150,000 Shares in Coinbase Global, Inc. $COIN Purchased by Mizuho Markets Cayman LP

Key Points

• Mizuho Markets Cayman LP opened a new position in Coinbase Global during the fourth quarter, buying 150,000 shares valued at about $33.9 million. The stake represented roughly 1.7% of its portfolio and made Coinbase its 13th largest holding.
• Coinbase’s latest earnings were weak, with the company reporting ($1.49) EPS versus expectations for a small profit and revenue of $1.41 billion, which also missed estimates. Revenue fell 30.5% year over year.
• The stock remains heavily followed by institutions and analysts, with institutions owning 68.84% of shares and Wall Street holding a mixed view: the consensus rating is Hold with an average target price of $252.20.

Mizuho Markets Cayman LP acquired a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 150,000 shares of the cryptocurrency exchange's stock, valued at approximately $33,921,000. Coinbase Global makes up about 1.7% of Mizuho Markets Cayman LP's portfolio, making the stock its 13th largest position. Mizuho Markets Cayman LP owned approximately 0.06% of Coinbase Global at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. West Family Investments Inc. boosted its stake in Coinbase Global by 3.3% during the third quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange's stock worth $347,000 after acquiring an additional 33 shares in the last quarter. Forvis Mazars Wealth Advisors LLC boosted its stake in Coinbase Global by 3.4% during the third quarter. Forvis Mazars Wealth Advisors LLC now owns 1,040 shares of the cryptocurrency exchange's stock worth $351,000 after acquiring an additional 34 shares in the last quarter. Waterfront Wealth Inc. boosted its stake in Coinbase Global by 4.8% during the third quarter. Waterfront Wealth Inc. now owns 760 shares of the cryptocurrency exchange's stock worth $241,000 after acquiring an additional 35 shares in the last quarter. Howard Capital Management Inc. boosted its stake in Coinbase Global by 2.9% during the third quarter. Howard Capital Management Inc. now owns 1,284 shares of the cryptocurrency exchange's stock worth $433,000 after acquiring an additional 36 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Coinbase Global by 1.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,913 shares of the cryptocurrency exchange's stock worth $983,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

Shares of COIN opened at $184.99 on Friday. The company has a market capitalization of $48.74 billion, a P/E ratio of 69.55, a price-to-earnings-growth ratio of 7.05 and a beta of 3.38. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $190.49 and a 200 day moving average of $216.73. Coinbase Global, Inc. has a twelve month low of $139.36 and a twelve month high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.06%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business earned $0.24 EPS. Coinbase Global's revenue was down 30.5% on a year-over-year basis. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 1.75 earnings per share for the current fiscal year.

Trending Headlines about Coinbase Global

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

• Negative Sentiment: Bitcoin and Ethereum fell, weighing on crypto-related stocks and dragging Coinbase lower alongside other trading platforms like Robinhood. Coinbase and Other Crypto Stocks Are Falling. Several Possible Reasons for the Bad Day.
• Negative Sentiment: Crypto market sentiment has been hurt by Bitcoin slipping into the mid-$70,000s, a negative Coinbase premium, and reports of institutional selling and ETF outflows, all of which point to softer near-term trading volumes for Coinbase. Coinbase premium hits monthly low as institutional selling pressure mounts
• Neutral Sentiment: Coinbase continues to expand its product set, including launching perpetual-style equity index futures in June and supporting new stablecoin infrastructure, which could help diversify revenue over time. Traders Get AI, Defense, and China Perp Futures on Coinbase Starting June 8
• Neutral Sentiment: Management also highlighted AI-driven compliance improvements and faster resolution times, which is supportive for operating efficiency but not enough to offset the crypto selloff today. Coinbase CEO Brian Armstrong Says AI Is Doing 'Most Of The Heavy Lifting' In Compliance As Resolution Times Improve By 90%

Insider Buying and Selling at Coinbase Global

In other news, CFO Alesia J. Haas sold 10,020 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the transaction, the chief financial officer directly owned 397,171 shares of the company's stock, valued at $79,434,200. The trade was a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 29,990 shares of company stock worth $6,013,920 over the last three months. 16.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COIN has been the topic of several research reports. Zacks Research raised shares of Coinbase Global from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 14th. Canaccord Genuity Group dropped their price objective on shares of Coinbase Global from $400.00 to $300.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Bank of America dropped their target price on shares of Coinbase Global from $288.00 to $234.00 in a research note on Thursday, April 2nd. Jefferies Financial Group increased their price target on shares of Coinbase Global from $151.00 to $181.00 and gave the company a "hold" rating in a report on Thursday, April 9th. Finally, HC Wainwright reduced their price target on shares of Coinbase Global from $350.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Nineteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $252.20.

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.

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