Bank of New York Mellon Corp Invests $143 Million in Coinbase Global, Inc. $COIN

Key Points

• Bank of New York Mellon acquired 978,144 Coinbase shares worth approximately $143 million, representing about 0.37% of the company. Institutional investors and hedge funds collectively own 68.84% of COIN.
• Coinbase faces mixed financial results: it reported a quarterly loss of $1.36 per share versus the expected $0.44 loss, while revenue of $1.22 billion fell 18.5% year over year and missed estimates.
• Analyst sentiment remains mixed, with 18 Buy, nine Hold and five Sell ratings; the stock has an average rating of Hold and an average price target of $215.11.

Bank of New York Mellon Corp acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 978,144 shares of the cryptocurrency exchange's stock, valued at approximately $142,995,000. Bank of New York Mellon Corp owned about 0.37% of Coinbase Global at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COIN. Norges Bank bought a new position in shares of Coinbase Global in the fourth quarter worth about $656,744,000. Capital World Investors raised its holdings in Coinbase Global by 847.2% during 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 last quarter. Southpoint Capital Advisors LP bought a new position in Coinbase Global during the 1st quarter worth approximately $104,766,000. Janus Henderson Group PLC lifted its position in shares of Coinbase Global by 2,597.8% in the 4th quarter. Janus Henderson Group PLC now owns 549,304 shares of the cryptocurrency exchange's stock worth $124,221,000 after purchasing an additional 528,943 shares during the period. Finally, Cria Inc. acquired a new stake in Coinbase Global during the 4th quarter worth about $111,184,000. 68.84% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Upgrades and Downgrades

COIN has been the topic of several recent research reports. The Goldman Sachs Group cut their price target on Coinbase Global from $198.00 to $173.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Rosenblatt Securities reiterated a "buy" rating and set a $240.00 price target on shares of Coinbase Global in a report on Tuesday, July 28th. HC Wainwright reissued a "buy" rating and issued a $265.00 price target on shares of Coinbase Global in a research report on Friday, July 31st. Canaccord Genuity Group restated a "buy" rating and set a $300.00 price objective on shares of Coinbase Global in a research note on Friday, July 31st. Finally, Benchmark decreased their price target on Coinbase Global from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $215.11.

Insider Activity

In related news, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total value of $324,365.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 dated Wednesday, May 27th. The shares were 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 in the company, valued at approximately $14,991,110.64. The trade was a 2.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 59,079 shares of company stock worth $9,138,364 in the last three months. Corporate insiders own 16.66% of the company's stock.

Coinbase Global Stock Performance

Shares of COIN opened at $186.49 on Monday. Coinbase Global, Inc. has a twelve month low of $139.11 and a twelve month high of $402.16. The stock has a market cap of $49.20 billion, a PE ratio of -48.56 and a beta of 3.36. 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 business's 50-day moving average price is $158.68 and its 200-day moving average price is $174.04.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data 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 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%. Coinbase Global's revenue was down 18.5% compared to the same quarter last year. During the same quarter last year, the business posted $5.14 earnings per share. On average, equities analysts forecast that Coinbase Global, Inc. will post -0.06 EPS for the current fiscal 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.

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