Stock Traders Buy Large Volume of Put Options on Coinbase Global (NASDAQ:COIN)

Coinbase Global, Inc. (NASDAQ:COIN) was the recipient of unusually large options trading on Thursday. Stock investors purchased 354,875 put options on the stock. This is an increase of 42% compared to the average daily volume of 249,706 put options.

Coinbase Global Trading Down 6.5%

NASDAQ:COIN traded down $16.58 during trading hours on Thursday, reaching $239.28. 12,038,135 shares of the company were exchanged, compared to its average volume of 7,051,839. The firm has a market cap of $64.52 billion, a price-to-earnings ratio of 20.70 and a beta of 3.70. The stock has a 50 day simple moving average of $258.13 and a 200 day simple moving average of $312.36. Coinbase Global has a 52-week low of $142.58 and a 52-week high of $444.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.40 and a quick ratio of 2.40.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, October 30th. The cryptocurrency exchange reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.40. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Coinbase Global had a net margin of 41.99% and a return on equity of 15.70%. The business’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. As a group, analysts predict that Coinbase Global will post 7.22 EPS for the current year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 5,633 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $266.49, for a total value of $1,501,138.17. Following the sale, the chief financial officer owned 78,714 shares of the company’s stock, valued at approximately $20,976,493.86. This represents a 6.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick Ernest Ehrsam III sold 1,375 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $250.03, for a total value of $343,791.25. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 808,412 shares of company stock valued at $237,645,711 in the last three months. 16.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coinbase Global

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. grew its position in Coinbase Global by 672.2% in the second quarter. Bessemer Group Inc. now owns 1,166 shares of the cryptocurrency exchange’s stock worth $408,000 after buying an additional 1,015 shares during the last quarter. SP Asset Management LLC acquired a new stake in shares of Coinbase Global during the 2nd quarter valued at $360,000. New York Life Investment Management LLC boosted its stake in shares of Coinbase Global by 890.8% during the 2nd quarter. New York Life Investment Management LLC now owns 31,479 shares of the cryptocurrency exchange’s stock worth $11,033,000 after acquiring an additional 28,302 shares in the last quarter. Lauterbach Financial Advisors LLC bought a new stake in shares of Coinbase Global during the 2nd quarter worth $390,000. Finally, Atria Investments Inc acquired a new position in shares of Coinbase Global in the 2nd quarter worth $1,137,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase CEO Brian Armstrong is actively lobbying lawmakers to protect crypto rewards and push for a better bill (effort could preserve key revenue streams if successful). Coinbase CEO lobbies lawmakers to protect crypto rewards
• Positive Sentiment: China Renaissance cut its target but kept a “buy” rating, implying continued upside in some analysts’ views despite the near-term noise. China Renaissance adjusts PT on Coinbase
• Neutral Sentiment: Some Senate Banking members remain optimistic the bill can be revised and advanced, signaling the regulatory process is postponed rather than dead — outcome and timing remain uncertain. Senate Banking Committee Lawmakers Optimistic About Crypto Bill Progress
• Neutral Sentiment: Coinbase says a markup could still happen “in a few weeks,” suggesting more debate ahead rather than a final regulatory resolution. Coinbase CEO expects market structure bill markup ‘in a few weeks‘
• Negative Sentiment: Armstrong’s public withdrawal of support for the CLARITY/Digital Asset Market bill triggered the committee to pause its vote; investors view the move as near-term regulatory uncertainty for Coinbase’s core business. Coinbase Stock Falls After Crypto Bill Support Withdrawn
• Negative Sentiment: Large put-option activity: unusually high volume of puts (~354,875 contracts) suggests traders are positioning for further downside or hedging exposure. (Options flow reported intraday.)
• Negative Sentiment: Jefferies trimmed its price target and moved to a “hold” — another sell-side downgrade that pressures sentiment. Jefferies adjusts price target on Coinbase
• Negative Sentiment: Crypto weakness and Q4 headwinds: ARK ETFs and other funds flagged Coinbase as a key detractor amid a crypto pullback, amplifying stock volatility tied to broader market swings. Crypto slump hits ARK ETFs in Q4, Coinbase becomes top detractor

Analyst Ratings Changes

A number of brokerages have issued reports on COIN. Cantor Fitzgerald cut their target price on shares of Coinbase Global from $459.00 to $320.00 and set an “overweight” rating for the company in a research report on Thursday, December 18th. Sanford C. Bernstein restated an “outperform” rating and set a $440.00 price objective on shares of Coinbase Global in a research report on Tuesday, January 6th. Rothschild & Co Redburn reduced their target price on Coinbase Global from $417.00 to $404.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Wall Street Zen cut Coinbase Global from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Bank of America raised Coinbase Global from a “neutral” rating to a “buy” rating and set a $340.00 price target for the company in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $362.72.

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.