Ally Financial Inc. Purchases New Shares in Coinbase Global, Inc. $COIN

Key Points

• Ally Financial initiated a Coinbase position by purchasing 16,000 shares worth approximately $2.34 million in the second quarter. Institutional investors collectively own 68.84% of COIN.
• Analyst sentiment is mixed, with 18 Buy, nine Hold and five Sell ratings; the consensus rating is Hold with a price target of $215.11. Several firms recently lowered their targets, including Cantor Fitzgerald and Goldman Sachs.
• Coinbase reported a quarterly loss of $1.36 per share versus the expected $0.44 loss, while revenue of $1.22 billion declined 18.5% year over year. Insiders sold 59,079 shares worth approximately $9.14 million during the last quarter.

Ally Financial Inc. purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,000 shares of the cryptocurrency exchange's stock, valued at approximately $2,339,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of COIN. Ninepoint Partners LP purchased a new stake in Coinbase Global during the 2nd quarter valued at approximately $752,000. Bank of New York Mellon Corp purchased a new position in shares of Coinbase Global in the 2nd quarter valued at approximately $142,995,000. Trust Asset Management LLC grew its stake in shares of Coinbase Global by 4.2% in the 2nd quarter. Trust Asset Management LLC now owns 2,414 shares of the cryptocurrency exchange's stock valued at $353,000 after purchasing an additional 97 shares during the last quarter. Annex Advisory Services LLC purchased a new position in shares of Coinbase Global in the 2nd quarter valued at approximately $549,000. Finally, Tema ETFs LLC increased its holdings in shares of Coinbase Global by 7.3% in the second quarter. Tema ETFs LLC now owns 4,265 shares of the cryptocurrency exchange's stock valued at $624,000 after purchasing an additional 290 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COIN has been the subject of several analyst reports. Cantor Fitzgerald cut their price target on Coinbase Global from $250.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, August 3rd. UBS Group set a $155.00 price objective on shares of Coinbase Global in a research report on Friday, July 31st. Rothschild & Co Redburn boosted their price objective on shares of Coinbase Global from $254.00 to $263.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. B. Riley Financial cut their price objective on shares of Coinbase Global from $243.00 to $203.00 and set a "neutral" rating for the company in a research report on Monday, June 1st. Finally, The Goldman Sachs Group cut their price objective on shares of Coinbase Global from $198.00 to $173.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $215.11.

Insiders Place Their Bets

In other Coinbase Global news, CAO Jennifer N. Jones sold 2,051 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The sale was disclosed in a document filed 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 the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total transaction 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. Over the last quarter, insiders sold 59,079 shares of company stock worth $9,138,364. 16.66% of the stock is owned by corporate insiders.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: CLARITY Act optimism is the primary catalyst. President Donald Trump urged Congress to advance the legislation, while Coinbase CEO Brian Armstrong said he expects the bill to receive enough Senate support. A key cloture vote is scheduled for September 15, potentially creating clearer rules for exchanges and digital assets. Why Is Coinbase Stock Surging Friday?
• Positive Sentiment: Bitcoin’s breakout lifted crypto-linked equities. Bitcoin moved above $77,000 after rising sharply over the prior sessions, boosting expectations for higher trading activity, transaction revenue and retail engagement at Coinbase. Crypto stocks broadly rallied, with COIN among the prominent gainers. Strategy Rallies, MARA Holdings Climbs, Coinbase Jumps as Bitcoin Breaks Out
• Positive Sentiment: International expansion added support. Abu Dhabi approved Coinbase’s tokenized-securities hub, allowing regulated custody and trading of share-backed tokens in the UAE. The initiative could expand Coinbase’s institutional and tokenization-related revenue opportunities. Coinbase Gets Abu Dhabi Approval for Tokenized Securities
• Positive Sentiment: Coinbase also expanded its Base App by adding Hyperliquid perpetual futures, increasing the range of eligible crypto markets and potentially supporting trading volume.

Coinbase Global Stock Performance

NASDAQ COIN opened at $186.49 on Monday. The stock has a market capitalization of $49.20 billion, a price-to-earnings ratio of -48.56 and a beta of 3.36. The business's 50 day moving average is $158.68 and its two-hundred day moving average is $174.04. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business earned $5.14 earnings per share. The firm's quarterly revenue was down 18.5% compared to the same quarter last year. Research analysts expect that Coinbase Global, Inc. will post -0.06 EPS for the current year.

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.

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN - Free Report).

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