Signature Estate & Investment Advisors LLC cut its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,644 shares of the cryptocurrency exchange’s stock after selling 31,512 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Coinbase Global were worth $30,448,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Coinbase Global by 8.3% in the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange’s stock valued at $8,847,905,000 after buying an additional 2,007,930 shares in the last quarter. North Dakota State Investment Board acquired a new stake in shares of Coinbase Global in the fourth quarter valued at approximately $1,626,000. Harvest Portfolios Group Inc. raised its position in shares of Coinbase Global by 21.7% in the fourth quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange’s stock valued at $85,159,000 after buying an additional 67,082 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $14,491,000. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Coinbase Global in the third quarter valued at approximately $224,663,000. Institutional investors and hedge funds own 68.84% of the company’s stock.
Coinbase Global Stock Up 1.2%
Shares of COIN opened at $193.56 on Friday. Coinbase Global, Inc. has a one year low of $139.36 and a one year high of $444.64. The company has a market cap of $51.00 billion, a P/E ratio of 72.77, a P/E/G ratio of 6.97 and a beta of 3.38. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a 50 day simple moving average of $190.76 and a two-hundred day simple moving average of $216.96.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on COIN shares. HC Wainwright dropped their price target on shares of Coinbase Global from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Zacks Research upgraded shares of Coinbase Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Mizuho boosted their price target on Coinbase Global from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Citizens Jmp dropped their price target on Coinbase Global from $400.00 to $355.00 and set a “market outperform” rating for the company in a research note on Friday, April 10th. Finally, Wedbush set a $224.00 price target on Coinbase Global in a research note on Friday, May 8th. Nineteen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $252.20.
Get Our Latest Stock Report on Coinbase Global
Insider Buying and Selling
In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the transaction, the chief financial officer owned 397,171 shares of the company’s stock, valued at approximately $79,434,200. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 29,990 shares of company stock worth $6,013,920 over the last three months. 16.66% of the stock is currently owned by insiders.
Key Stories Impacting Coinbase Global
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase said it will launch perpetual-style equity index futures in June, another step in broadening its derivatives lineup and potentially adding a new source of trading revenue. Coinbase to launch perpetual-style equity index futures in June
- Positive Sentiment: The Federal Reserve is reportedly proposing limited master accounts for crypto firms, which could improve Coinbase’s long-term access to payment rails and strengthen the industry’s regulatory footing. Federal Reserve Proposes Limited Master Accounts For Crypto Firms
- Positive Sentiment: Coinbase CEO Brian Armstrong said AI is handling most compliance work and has cut account-restriction resolution times by 90%, a sign of better efficiency and lower operating friction. Coinbase CEO Brian Armstrong Says AI Is Doing ‘Most Of The Heavy Lifting’ In Compliance As Resolution Times Improve By 90%
- Positive Sentiment: Coinbase is expanding its stablecoin infrastructure business through Flipcash’s USDF launch on Solana, supporting its strategy to become a broader crypto-financial platform beyond spot trading. Coinbase expands branded stablecoin infrastructure business with Flipcash USDF launch
- Neutral Sentiment: Coinbase-linked policy efforts got a boost as Fairshake and affiliated crypto PACs won several U.S. state primaries, which could help the industry’s political influence later, but the impact on near-term earnings is indirect. Fairshake PAC’s $20M backing pays off in three US state primaries
- Neutral Sentiment: Several articles noted broader crypto market weakness, negative Coinbase Premium readings, and Bitcoin outflows, which can weigh on COIN because trading activity is tied to crypto prices and volumes. Coinbase CEO Brian Armstrong Says AI Is Doing ‘Most Of The Heavy Lifting’ In Compliance As Resolution Times Improve By 90%
- Negative Sentiment: One report highlighted ongoing tech layoffs, including at Coinbase, reinforcing concerns about cost-cutting and a tougher operating backdrop in the sector. Grads Get Rude Welcome from Job Market Battered by AI-Fueled Tech Layoffs
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.
Further Reading
- Five stocks we like better than Coinbase Global
- Meta Platforms 10% Layoff Raises a Bigger Question About AI Spending
- As Small-Cap Outperformance Continues, These 2 ETFs Provide Exposure
- Silicon Shake-Up: The AI Trade Is Moving Beyond NVIDIA
- The Silver Lining of Last Week’s Hims & Hers Earnings Miss
Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN – Free Report).
Receive News & Ratings for Coinbase Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coinbase Global and related companies with MarketBeat.com's FREE daily email newsletter.
