Coinbase Global, Inc. $COIN Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,024,127 shares of the cryptocurrency exchange’s stock after selling 27,770 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Coinbase Global were worth $377,318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Readystate Asset Management LP purchased a new stake in shares of Coinbase Global during the second quarter worth about $2,587,000. State of Alaska Department of Revenue raised its position in shares of Coinbase Global by 456.7% in the third quarter. State of Alaska Department of Revenue now owns 121,330 shares of the cryptocurrency exchange’s stock valued at $22,617,000 after buying an additional 99,536 shares during the last quarter. Nykredit A S purchased a new position in shares of Coinbase Global during the second quarter valued at approximately $12,395,000. Sequoia Financial Advisors LLC lifted its stake in shares of Coinbase Global by 185.5% during the second quarter. Sequoia Financial Advisors LLC now owns 25,507 shares of the cryptocurrency exchange’s stock valued at $3,729,000 after buying an additional 16,572 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its stake in shares of Coinbase Global by 37.4% during the first quarter. First Citizens Bank & Trust Co. now owns 40,467 shares of the cryptocurrency exchange’s stock valued at $7,066,000 after buying an additional 11,020 shares during the period. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on COIN shares. Rosenblatt Securities restated a “buy” rating and set a $200.00 target price on shares of Coinbase Global in a research report on Thursday. Compass Point reiterated a “neutral” rating and issued a $187.00 price target on shares of Coinbase Global in a report on Friday, October 9th. Piper Sandler increased their price target on Coinbase Global from $146.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. Barclays reduced their price target on Coinbase Global from $149.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods started coverage on Coinbase Global in a report on Monday, September 28th. They set an “outperform” rating and a $237.00 price objective on the stock. Twenty research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of “Hold” and a consensus target price of $216.57.

Coinbase Global Trading Down 10.6%

COIN stock opened at $143.54 on Friday. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. The company has a market cap of $37.87 billion, a price-to-earnings ratio of -50.72 and a beta of 3.41. The business has a fifty day simple moving average of $179.74 and a 200-day simple moving average of $178.82. Coinbase Global, Inc. has a 52 week low of $136.89 and a 52 week high of $361.40.

Coinbase Global (NASDAQ:COIN) last issued its earnings results 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. Coinbase Global had a negative net margin of 12.46% and a positive return on equity of 0.76%. Coinbase Global’s revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.14 EPS. On average, equities research analysts expect that Coinbase Global, Inc. will post -0.50 EPS for the current year.

Insider Transactions at Coinbase Global

In other news, CAO Jennifer Jones sold 2,062 shares of Coinbase Global stock in a transaction dated Monday, August 24th. The stock was 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 through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc Andreessen sold 13,676 shares of Coinbase Global stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $186.18, for a total value of $2,546,197.68. Following the completion of the transaction, the director directly owned 1,115,810 shares in the company, valued at $207,741,505.80. This represents a 1.21% 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. In the last 90 days, insiders have sold 127,188 shares of company stock valued at $23,029,558. 16.66% of the stock is owned by company insiders.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase reported third-quarter net income of approximately $719 million, or $2.51 diluted EPS, exceeding expectations and ending a three-quarter losing streak. Lower operating expenses and gains on the company’s crypto holdings were major contributors. Coinbase net income surges 66% in third quarter
• Positive Sentiment: Coinbase is diversifying beyond spot crypto trading: subscription and services revenue represented about 49% of net revenue, while prediction markets surpassed a $200 million annualized revenue run rate. Management is also targeting stablecoins, tokenized assets and AI-agent payments. Coinbase Q3 earnings call highlights
• Positive Sentiment: The Binance breach could create an opportunity for Coinbase to attract customers seeking a regulated exchange and stronger custody safeguards. Several analysts retained bullish ratings, including HC Wainwright, BTIG and Cantor Fitzgerald. Binance hack could benefit Coinbase
• Neutral Sentiment: Goldman Sachs maintained a Buy rating but reduced its price target to $210, while Needham lowered its target to $197. These targets imply substantial upside but reflect increased near-term uncertainty.
• Neutral Sentiment: Coinbase said customer funds remained safe after an analytics-vendor incident involving contact information for a small subset of customers. The exchange also applied for authorization to continue operating under Brazil’s new crypto rules. Coinbase customer funds statement
• Negative Sentiment: Total revenue fell about 35% year over year to $1.22 billion, while transaction revenue declined sharply as crypto spot-trading volume weakened. Early fourth-quarter transaction revenue also suggested that trading conditions had not materially improved. Weak trading revenue pressures Coinbase
• Negative Sentiment: Investors questioned the quality of the profit because roughly $715 million came from crypto investment gains, leaving adjusted net income near $78 million. Barclays cut its rating to Underweight and lowered its price target to $120; Wells Fargo also reduced its target to $174.
• Negative Sentiment: The Binance hack triggered a broad crypto-equity selloff and raised concerns about stablecoin concentration and control risk, as Circle froze approximately $800 million in USDC and Coinbase reportedly holds nearly 30% of outstanding USDC. Insider sales have also added pressure, with no reported open-market purchases in the past six months. Coinbase USDC concentration

Coinbase Global Profile

Coinbase Global, Inc operates a digital-asset financial infrastructure and technology platform. Through its Coinbase platform, the company enables individuals and institutions to buy, sell, store, transfer and use cryptocurrencies and other digital assets. Its services are designed to support both retail customers and institutional participants in the digital-asset economy.

The company offers cryptocurrency trading, custody and staking services, as well as subscription products and institutional solutions.