D.A. Davidson & CO. Has $4.93 Million Stock Position in Coinbase Global, Inc. $COIN

D.A. Davidson & CO. boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 28.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,230 shares of the cryptocurrency exchange’s stock after buying an additional 6,298 shares during the period. D.A. Davidson & CO.’s holdings in Coinbase Global were worth $4,929,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. MV Capital Management Inc. acquired a new stake in shares of Coinbase Global in the fourth quarter worth $27,000. Palisade Asset Management LLC acquired a new position in Coinbase Global during the 3rd quarter valued at $29,000. Osbon Capital Management LLC bought a new stake in Coinbase Global in the 4th quarter valued at $30,000. Archer Investment Corp boosted 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 valued at $32,000 after purchasing an additional 153 shares during the period. Finally, Brooklands Fund Management Ltd acquired a new stake in Coinbase Global in the 4th quarter worth $34,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the sale, the insider owned 517 shares in the company, valued at approximately $97,718.17. This represents a 92.75% decrease in their ownership of the stock. 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, insider Paul Grewal sold 1,960 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total value of $346,684.80. Following the completion of the sale, the insider owned 84,753 shares of the company’s stock, valued at approximately $14,991,110.64. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 30,627 shares of company stock worth $5,327,841 over the last ninety days. Company insiders own 16.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COIN shares. The Goldman Sachs Group boosted their price objective on shares of Coinbase Global from $226.00 to $228.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Citizens Jmp reduced their target price on shares of Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Mizuho lifted their target price on Coinbase Global from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Sanford C. Bernstein lowered their price target on Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research note on Monday, March 30th. Finally, JPMorgan Chase & Co. boosted their price target on Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Eighteen equities 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 company’s stock. Based on data from MarketBeat.com, Coinbase Global currently has an average rating of “Hold” and an average price target of $245.39.

Coinbase Global Stock Performance

NASDAQ:COIN opened at $157.12 on Friday. The stock has a market capitalization of $41.39 billion, a P/E ratio of 59.07, a price-to-earnings-growth ratio of 10.00 and a beta of 3.35. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 1 year low of $139.18 and a 1 year high of $444.64. The firm has a 50 day moving average of $170.41 and a 200-day moving average of $187.07.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue was down 30.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Coinbase Global, Inc. will post 1.41 EPS for the current fiscal year.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase continues to benefit from progress on U.S. crypto regulation, including movement on the CLARITY Act and supportive comments from Coinbase policy leaders, which could improve long-term market structure and expand institutional adoption. Coinbase Policy Chief Calls CLARITY Act a ‘Dramatic Advance’: Here’s What Comes Next in the Senate
• Positive Sentiment: JPMorgan kept an Overweight rating on Coinbase even while cutting its price target, signaling that Wall Street still sees upside potential despite the pullback in expectations. JPMorgan slashes Coinbase price target
• Positive Sentiment: Coinbase joined a large stablecoin alliance and remains seen as a key player in new crypto payment and infrastructure initiatives, which could support future growth beyond spot trading. Coinbase Just Joined a 140-Company Stablecoin Alliance. Here’s What It Means for the Stock.

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.