Assenagon Asset Management S.A. Purchases 159,636 Shares of Coinbase Global, Inc. $COIN

Key Points

• Institutional buying increased: Assenagon Asset Management more than doubled its Coinbase position, purchasing 159,636 additional shares and ending the quarter with 314,338 shares worth approximately $58.9 million. Institutional investors collectively own 68.84% of COIN.
• Analyst sentiment is mixed: Coinbase has an average “Hold” rating and a consensus price target of $224.44, with 20 Buy, 13 Hold, and 3 Sell ratings.
• Recent operating performance remains weak: Coinbase’s latest quarter missed consensus estimates for both earnings and revenue, with revenue down 18.5% year over year and a net loss of $1.36 per share. The stock opened at $173.16 and remains well below its 12-month high of $373.25.

Assenagon Asset Management S.A. lifted its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 103.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,338 shares of the cryptocurrency exchange's stock after purchasing an additional 159,636 shares during the quarter. Assenagon Asset Management S.A. owned 0.12% of Coinbase Global worth $58,889,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in Coinbase Global by 456.7% during the third quarter. State of Alaska Department of Revenue now owns 121,330 shares of the cryptocurrency exchange's stock worth $22,617,000 after buying an additional 99,536 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Coinbase Global during the 3rd quarter valued at about $200,000. Mather Group LLC. boosted its position in shares of Coinbase Global by 164.4% during the 3rd quarter. Mather Group LLC. now owns 1,822 shares of the cryptocurrency exchange's stock valued at $340,000 after acquiring an additional 1,133 shares in the last quarter. Godsey & Gibb Inc. boosted its position in shares of Coinbase Global by 13,833.3% during the 3rd quarter. Godsey & Gibb Inc. now owns 836 shares of the cryptocurrency exchange's stock valued at $156,000 after acquiring an additional 830 shares in the last quarter. Finally, N10 Wealth LLC bought a new stake in Coinbase Global in the third quarter valued at about $235,000. 68.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Frederick Wilson sold 35,068 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $144.32, for a total value of $5,061,013.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia Haas sold 39,030 shares of the stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $205.24, for a total value of $8,010,517.20. Following the sale, the chief financial officer owned 345,376 shares in the company, valued at approximately $70,884,970.24. This trade represents a 10.15% decrease in their ownership of the stock. 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 127,188 shares of company stock valued at $23,029,558 over the last quarter. 16.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on COIN shares. Raymond James Financial began coverage on shares of Coinbase Global in a research report on Wednesday, July 22nd. They issued a "market perform" rating for the company. Compass Point restated a "neutral" rating and set a $187.00 price target on shares of Coinbase Global in a research note on Friday, October 9th. Citigroup lifted their price objective on Coinbase Global from $210.00 to $230.00 and gave the company a "buy" rating in a report on Tuesday. Oppenheimer lowered their price objective on Coinbase Global from $209.00 to $193.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Finally, Keefe, Bruyette & Woods began coverage on Coinbase Global in a research note on Monday, September 28th. They issued 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 company. According to data from MarketBeat, Coinbase Global presently has an average rating of "Hold" and an average target price of $224.44.

Coinbase Global Trading Down 5.8%

Shares of COIN stock opened at $173.16 on Friday. Coinbase Global, Inc. has a 12-month low of $139.11 and a 12-month high of $373.25. The company has a market capitalization of $45.69 billion, a P/E ratio of -45.09 and a beta of 3.41. The firm has a 50-day moving average price of $178.25 and a 200 day moving average price of $175.12. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS 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 15.72% and a positive return on equity of 3.12%. Coinbase Global's quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter last year, the firm earned $5.14 earnings per share. Research analysts forecast that Coinbase Global, Inc. will post -0.50 earnings per share for the current fiscal year.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase and Marqeta are expanding a partnership to develop stablecoin-backed payment cards for global businesses using Coinbase’s Base network. The initiative could create additional transaction and payments revenue while broadening practical use of stablecoins. Coinbase Strikes Marqeta Deal but COIN Loses 3%
• Positive Sentiment: Crypto-aligned political action committees, including groups funded in part by Coinbase, have increased spending in Ohio’s Senate race. The spending may support candidates viewed as more favorable to crypto regulation, potentially improving the company’s long-term policy environment. Crypto PACs escalate spending against Sherrod Brown in Ohio Senate race
• Neutral Sentiment: The SEC reportedly approved regulated binary options tied to metrics such as Coinbase trading volume. The products could increase institutional access to crypto-related exposure, although they do not directly improve Coinbase’s operating results. SEC Crypto: What do the Coinbase and MARA Binary Options Mean?
• Neutral Sentiment: Concerns that advances in quantum computing could eventually threaten Bitcoin’s cryptographic security have prompted Coinbase to urge developers to prepare quantum-resistant upgrades. The risk appears long term but could add to investor concerns about digital-asset infrastructure. Google Quantum Cuts Errors 40-Fold: Is Bitcoin Ready?
• Negative Sentiment: Taiwan blocked Coinbase’s website under a court order connected to an investigation of election betting. Although the action appears localized and does not necessarily allege wrongdoing by Coinbase, it highlights regulatory and reputational risks surrounding prediction-market activity. Taiwan Blocks Coinbase and Kalshi Over Bets on Its November Elections
• Negative Sentiment: Analysts and recent coverage point to weak crypto trading conditions, earnings pressure, and a roughly 24% year-to-date decline in COIN. Coinbase’s latest reported quarter also missed consensus estimates for both earnings and revenue, reinforcing concerns about near-term profitability. Coinbase Global Stock Drops 24% YTD: Time to Buy the Dip?

About Coinbase Global

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.

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