Coinbase Global Intrinsic Stock Value – ARK Invest Profits from Crypto Rally, Selling 759K Shares of Coinbase Stock
December 13, 2023
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It operates a digital asset exchange and facilitates the buying, selling, and trading of digital currencies. Recently, it has gained attention as the crypto market rallied. ARK Invest, owned by Cathie Wood, decided to benefit from this surge and disposed of 759K shares of Coinbase stock. The crypto market rally has been largely driven by institutional investors’ interest in the sector.
This appreciation in value has allowed ARK Invest to benefit greatly from its original purchase of Coinbase shares. As the crypto market continues to grow and evolve, Coinbase Global ($NASDAQ:COIN) is expected to continue to be a leader in the industry.
Price History
This move came as the stock opened at $141.5 and closed at $138.0, representing a 5.9% drop from its prior closing price of $146.6. Despite the large sale, ARK Invest still holds more than 3 million shares of COINBASE GLOBAL in its portfolio. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Coinbase Global. More…
| Total Revenues | Net Income | Net Margin |
| 2.78k | -735.57 | -57.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Coinbase Global. More…
| Operations | Investing | Financing |
| 182.7 | -111.24 | -3.37k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Coinbase Global. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 127.31k | 121.38k | 24.75 |
Key Ratios Snapshot
Some of the financial key ratios for Coinbase Global are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 81.6% | – | -25.0% |
| FCF Margin | ROE | ROA |
| 4.2% | -7.4% | -0.3% |
Analysis – Coinbase Global Intrinsic Stock Value
At GoodWhale, we have been analyzing the fundamentals of COINBASE GLOBAL and have come to the conclusion that its intrinsic value is around $71.4, calculated by our proprietary Valuation Line. This is significantly lower than the current stock price of $138.0, which indicates that the stock is overvalued by 93.3%. As a result, investors should be cautious when considering acquiring COINBASE GLOBAL shares at this time. More…
Peers
The competition between Coinbase Global Inc and its competitors is fierce. Each company is trying to get a larger share of the market and to be the leading digital currency exchange. Coinbase Global Inc is the largest digital currency exchange in the world and it has a lot of experience. However, its competitors are also very experienced and they are all trying to get a larger share of the market.
– Riot Blockchain Inc ($NASDAQ:RIOT)
Riot Blockchain Inc. is a cryptocurrency mining company that focuses on Bitcoin mining. The company has a market capitalization of $981.09 million and a return on equity of -17.02%. Riot Blockchain Inc. was founded in 2000 and is headquartered in Castle Rock, Colorado.
– Robinhood Markets Inc ($NASDAQ:HOOD)
Robinhood Markets Inc is a financial services company that offers a commission-free trading platform for stocks, options, and cryptocurrency. The company has a market cap of 9.19B as of 2022 and a Return on Equity of -33.37%. Robinhood was founded in 2013 and is headquartered in Menlo Park, California.
– MicroStrategy Inc ($NASDAQ:MSTR)
MicroStrategy Inc is a publicly traded business intelligence company. The company has a market cap of 2.66B as of 2022 and a ROE of -77.69%. MicroStrategy offers a comprehensive suite of products that enable organizations to analyze internal and external data to make better informed decisions. The company’s products are used by organizations of all sizes, in a variety of industries, including banking, healthcare, insurance, retail, telecommunications, and many others.
Summary
Despite this, ARK Invest, the investing firm founded by Cathie Wood, recently sold 759K shares of Coinbase Global. This may indicate that ARK is planning a shift in its investing strategy.
However, on the same day the stock moved down. This could suggest that investors are cautious about the long-term value of Coinbase Global’s stock, especially considering the volatile nature of the crypto market. Despite this, Coinbase Global’s market capitalization has continued to rise, and it remains an attractive option for investors looking for exposure to the crypto market.
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