NewEdge Advisors LLC Decreases Holdings in Coinbase Global, Inc. $COIN

NewEdge Advisors LLC lowered its position in Coinbase Global, Inc. (NASDAQ:COIN) by 50.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 31,298 shares of the cryptocurrency exchange’s stock after selling 32,106 shares during the period. NewEdge Advisors LLC’s holdings in Coinbase Global were worth $4,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System boosted its stake in shares of Coinbase Global by 14,352.9% in the 2nd quarter. California State Teachers Retirement System now owns 46,883,279 shares of the cryptocurrency exchange’s stock valued at $6,853,867,000 after purchasing an additional 46,558,893 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Coinbase Global by 3.2% during 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 acquiring an additional 189,080 shares during the last quarter. Paradigm Operations LP grew its stake in shares of Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock worth $963,912,000 after purchasing an additional 134,425 shares during the last quarter. Norges Bank purchased a new stake in Coinbase Global in the 4th quarter worth approximately $656,744,000. Finally, Amova Asset Management Americas Inc. grew its position in shares of Coinbase Global by 0.8% in the 4th quarter. Amova Asset Management Americas Inc. now owns 1,721,198 shares of the cryptocurrency exchange’s stock worth $389,215,000 after buying an additional 13,187 shares during the last quarter. 68.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 price target on shares of Coinbase Global in a research note on Friday, July 31st. Oppenheimer decreased their target price on Coinbase Global from $209.00 to $193.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Benchmark dropped their target price on shares of Coinbase Global from $270.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Argus reiterated a “hold” rating on shares of Coinbase Global in a research note on Wednesday, August 26th. Finally, Raymond James Financial began coverage on Coinbase Global in a report on Wednesday, July 22nd. They issued a “market perform” rating on the stock. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $219.97.

Coinbase Global News Summary

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

• Positive Sentiment: The revised CLARITY Act draft increased expectations that the crypto market-structure bill could advance in Tuesday’s Senate procedural vote. Clearer rules, defined agency oversight and stronger consumer protections could reduce regulatory uncertainty for Coinbase and the broader digital-asset industry. Coinbase Stock Pops After Revised Clarity Act Draft Released
• Positive Sentiment: Coinbase benefited from a wider cryptocurrency-equities rally as Bitcoin reached approximately $78,113 ahead of the Senate vote. Sustained crypto prices and trading activity generally support Coinbase’s transaction revenue and institutional demand. Cryptocurrency Equities Rally Ahead of Senate’s Historic Digital Asset Legislation Vote
• Positive Sentiment: A partnership with Moov is expected to extend Coinbase’s stablecoin custody, payments and settlement services to community banks and credit unions. The initiative could broaden stablecoin adoption and create additional institutional business opportunities. Coinbase Expands Stablecoin Reach Through Community Banks
• Neutral Sentiment: Compass Point upgraded Coinbase from “sell” to “neutral” and raised its price target from $130 to $177. The improved rating removes a bearish signal, but the target remains below the stock’s recently referenced trading level, indicating valuation concerns persist. Compass Point upgrades Coinbase Global to neutral from sell
• Neutral Sentiment: Coinbase continues promoting tokenized stocks and Base is inviting projects to tokenize non-U.S. equities, highlighting potential long-term growth in on-chain financial markets. However, Nasdaq’s reported $100 million investment in Payward signals intensifying competition in tokenized-equity infrastructure. Coinbase Says Its Tokenized Stocks Set the Standard
• Negative Sentiment: Morgan Stanley reportedly sees promise in Coinbase’s long-term business prospects but remains cautious about the current share valuation. That concern is consistent with Coinbase’s recent earnings miss and revenue decline, leaving the stock highly sensitive to crypto prices and regulatory outcomes. Morgan Stanley likes Coinbase’s future, not its stock

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Marc Andreessen sold 13,676 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $181.14, for a total value of $2,477,270.64. Following the completion of the transaction, the director directly owned 1,136,324 shares in the company, valued at $205,833,729.36. This represents a 1.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Jones sold 2,062 shares of Coinbase Global stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $188.75, for a total transaction of $389,202.50. 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 sold a total of 70,806 shares of company stock valued at $11,307,687 over the last 90 days. Company insiders own 16.66% of the company’s stock.

Coinbase Global Stock Performance

Shares of COIN opened at $191.45 on Tuesday. The company has a market cap of $50.51 billion, a price-to-earnings ratio of -49.86 and a beta of 3.39. The business’s fifty day simple moving average is $165.88 and its two-hundred day simple moving average is $176.23. Coinbase Global, Inc. has a 12 month low of $139.11 and a 12 month high of $402.16. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter last year, the company earned $5.14 EPS. Research analysts anticipate that Coinbase Global, Inc. will post -0.24 earnings per share for the current fiscal year.

Coinbase Global Profile

Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.

Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.