Bank of Nova Scotia Sells 165,340 Shares of Coinbase Global, Inc. $COIN

Key Points

• Bank of Nova Scotia reduced its Coinbase stake by 78.6% in the first quarter, selling 165,340 shares and retaining 44,920 shares valued at approximately $7.84 million. Institutional investors still own 68.84% of Coinbase’s outstanding stock.
• Coinbase reported a quarterly loss of $1.49 per share, missing the $0.06 consensus estimate, while revenue fell 30.5% year over year to $1.41 billion. The stock opened at $158.29, well below its 52-week high of $402.16.
• Insiders sold 30,627 shares worth about $5.33 million over the past 90 days, while analysts maintain a consensus “Hold” rating and an average price target of $239.14.

Bank of Nova Scotia cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 78.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,920 shares of the cryptocurrency exchange's stock after selling 165,340 shares during the quarter. Bank of Nova Scotia's holdings in Coinbase Global were worth $7,843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COIN. Integrated Wealth Concepts LLC lifted its position in shares of Coinbase Global by 24.2% during the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange's stock valued at $365,000 after purchasing an additional 413 shares in the last quarter. Empowered Funds LLC grew its holdings in Coinbase Global by 25.8% during the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange's stock valued at $1,478,000 after purchasing an additional 1,761 shares during the period. Focus Partners Wealth increased its holdings in Coinbase Global by 9.9% in the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange's stock worth $896,000 after acquiring an additional 467 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Coinbase Global in the second quarter worth about $285,000. Finally, Cerity Partners LLC grew its stake in Coinbase Global by 8.6% in the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange's stock valued at $6,203,000 after buying an additional 1,402 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global Price Performance

NASDAQ COIN opened at $158.29 on Monday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 52 week low of $139.18 and a 52 week high of $402.16. The company has a market capitalization of $41.70 billion, a P/E ratio of 59.51, a price-to-earnings-growth ratio of 10.19 and a beta of 3.35. The stock's 50-day moving average price is $166.18 and its 200-day moving average price is $184.25.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period in the previous year, the company earned $0.24 EPS. Coinbase Global's revenue for the quarter was down 30.5% compared to the same quarter last year. On average, equities research analysts predict that Coinbase Global, Inc. will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $159.09, for a total transaction of $1,590,900.00. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $3,181,800. This trade represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the company's 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 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 30,627 shares of company stock valued at $5,327,841. 16.66% of the stock is currently owned by insiders.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase unveiled new AI-agent payment infrastructure for business accounts, including support for USDC payments, automated trading tools, and a developer SDK. That reinforces the company’s push into stablecoin and AI-enabled payments, which could open new revenue streams. Coinbase Unveils AI Agent Payment Infrastructure for Business Accounts
• Positive Sentiment: Coinbase is expanding in Singapore, with plans to grow headcount and deepen its institutional and engineering presence in the region. Investors may view the move as evidence of international growth beyond the U.S. market. Coinbase to expand Singapore office headcount by 25%: report
• Positive Sentiment: Coinbase also participated in the launch of the Bitcoin Security Consortium alongside firms like BlackRock and Block, which may be seen as a credibility boost for the company’s role in crypto infrastructure. BlackRock, Coinbase, Strategy Among Nine Firms Launching the Bitcoin Security Consortium
• Neutral Sentiment: Raymond James began coverage on Coinbase Global, adding another analyst voice to the name, but the article provided no new rating or thesis details. Raymond James Financial Begins Coverage on Coinbase Global NASDAQ: COIN
• Neutral Sentiment: Some commentary suggests Coinbase could benefit even if the CLARITY Act stalls, since clearer crypto rules and broader market adoption still support the platform’s long-term business case. How Coinbase stock could win even if the Clarity Act loses
• Negative Sentiment: Near-term investor sentiment is being weighed down by uncertainty around U.S. crypto legislation, with reports saying the Senate CLARITY Act faces political roadblocks and analysts have cut price targets ahead of earnings. That likely explains some of the weakness in Coinbase Global (COIN) shares today. Coinbase (COIN) Stock Drops 3% Amid Senate Crypto Bill Uncertainty
• Negative Sentiment: Citi lowered its price target on Coinbase from $400 to $235, echoing earlier cuts from JPMorgan. Even with a bullish rating, the reduced valuation can pressure sentiment ahead of the company’s upcoming earnings report. Analyst cuts Coinbase price target 40% ahead of Q2 earnings
• Negative Sentiment: Coinbase disclosed a 50-minute outage caused by a configuration error that disrupted transfers, debit card purchases, and onchain services. Operational hiccups like this can hurt confidence in the platform’s reliability. Coinbase Reveals How One Configuration Error Triggered a 50-Minute Outage

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. B. Riley Financial decreased their target price on shares of Coinbase Global from $243.00 to $203.00 and set a "neutral" rating on the stock in a report on Monday, June 1st. Oppenheimer cut their target price on Coinbase Global from $224.00 to $209.00 and set an "outperform" rating for the company in a research note on Thursday, July 16th. HC Wainwright cut their price target on shares of Coinbase Global from $350.00 to $310.00 and set a "buy" rating for the company in a research report on Friday, May 8th. President Capital raised their target price on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, Rothschild & Co Redburn raised their target price on Coinbase Global from $254.00 to $263.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Eighteen research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Coinbase Global has a consensus rating of "Hold" and an average target price of $239.14.

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.

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