Assenagon Asset Management S.A. Sells 84,840 Shares of Coinbase Global, Inc. $COIN

Key Points

• Assenagon Asset Management S.A. cut its Coinbase position by 71.9% in the first quarter, selling 84,840 shares and leaving it with 33,150 shares worth about $5.8 million.
• Coinbase reported a weak first quarter, with EPS of -$1.49 versus expectations for a small profit and revenue of $1.41 billion, below consensus, while revenue fell 30.5% year over year.
• Despite mixed fundamentals and insider sales, Wall Street remains divided: analysts have a consensus “Hold” rating with an average target price of $250.65, though some firms recently raised price targets.

Assenagon Asset Management S.A. reduced its position in Coinbase Global, Inc. (NASDAQ:COIN) by 71.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,150 shares of the cryptocurrency exchange's stock after selling 84,840 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Coinbase Global were worth $5,788,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COIN. Palisade Asset Management LLC purchased a new stake in Coinbase Global in the third quarter worth $29,000. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Coinbase Global during the third quarter valued at $35,000. MV Capital Management Inc. purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $27,000. Osbon Capital Management LLC purchased a new stake in shares of Coinbase Global during the fourth quarter valued at $30,000. Finally, JPL Wealth Management LLC bought a new position in shares of Coinbase Global in the third quarter worth about $49,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Stock Up 1.7%

NASDAQ:COIN opened at $151.65 on Tuesday. Coinbase Global, Inc. has a 1-year low of $139.18 and a 1-year high of $444.64. The company has a 50-day moving average of $180.78 and a 200 day moving average of $195.43. The firm has a market cap of $39.95 billion, a PE ratio of 57.01, a price-to-earnings-growth ratio of 5.26 and a beta of 3.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. The firm's revenue was down 30.5% on a year-over-year basis. As a group, research analysts anticipate that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Mizuho raised their price target on shares of Coinbase Global from $170.00 to $200.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Barclays reissued an "underweight" rating on shares of Coinbase Global in a research report on Wednesday, June 17th. KeyCorp restated a "sector weight" rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Monness Crespi & Hardt reaffirmed a "sell" rating on shares of Coinbase Global in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Coinbase Global from $252.00 to $290.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and an average target price of $250.65.

Insider Activity

In related news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the transaction, the director directly owned 30,000 shares of the company's stock, valued at $5,446,200. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 84,753 shares of the company's stock, valued at $14,991,110.64. This trade represents a 2.26% decrease in their position. 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. In the last quarter, insiders sold 30,647 shares of company stock valued at $5,740,941. 16.66% of the stock is currently owned by corporate insiders.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Bernstein said Robinhood, Coinbase, and DraftKings could challenge established prediction-market players like Kalshi and Polymarket by launching their own exchanges, highlighting a potentially new revenue stream for COIN. Article Title
• Positive Sentiment: Coinbase is positioning itself to benefit from the rollout of the EU’s MiCA rules by trying to attract users leaving unlicensed exchanges such as Binance and Bybit, which could support international growth. Article Title
• Positive Sentiment: Several articles highlighted Coinbase’s push into “agentic commerce,” stablecoin payments, and tokenized stock infrastructure, reinforcing the long-term bull case that COIN could become a key blockchain payments platform beyond crypto trading. Article Title
• Neutral Sentiment: Coinbase remained a widely watched stock in Zacks coverage, but those pieces did not point to a specific near-term catalyst, mostly reflecting continued investor interest in the name. Article Title
• Neutral Sentiment: Coinbase CEO Brian Armstrong’s comments on keeping AI spending low and limiting risky betting promotion in Base were more about operational discipline and reputational management than an immediate earnings driver. Article Title
• Negative Sentiment: Bitcoin fell below key levels and crypto prices broadly weakened, which tends to pressure Coinbase because its trading volumes and investor sentiment are closely tied to crypto market direction. Article Title
• Negative Sentiment: A Seeking Alpha piece argued that bullish investors are overlooking the weak reality behind the stock’s setup, suggesting skepticism about Coinbase’s near-term fundamentals and valuation. Article Title
• Negative Sentiment: Base, Coinbase’s layer-2 network, disclosed a sequencer bug behind recent outages, adding operational risk and raising concerns about reliability of part of Coinbase’s broader ecosystem. Article Title

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.

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