Assenagon Asset Management S.A. Acquires 121,552 Shares of Coinbase Global, Inc. $COIN

Key Points

• Assenagon Asset Management increased its Coinbase stake by 366.7% in the second quarter, acquiring 121,552 additional shares and ending the period with 154,702 shares valued at approximately $22.6 million.
• Institutional investors own 68.84% of Coinbase, although insiders have sold 65,695 shares worth about $10.4 million over the past 90 days, including a director’s $5.1 million sale under a Rule 10b5-1 plan.
• Coinbase reported a weaker-than-expected quarter, with a $1.36 per-share loss and $1.22 billion in revenue, down 18.5% year over year. Analysts’ consensus rating is “Hold,” with an average price target of $215.11.

Assenagon Asset Management S.A. lifted its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 366.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,702 shares of the cryptocurrency exchange's stock after acquiring an additional 121,552 shares during the period. Assenagon Asset Management S.A. owned 0.06% of Coinbase Global worth $22,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Coinbase Global in the 4th quarter valued at approximately $656,744,000. Capital World Investors raised its position in Coinbase Global by 847.2% in the 4th quarter. Capital World Investors now owns 1,536,534 shares of the cryptocurrency exchange's stock worth $347,472,000 after purchasing an additional 1,374,318 shares during the period. Ruffer LLP bought a new stake in Coinbase Global in the fourth quarter worth about $166,515,000. Southpoint Capital Advisors LP purchased a new position in shares of Coinbase Global during the first quarter valued at approximately $104,766,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Coinbase Global by 2,597.8% during the 4th quarter. Janus Henderson Group PLC now owns 549,304 shares of the cryptocurrency exchange's stock worth $124,221,000 after acquiring an additional 528,943 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insiders Place Their Bets

In other news, Director Frederick R. Wilson sold 35,068 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $144.32, for a total transaction of $5,061,013.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of the firm's 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 completion of the sale, the insider directly owned 84,753 shares of the company's stock, valued at $14,991,110.64. The trade was a 2.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 65,695 shares of company stock worth $10,388,854. 16.66% of the stock is currently owned by company insiders.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Coinbase reported that revenue from its prediction-markets business grew 106% sequentially, highlighting a potentially fast-growing product category and diversification beyond traditional cryptocurrency trading. Prediction markets take center stage in earnings reports
• Positive Sentiment: Coinbase launched 24/5 trading in nearly 4,000 U.S. stocks for eligible U.K. users, offering fractional shares, zero commissions and funding through pounds or USDC. The move could broaden customer engagement and create additional stablecoin-related activity. Coinbase brings U.S. stocks to U.K. users
• Positive Sentiment: Coinbase and Circle renewed their USDC partnership through 2029 on unchanged terms, preserving Coinbase’s existing commercial arrangement as USDC supply and usage continue to expand. Coinbase and Circle renew USDC partnership
• Neutral Sentiment: Coinbase CEO Brian Armstrong continues lobbying for the CLARITY Act, which could provide clearer rules for the crypto industry. However, prediction-market odds for passage in 2026 have fallen sharply, leaving the timing and ultimate impact uncertain. CLARITY Act vote outlook
• Negative Sentiment: Zacks Research downgraded Coinbase to “strong sell,” adding to concerns about the company’s earnings outlook and valuation. Zacks strong sell list
• Negative Sentiment: A Coinbase director sold 35,068 shares worth approximately $5.1 million. The sale was conducted under a pre-arranged Rule 10b5-1 plan, which reduces its signaling value but may still weigh on sentiment. Coinbase director insider sale
• Negative Sentiment: Coinbase’s latest quarter showed a $1.36 per-share loss, wider than expected, while revenue missed estimates and declined 18.5% year over year. The weak results remain a significant fundamental headwind.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $153.60 on Monday. 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 capitalization of $40.53 billion, a price-to-earnings ratio of -40.00 and a beta of 3.36. Coinbase Global, Inc. has a 52 week low of $139.11 and a 52 week high of $402.16. The firm has a 50 day moving average of $159.95 and a 200 day moving average of $177.88.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. During the same period in the previous year, the business earned $5.14 EPS. Coinbase Global's revenue for the quarter was down 18.5% compared to the same quarter last year. On average, sell-side analysts predict that Coinbase Global, Inc. will post -0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COIN has been the subject of a number of recent analyst reports. Weiss Ratings cut Coinbase Global from a "hold (c-)" rating to a "sell (d)" rating in a report on Friday, July 31st. President Capital lifted their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Needham & Company LLC lowered their price objective on shares of Coinbase Global from $220.00 to $177.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Mizuho set a $155.00 target price on shares of Coinbase Global in a research note on Friday, July 31st. Finally, Barclays reduced their target price on shares of Coinbase Global from $99.00 to $95.00 and set an "underweight" rating on the stock in a research report on Friday, July 31st. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $215.11.

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.

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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