DJE Kapital AG Reduces Stock Position in Coinbase Global, Inc. $COIN

DJE Kapital AG lessened its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 43.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,688 shares of the cryptocurrency exchange’s stock after selling 57,251 shares during the period. DJE Kapital AG’s holdings in Coinbase Global were worth $12,159,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of COIN. Vanguard Group Inc. increased its position in Coinbase Global by 0.7% during the fourth 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 lifted its holdings in Coinbase Global by 3.2% in the fourth 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 period. Paradigm Operations LP boosted its position in Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock worth $963,912,000 after purchasing an additional 134,425 shares during the last quarter. Norges Bank purchased a new position in Coinbase Global in the fourth quarter worth about $656,744,000. Finally, ARK Investment Management LLC grew its stake in shares of Coinbase Global by 6.1% during the 4th quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock valued at $574,832,000 after purchasing an additional 146,388 shares during the period. 68.84% of the stock is owned by institutional investors.

Coinbase Global Stock Up 2.1%

COIN stock opened at $160.43 on Tuesday. Coinbase Global, Inc. has a twelve month low of $139.18 and a twelve month high of $436.38. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. The stock has a market cap of $42.27 billion, a P/E ratio of 60.31, a PEG ratio of 10.14 and a beta of 3.35. The business’s 50-day moving average price is $169.28 and its 200-day moving average price is $186.24.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (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 firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $0.24 earnings per share. The company’s revenue was down 30.5% compared to the same quarter last year. On average, equities research analysts forecast that Coinbase Global, Inc. will post 1.41 EPS for the current year.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase vice chair Ryan VanGrack said Senate negotiators added stronger consumer protections to the CLARITY Act, which could improve the odds of crypto market-structure legislation passing and create a more favorable regulatory backdrop for Coinbase. Article: Democrats added certain consumer protection rules to CLARITY: Coinbase exec
• Positive Sentiment: Multiple headlines featured Coinbase CEO Brian Armstrong defending Bitcoin’s long-term durability and dismissing concerns about miners shifting energy use to AI, which can reinforce Coinbase’s image as a leading crypto industry voice. Article: Coinbase CEO Brian Armstrong: Hash Power Doesn’t Determine Bitcoin’s Price
• Neutral Sentiment: Armstrong also said Bitcoin is likely to remain a long-term gauge of inflation fears and commented that stablecoins, not Bitcoin, have best fulfilled Satoshi’s payments vision; this keeps Coinbase in the center of the crypto narrative but is not a direct business catalyst. Article: Coinbase CEO Brian Armstrong Says Bitcoin Will ‘Mostly’ Be a Measure of Inflation Fears in the Long Term
• Neutral Sentiment: Coinbase shares also got a routine lift from broad market movement, with recent coverage noting the stock outperformed a down market session. Article: Coinbase Global, Inc. (COIN) Ascends While Market Falls: Some Facts to Note
• Negative Sentiment: Prediction markets suggested Coinbase’s second-quarter trading volume may come in below analyst expectations, renewing concern that weaker crypto activity could pressure transaction revenue. Article: Coinbase trading results may fall short of expectations, according to prediction markets
• Negative Sentiment: Another piece argued Coinbase’s Base strategy showed the company may be building for an older crypto cycle, hinting at product and strategic execution risks. Article: Coinbase’s big Base mistake offers an important lesson for the crypto industry

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Coinbase Global from $226.00 to $228.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Coinbase Global in a research report on Wednesday, June 17th. B. Riley Financial decreased their price target on shares of Coinbase Global from $243.00 to $203.00 and set a “neutral” rating on the stock in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, Benchmark reissued a “buy” rating and set a $270.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 17th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $245.39.

Insider Activity

In other Coinbase Global news, Director Frederick R. Wilson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $181.54, for a total value of $1,815,400.00. Following the completion of the transaction, the director directly owned 30,000 shares in the company, valued at $5,446,200. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 30,627 shares of company stock valued at $5,327,841. Company insiders own 16.66% of the company’s stock.

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.