Quantinno Capital Management LP Acquires 27,732 Shares of Coinbase Global, Inc. $COIN

Quantinno Capital Management LP lifted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 17.2% in the 1st quarter, HoldingsChannel reports. The fund owned 188,995 shares of the cryptocurrency exchange’s stock after purchasing an additional 27,732 shares during the period. Quantinno Capital Management LP’s holdings in Coinbase Global were worth $33,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Southpoint Capital Advisors LP bought a new position in Coinbase Global in the 1st quarter valued at about $104,766,000. Delta Global Management LP acquired a new position in Coinbase Global during the 1st quarter valued at about $502,000. OMERS ADMINISTRATION Corp boosted its stake in Coinbase Global by 36.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 8,503 shares of the cryptocurrency exchange’s stock valued at $1,485,000 after purchasing an additional 2,277 shares during the last quarter. Lombard Odier Asset Management Switzerland SA bought a new stake in Coinbase Global during the 1st quarter worth approximately $353,000. Finally, Waverly Advisors LLC increased its holdings in Coinbase Global by 9.6% during the 1st quarter. Waverly Advisors LLC now owns 2,598 shares of the cryptocurrency exchange’s stock worth $454,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total value of $346,684.80. Following the sale, the insider owned 84,753 shares in the company, valued at $14,991,110.64. The trade was 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 sold a total of 30,627 shares of company stock worth $5,327,841 in the last ninety days. Company insiders own 16.66% of the company’s stock.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase captured a record 10.3% share of global crypto trading volume, up from 9.1% in the first quarter, indicating that it is gaining market share even as overall industry activity weakens. The company also highlighted growth in derivatives, stablecoins, tokenized finance, prediction markets and subscription services. Coinbase Q2 results and record market share
• Positive Sentiment: A Manhattan federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, including claims involving matched customer transactions. The ruling could reduce legal exposure, although remaining claims may still create risk. Coinbase customer lawsuit ruling
• Neutral Sentiment: Management is lobbying for the Senate’s CLARITY Act, which could establish clearer crypto-market rules and potentially make it easier for Coinbase to expand products and attract institutional and retail customers. Passage and timing remain uncertain. CLARITY Act implications for Coinbase
• Negative Sentiment: Coinbase reported a GAAP net loss of $359.5 million, or $1.36 per diluted share, versus analysts’ expected loss of roughly $122 million, while revenue fell 18.5% year over year to $1.22 billion, below estimates near $1.29 billion to $1.31 billion. This marked the company’s third consecutive quarterly loss and its third straight revenue and earnings miss. Coinbase third-quarterly loss report
• Negative Sentiment: Lower spot-crypto trading volumes and subdued market volatility reduced transaction revenue and outweighed gains in subscription and services revenue. The results raise doubts about whether Coinbase can quickly diversify beyond its traditional exchange business.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $163.58 on Friday. Coinbase Global, Inc. has a twelve month low of $139.18 and a twelve month high of $402.16. The stock’s 50 day moving average price is $164.00 and its 200-day moving average price is $181.97. The company has a market capitalization of $43.10 billion, a PE ratio of 61.50, a PEG ratio of 10.30 and a beta of 3.35. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business’s revenue was down 30.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. On average, equities analysts anticipate that Coinbase Global, Inc. will post 1.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COIN. KeyCorp restated a “sector weight” rating on shares of Coinbase Global in a report on Wednesday, June 17th. Piper Sandler decreased their price target on Coinbase Global from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Wednesday, July 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Raymond James Financial started coverage on Coinbase Global in a research note on Wednesday, July 22nd. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group raised their price objective on Coinbase Global from $226.00 to $228.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $233.61.

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.