Coinbase Global (NASDAQ:COIN) Stock: Insider Marc Andreessen Sells 13,676 Shares

Coinbase Global, Inc. (NASDAQ:COIN) Director Marc Andreessen sold 13,676 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $186.18, for a total value of $2,546,197.68. Following the completion of the transaction, the director owned 1,115,810 shares in the company, valued at $207,741,505.80. This represents a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Coinbase Global Stock Up 2.9%

Shares of NASDAQ COIN traded up $5.22 during mid-day trading on Monday, reaching $188.22. The company had a trading volume of 7,802,886 shares, compared to its average volume of 10,237,729. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42. The company has a market capitalization of $49.66 billion, a price-to-earnings ratio of -49.02 and a beta of 3.41. The stock has a fifty day moving average of $173.36 and a two-hundred day moving average of $175.75. Coinbase Global, Inc. has a 12-month low of $139.11 and a 12-month high of $402.16.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The business’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm posted $5.14 earnings per share. As a group, equities research analysts expect that Coinbase Global, Inc. will post -0.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on COIN shares. Mizuho set a $155.00 price target on shares of Coinbase Global in a research note on Friday, July 31st. Benchmark reduced their price objective on Coinbase Global from $270.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Citigroup restated a “market outperform” rating on shares of Coinbase Global in a research note on Friday, July 31st. William Blair reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Tuesday, September 22nd. Finally, Wells Fargo & Company assumed coverage on Coinbase Global in a report on Friday. They set an “equal weight” rating and a $200.00 price target for the company. Twenty investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Coinbase Global presently has a consensus rating of “Hold” and a consensus target price of $222.97.

Key Coinbase Global News

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

• Positive Sentiment: Bitcoin strength is supporting crypto-exchange stocks. Bitcoin approached $87,000, near its late-September high, and improving U.S. demand indicated by the Coinbase Premium Index is favorable for trading activity and transaction revenue. MSTR, COIN, CRCL, BMNR Stocks Rally With Bitcoin Within $500 Of September Peak
• Positive Sentiment: Bank of America raised its Coinbase price target to $203 while maintaining a Buy rating. The upgrade provides a positive valuation signal, although the company has missed analyst earnings estimates in each of the last three quarters. Bank of America raises Coinbase price target to $203
• Positive Sentiment: Coinbase’s expanded partnership with Citigroup could strengthen its institutional business. The collaboration supports stablecoin payments and Coinbase Virtual Accounts, linking Coinbase’s digital-asset infrastructure with Citi’s banking network. Brian Armstrong Cheers Citi Partnership
• Positive Sentiment: Crypto-friendly political momentum may improve the regulatory outlook. Fairshake, supported by Coinbase and other crypto-industry firms, plans to back 32 House candidates who supported the CLARITY market-structure bill. FinCEN’s withdrawal of proposed crypto-mixing and self-custody reporting rules is also viewed as less restrictive for the industry. Crypto PAC announces support for 32 House candidates
• Neutral Sentiment: A proposed stablecoin backed by Visa, Mastercard, Stripe and Coinbase could expand the market but increase competition. The initiative may create new distribution opportunities while potentially challenging Coinbase’s existing USDC-related economics. Visa, Mastercard, Stripe, and Coinbase Commit $1 Billion to New Stablecoin
• Negative Sentiment: Chief Accounting Officer Jennifer Jones plans to retire after a successor is appointed, extending a period of leadership changes that follows Coinbase’s reported 14% workforce reduction. Coinbase CAO to retire
• Negative Sentiment: Comparisons with Intercontinental Exchange highlight COIN’s riskier investment profile. Analysts view ICE as stronger on projected growth, share gains and valuation because of its more diversified business. Coinbase has also continued to trail earnings expectations. Coinbase vs. Intercontinental: Which Exchange Stock Has an Edge?

Hedge Funds Weigh In On Coinbase Global

Several hedge funds have recently bought and sold shares of the business. MV Capital Management Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter worth about $27,000. Osbon Capital Management LLC bought a new position in shares of Coinbase Global in the 4th quarter valued at approximately $30,000. Brooklands Fund Management Ltd bought a new position in shares of Coinbase Global in the 4th quarter valued at approximately $34,000. Glen Eagle Advisors LLC lifted its holdings in Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. Finally, Archer Investment Corp lifted its holdings in Coinbase Global by 546.4% in the 1st quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 153 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

About Coinbase Global

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.