inc. now owns 760 shares of the cryptocurrency exchange’s stock worth $241,000 after purchasing an additional 35 shares during the period. Howard Capital Management Inc. grew its position in Coinbase Global by 2.9% in the 3rd quarter. Howard Capital Management Inc. now owns 1,284 shares of the cryptocurrency exchange’s stock worth $433,000 after purchasing an additional 36 shares during the period. GW&K Investment Management LLC grew its position in Coinbase Global by 32.2% in the 3rd quarter. GW&K Investment Management LLC now owns 152 shares of the cryptocurrency exchange’s stock worth $51,000 after purchasing an additional 37 shares during the period. Finally, Bridgewater Advisors Inc. grew its position in Coinbase Global by 1.2% in the 3rd quarter. Bridgewater Advisors Inc. now owns 3,307 shares of the cryptocurrency exchange’s stock worth $1,116,000 after purchasing an additional 38 shares during the period. Institutional investors own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research analyst reports. Wedbush set a $224.00 target price on shares of Coinbase Global in a research report on Friday, May 8th. Rothschild & Co Redburn lifted their target price on shares of Coinbase Global from $254.00 to $263.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. lifted their target price on shares of Coinbase Global from $252.00 to $290.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Finally, Benchmark dropped their price target on shares of Coinbase Global from $267.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Nineteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $252.10.

Coinbase Global Trading Up 4.9%

Shares of Coinbase Global stock opened at $182.25 on Friday. The company’s fifty day simple moving average is $188.86 and its 200-day simple moving average is $212.34. The stock has a market capitalization of $48.02 billion, a PE ratio of 68.52, a P/E/G ratio of 6.13 and a beta of 3.38. Coinbase Global, Inc. has a 1-year low of $139.36 and a 1-year high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.34.

Coinbase Global (NASDAQ:COIN) last issued its quarterly 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). The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company’s revenue was down 30.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. As a group, equities analysts anticipate that Coinbase Global, Inc. will post 1.74 earnings per share for the current year.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: Coinbase expanded its institutional fiat infrastructure through a partnership with Standard Chartered, adding multi-currency funding and settlement rails for AUD, SGD, CAD, CHF, EUR and GBP. This could make it easier for global institutions to move money onto and off the platform, supporting trading volumes and Coinbase’s international growth. Coinbase, Standard Chartered Partner to Add 6 Currency Access
• Positive Sentiment: Coinbase’s Base network launched an AI-focused wallet integration tool that lets assistants like ChatGPT and Claude interact with crypto wallets and execute on-chain actions. Investors may view this as a new growth avenue tied to AI-enabled crypto usage. Base launches new tool to connect crypto wallets to AI agents
• Positive Sentiment: CEO Brian Armstrong said Coinbase’s new Direct Deposit feature is live, allowing users to route part of their paycheck directly into crypto purchases. That could improve customer engagement and make recurring buying easier. Brian Armstrong Says You Can Now Route Your Paycheck Directly To Coinbase For Automatic Crypto Investments
• Positive Sentiment: Goldman Sachs raised its price target on Coinbase and kept a buy rating, reinforcing the view that analysts still see meaningful upside from current levels. Goldman Sachs adjusts price target on Coinbase Global
• Neutral Sentiment: Some market commentary says Coinbase may still be range-bound and dependent on a stronger crypto market, so product news alone may not be enough to sustain momentum. Stock Of The Day: Is This The New Range For Coinbase
• Neutral Sentiment: Recent crypto headlines also point to weaker Bitcoin demand and negative Coinbase Premium readings, which could weigh on near-term trading activity. Sell in May and Walk Away” Plays Out as Bitcoin Flashes Bearish Signals
• Negative Sentiment: Insider Lawrence J. Brock sold shares under a pre-arranged trading plan, which may still be read cautiously by investors even though it does not necessarily signal a change in fundamentals. Coinbase insider trade filing

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 10,020 shares of Coinbase Global stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the transaction, the chief financial officer owned 397,171 shares in the company, valued at $79,434,200. This trade represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the transaction, the insider owned 517 shares in the company, valued at approximately $97,718.17. This trade represents 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. Insiders have sold a total of 36,606 shares of company stock worth $7,264,410 in the last quarter. Corporate insiders own 16.66% of the company’s stock.

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.