Resona Asset Management Co. Ltd. Buys 5,224 Shares of Coinbase Global, Inc. $COIN

Resona Asset Management Co. Ltd. raised its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,260 shares of the cryptocurrency exchange’s stock after buying an additional 5,224 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Coinbase Global were worth $11,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COIN. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. grew its position in shares of Coinbase Global by 70.4% during the 1st quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 1,082 shares of the cryptocurrency exchange’s stock worth $189,000 after buying an additional 447 shares during the period. Frank Rimerman Advisors LLC raised its position in shares of Coinbase Global by 91.5% in the 1st quarter. Frank Rimerman Advisors LLC now owns 4,939 shares of the cryptocurrency exchange’s stock valued at $862,000 after acquiring an additional 2,360 shares during the period. KERR FINANCIAL PLANNING Corp raised its position in shares of Coinbase Global by 39.2% in the 1st quarter. KERR FINANCIAL PLANNING Corp now owns 1,758 shares of the cryptocurrency exchange’s stock valued at $337,000 after acquiring an additional 495 shares during the period. Meitav Investment House Ltd. bought a new position in Coinbase Global during the 1st quarter worth approximately $524,000. Finally, Clare Market Investments LLC bought a new position in Coinbase Global during the 1st quarter worth approximately $369,000. Institutional investors own 68.84% of the company’s stock.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase gained sympathy buying after Circle received OCC approval to launch a national trust bank, reinforcing a more constructive regulatory backdrop for crypto-related firms. Coinbase Stock Trades Higher After Circle Receives OCC Approval to Open National Trust Bank
• Positive Sentiment: Citizens JMP raised its price target on Coinbase to $325 and kept an outperform rating, which supports the idea that Wall Street still sees significant upside from current levels. Coinbase Global (NASDAQ:COIN) Given New $325.00 Price Target at Citizens Jmp
• Positive Sentiment: Bitcoin strength and reports of a rising “Coinbase Premium” suggested renewed U.S. crypto demand, which can boost Coinbase trading activity and investor expectations for volume-driven revenue. Bitcoin whales sent BTC price to $64K as Coinbase Premium broke key level: CryptoQuant
• Positive Sentiment: Coinbase also received attention for a UK authorization that could help it expand into a broader “everything exchange” offering, a potential long-term growth catalyst. Coinbase UK License Marks Major Step Toward Bringing ‘Everything Exchange’ to Life
• Neutral Sentiment: Analysts and market commentary continued to highlight Coinbase as a high-profile crypto proxy, keeping the stock in focus for traders, but these pieces were more commentary than fresh fundamental news. Is Trending Stock Coinbase Global, Inc. (COIN) a Buy Now?
• Neutral Sentiment: Coinbase’s chief legal officer, Paul Grewal, is stepping down after a successful tenure, but the company said the transition is orderly and succession plans are already in place. Coinbase restores prediction markets trading after technical issue
• Negative Sentiment: Recent analyst updates were mixed, with Barclays cutting its price target to $99 and maintaining an underweight rating, showing that not all analysts are bullish on the stock’s valuation and earnings outlook. Coinbase Global had its price target lowered by Barclays PLC

Insiders Place Their Bets

In related news, CFO Alesia J. Haas sold 10,020 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the transaction, the chief financial officer directly owned 377,201 shares of the company’s stock, valued at approximately $75,440,200. This represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $159.09, for a total transaction of $1,590,900.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $3,181,800. The trade was a 33.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 40,647 shares of company stock worth $7,331,841 in the last ninety days. 16.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on COIN. Zacks Research raised shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Piper Sandler reduced their price target on shares of Coinbase Global from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Oppenheimer decreased their price target on shares of Coinbase Global from $227.00 to $224.00 in a report on Friday, May 8th. Robert W. Baird lowered 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. Finally, Wedbush set a $224.00 price objective on Coinbase Global in a research note on Friday, May 8th. Eighteen 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $251.79.

Coinbase Global Stock Up 0.4%

NASDAQ COIN traded up $0.63 during trading hours on Friday, reaching $159.07. 6,111,167 shares of the company’s stock were exchanged, compared to its average volume of 7,137,718. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The company has a market capitalization of $41.91 billion, a price-to-earnings ratio of 59.80, a price-to-earnings-growth ratio of 5.56 and a beta of 3.35. The company’s 50-day moving average is $173.89 and its two-hundred day moving average is $189.89. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $444.64.

Coinbase Global (NASDAQ:COIN) 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). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the firm posted $0.24 EPS. The business’s quarterly revenue was down 30.5% compared to the same quarter last year. On average, analysts forecast that Coinbase Global, Inc. will post 1.75 EPS for the current fiscal year.

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.