Huntington National Bank Has $3.45 Million Holdings in Coinbase Global, Inc. $COIN

Huntington National Bank boosted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 1,276.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,237 shares of the cryptocurrency exchange’s stock after buying an additional 14,130 shares during the quarter. Huntington National Bank’s holdings in Coinbase Global were worth $3,446,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Coinbase Global by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock valued at $5,970,285,000 after buying an additional 184,043 shares in the last quarter. Geode Capital Management LLC raised its position in Coinbase Global by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock valued at $1,374,080,000 after purchasing an additional 189,080 shares during the last quarter. Northern Trust Corp raised its position in Coinbase Global by 5.9% in the third quarter. Northern Trust Corp now owns 1,959,871 shares of the cryptocurrency exchange’s stock valued at $661,437,000 after purchasing an additional 108,751 shares during the last quarter. Legal & General Group Plc raised its position in Coinbase Global by 1.4% in the fourth quarter. Legal & General Group Plc now owns 1,210,082 shares of the cryptocurrency exchange’s stock valued at $273,648,000 after purchasing an additional 16,298 shares during the last quarter. Finally, Baillie Gifford & Co. raised its position in Coinbase Global by 41.1% in the fourth quarter. Baillie Gifford & Co. now owns 829,081 shares of the cryptocurrency exchange’s stock valued at $187,488,000 after purchasing an additional 241,659 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase expanded its institutional fiat infrastructure through a partnership with Standard Chartered, adding multi-currency funding and settlement rails for AUD, SGD, CAD, CHF, EUR and GBP. This could make it easier for global institutions to move money onto and off the platform, supporting trading volumes and Coinbase’s international growth. Coinbase, Standard Chartered Partner to Add 6 Currency Access
• Positive Sentiment: Coinbase’s Base network launched an AI-focused wallet integration tool that lets assistants like ChatGPT and Claude interact with crypto wallets and execute on-chain actions. Investors may view this as a new growth avenue tied to AI-enabled crypto usage. Base launches new tool to connect crypto wallets to AI agents
• Positive Sentiment: CEO Brian Armstrong said Coinbase’s new Direct Deposit feature is live, allowing users to route part of their paycheck directly into crypto purchases. That could improve customer engagement and make recurring buying easier. Brian Armstrong Says You Can Now Route Your Paycheck Directly To Coinbase For Automatic Crypto Investments
• Positive Sentiment: Goldman Sachs raised its price target on Coinbase and kept a buy rating, reinforcing the view that analysts still see meaningful upside from current levels. Goldman Sachs adjusts price target on Coinbase Global
• Neutral Sentiment: Some market commentary says Coinbase may still be range-bound and dependent on a stronger crypto market, so product news alone may not be enough to sustain momentum. Stock Of The Day: Is This The New Range For Coinbase
• Neutral Sentiment: Recent crypto headlines also point to weaker Bitcoin demand and negative Coinbase Premium readings, which could weigh on near-term trading activity. Sell in May and Walk Away” Plays Out as Bitcoin Flashes Bearish Signals
• Negative Sentiment: Insider Lawrence J. Brock sold shares under a pre-arranged trading plan, which may still be read cautiously by investors even though it does not necessarily signal a change in fundamentals. Coinbase insider trade filing

Insider Transactions at Coinbase Global

In other news, insider Lawrence J. Brock sold 6,616 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 517 shares in the company, valued at $97,718.17. This trade represents a 92.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 10,020 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $200.00, for a total value of $2,004,000.00. Following the transaction, the chief financial officer owned 397,171 shares of the company’s stock, valued at $79,434,200. This trade represents a 2.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,606 shares of company stock valued at $7,264,410 over the last 90 days. 16.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on COIN. Deutsche Bank Aktiengesellschaft dropped their target price on Coinbase Global from $206.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, May 8th. President Capital increased their target price on Coinbase Global from $236.00 to $264.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. increased their target price on Coinbase Global from $252.00 to $290.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Oppenheimer dropped their target price on Coinbase Global from $227.00 to $224.00 in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded Coinbase Global from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Nineteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $252.10.

Coinbase Global Price Performance

Shares of COIN opened at $182.25 on Friday. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.34. The company has a market capitalization of $48.02 billion, a price-to-earnings ratio of 68.52, a price-to-earnings-growth ratio of 6.13 and a beta of 3.38. The business has a 50-day moving average of $188.86 and a 200-day moving average of $212.34.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (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 company 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 business earned $0.24 earnings per share. Coinbase Global’s revenue was down 30.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 1.74 earnings per share for the current year.

Coinbase Global Company Profile

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.