Streetbeat News

COIN

Coinbase Global, Inc.

https://www.coinbase.com

Industry

Software - Application

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global, Inc. was founded in 2012 and is based in Wilmington, Delaware.

Open

282.51

Mkt cap

77B

Volume

18M

High

306.45

P/E Ratio

52.02

52-wk high

334.86

Low

276.02

Div yield

N/A

52-wk low

94.90

Today's session highlighted significant options activity for 10 financial stocks, indicating potential trading opportunities based on whale alerts. These alerts track large transactions, suggesting shifts in market sentiment for stocks like SQ, USB, C, MS, BAC, HDB, LMND, KKR, V, and COIN. The activity ranged from bullish to bearish sentiments, with notable trades in both call and put options across various expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 5:35 pm

Cathie Wood's Ark Invest sold nearly $4 million worth of Nvidia (NVDA) shares despite its post-earnings rally, reflecting a strategic portfolio adjustment. The firm also adjusted its stakes in Roku (ROKU), Coinbase (COIN), Robinhood (HOOD), and Teladoc (TDOC), indicating a broader reassessment of its investment strategy amid varying market conditions.

Portfolio Pulse from Benzinga Neuro

February 23, 2024 | 5:28 am

Ark Invest, led by Cathie Wood, sold $6.6M worth of Coinbase (COIN) shares as the crypto exchange experienced a significant Bitcoin (BTC) withdrawal, leaving it with its lowest reserve since 2015. The sale occurred through ARKK and ARKF ETFs. Despite this, Coinbase's Q4 earnings exceeded expectations. Ark also made notable investments in SOFI, TXG, U, and ACHR, indicating a bullish stance on these companies.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 5:52 am

Coinbase (NASDAQ:COIN) experienced a significant Bitcoin withdrawal, leaving it with its lowest reserve since 2015. Despite this, the company's financials remain strong, with a positive net income and EBITDA. Cathie Wood's ARK Innovation ETF (NYSE:ARKK) holds COIN as its largest asset, and the ARK 21Shares Bitcoin ETF (NYSE:ARKB) was among the first of its kind. The AXS 2X Innovation ETF (NASDAQ:TARK) and AXS Short Innovation Daily ETF (NASDAQ:SARK) offer leveraged and inverse exposure to ARKK, respectively.

Portfolio Pulse from Johnny Rice

February 21, 2024 | 5:49 pm

Cathie Wood's ARK Innovation ETF (ARKK) experienced a 70% growth in 2023 but has seen a 4% decline in 2024. ARKK, known for investing in disruptive innovation companies like Tesla and Coinbase, is subject to volatility. AXS Investments offers products for both bullish and bearish views on ARKK, including the AXS 2X Innovation ETF (TARK) for bulls and the AXS Short Innovation Daily ETF (SARK) for bears, with options trading available for both.

Portfolio Pulse from Johnny Rice

February 21, 2024 | 4:54 pm

Cathie Wood's Ark Invest purchased over $25M worth of Roku shares, signaling confidence in its long-term value despite recent dips. The firm also sold shares in Coinbase and Robinhood, adjusting its portfolio amid market dynamics. Additionally, Ark Invest bought shares in Unity Software and 10X Genomics, while selling Twilio and Zoom shares, reflecting strategic shifts in its investment focus.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 3:54 am

Retail investors are cautiously returning to the cryptocurrency market, with significant increases in activity reported by major U.S. crypto exchanges like Coinbase and Robinhood. Despite the market's volatility and the losses faced during the 2022 crash, the launch of U.S. ETFs investing in Bitcoin has reignited interest. However, the current level of enthusiasm does not match the previous bull market's fervor. Retail traders, crucial to the crypto ecosystem, are adopting a more measured approach, emphasizing risk management and the potential for long-term growth.

Portfolio Pulse from Murtuza Merchant

February 20, 2024 | 8:38 pm

20 analysts have recently updated their ratings on Coinbase Global (NASDAQ:COIN), showing a diverse range of opinions from bullish to bearish. The average 12-month price target is now $153.4, up 36.26% from the previous $112.58, indicating a positive sentiment shift. Analysts from firms like Goldman Sachs, JMP Securities, and HC Wainwright & Co. have raised their price targets, reflecting optimism about Coinbase's market position and financial performance, including a notable revenue growth rate and strong profitability metrics.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 4:00 pm

This week in AI featured Elon Musk's critique of OpenAI, Apple's AI animation tool Keyframer, Nvidia surpassing Google and Amazon in market cap, Ark Invest's portfolio adjustments favoring Tesla and META, and Jim Chanos' caution on Nvidia. Musk criticized OpenAI's shift to a profit model and its partnership with Microsoft. Apple's Keyframer could revolutionize AI animation. Nvidia's H100 AI processor has driven its market value, while Ark Invest shifts its focus towards Tesla and META, reducing stakes in Coinbase and Nvidia. Chanos highlighted potential concerns for Nvidia despite its growth.

Portfolio Pulse from Benzinga Neuro

February 18, 2024 | 8:08 am

Cathie Wood's Ark Invest purchased $107.5M worth of Roku shares following a 24% drop in its stock price due to disappointing Q4 user spending and Q1 guidance. Ark also increased its stake in SoFi Technologies but reduced its holdings in Robinhood and Coinbase, despite their recent rallies. Ark's ETFs, ARKK, AKRW, and ARKF, were the vehicles for these transactions. Analysts have lowered Roku's price targets, reflecting concerns over its growth and operating costs.

Portfolio Pulse from Shanthi Rexaline

February 17, 2024 | 5:59 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.