NEOS Investment Management LLC Acquires 3,617 Shares of Coinbase Global, Inc. $COIN

NEOS Investment Management LLC raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 11.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,349 shares of the cryptocurrency exchange’s stock after buying an additional 3,617 shares during the period. NEOS Investment Management LLC’s holdings in Coinbase Global were worth $5,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in COIN. Burford Brothers Inc. lifted its position in shares of Coinbase Global by 1.7% in the second quarter. Burford Brothers Inc. now owns 7,326 shares of the cryptocurrency exchange’s stock worth $1,071,000 after buying an additional 120 shares during the last quarter. ParaFi Capital LP lifted its stake in shares of Coinbase Global by 3.7% in the second quarter. ParaFi Capital LP now owns 13,484 shares of the cryptocurrency exchange’s stock valued at $1,971,000 after buying an additional 484 shares during the period. Nykredit A S bought a new position in Coinbase Global during the second quarter valued at about $4,413,000. EMC Capital Management bought a new position in Coinbase Global during the second quarter valued at about $292,000. Finally, Proficio Capital Partners LLC acquired a new position in Coinbase Global in the 2nd quarter valued at approximately $302,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on COIN shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $208.00 price objective on shares of Coinbase Global in a research report on Wednesday, June 17th. BTIG Research cut their target price on Coinbase Global from $260.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Piper Sandler reduced their target price on Coinbase Global from $155.00 to $146.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Needham & Company LLC decreased their price target on shares of Coinbase Global from $220.00 to $177.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, HC Wainwright reissued a “buy” rating and issued a $265.00 price target on shares of Coinbase Global in a report on Friday, July 31st. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, Coinbase Global presently has an average rating of “Hold” and a consensus price target of $216.87.

Key Headlines Impacting Coinbase Global

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

• Positive Sentiment: U.S. equity perpetuals could expand revenue: Coinbase filed SEC notices covering plans to offer 24/7 single-stock perpetual futures to U.S. traders. The products could broaden Coinbase’s derivatives business and strengthen its “everything exchange” strategy, although Commodity Futures Trading Commission approval is still required and launch details remain undisclosed. Coinbase Brings 24/7 Stock Perpetuals to the US
• Positive Sentiment: International derivatives expansion: Coinbase launched regulated crypto derivatives trading in Canada, adding perpetual and dated contracts tied to major digital assets. The launch may increase trading volume, diversify revenue and support its global growth strategy. Can Canada’s Derivatives Launch Boost Coinbase’s Global Growth?
• Positive Sentiment: Crypto-policy optimism remains supportive: Investors continue to watch potential U.S. crypto market-structure legislation, including a Senate procedural vote expected September 15. Clearer rules could benefit Coinbase as a regulated exchange and custody provider.
• Neutral Sentiment: Board and investor-outreach updates: Coinbase added Anthony Armstrong, former CFO of xAI and X, to its board and plans appearances at upcoming Citi and Goldman Sachs conferences. These developments may provide strategic updates but do not change near-term earnings expectations.
• Negative Sentiment: Macro pressure on crypto assets: The hotter-than-expected jobs report increased the prospect of higher-for-longer interest rates, weighing on Bitcoin and other risk assets. Lower crypto prices and trading activity can reduce Coinbase’s transaction revenue, despite the possibility that higher rates support stablecoin income. Coinbase Slides as Hot Jobs Report Dents 10% Rally
• Negative Sentiment: Mixed analyst and insider signals: Zacks placed COIN on its “Strong Sell” list, while a director sold 10,000 shares for approximately $1.79 million under a pre-arranged Rule 10b5-1 plan. Coinbase also recently reported an earnings and revenue miss, with revenue down year over year. New Strong Sell Stocks for September 3rd

Coinbase Global Price Performance

NASDAQ COIN opened at $184.64 on Monday. Coinbase Global, Inc. has a 1-year low of $139.11 and a 1-year high of $402.16. The company has a market capitalization of $48.72 billion, a price-to-earnings ratio of -48.08 and a beta of 3.39. The stock’s 50 day moving average is $163.48 and its two-hundred day moving average is $175.61. 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 earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the company posted $5.14 earnings per share. Equities analysts forecast that Coinbase Global, Inc. will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jennifer N. Jones sold 2,062 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $188.75, for a total value of $389,202.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total transaction of $1,789,300.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 57,130 shares of company stock worth $8,830,416 over the last quarter. Company insiders own 16.66% of the company’s stock.

Coinbase Global 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.