Capital World Investors Boosts Holdings in Coinbase Global, Inc. $COIN

Key Points

• Capital World Investors dramatically increased its Coinbase stake by 847.2% in the fourth quarter, ending with 1.54 million shares valued at about $347.5 million.
• Several other institutions also added to or initiated positions in COIN, and hedge funds and other institutional investors now own 68.84% of the company.
• Coinbase recently reported a miss on both earnings and revenue, with Q1 EPS of -$1.49 versus estimates for a profit and revenue down 30.5% year over year; analysts currently rate the stock a consensus Hold with an average price target of $250.23.

Capital World Investors grew its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 847.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,536,534 shares of the cryptocurrency exchange's stock after buying an additional 1,374,318 shares during the quarter. Capital World Investors owned 0.57% of Coinbase Global worth $347,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in COIN. Integrated Wealth Concepts LLC grew its holdings in shares of Coinbase Global by 24.2% during the 1st 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 during the last quarter. Empowered Funds LLC grew its holdings in shares of Coinbase Global by 25.8% during the 1st 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 last quarter. Focus Partners Wealth grew its holdings in shares of Coinbase Global by 9.9% during the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange's stock valued at $896,000 after purchasing an additional 467 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Coinbase Global during the 2nd quarter valued at $285,000. Finally, Cerity Partners LLC grew its holdings in shares of Coinbase Global by 8.6% during the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange's stock valued at $6,203,000 after purchasing an additional 1,402 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company's stock.

Insider Activity at Coinbase Global

In other news, insider Lawrence J. Brock sold 6,616 shares of Coinbase Global stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the sale, the insider owned 517 shares of the company's stock, valued at approximately $97,718.17. The trade was a 92.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the sale, the insider directly owned 84,753 shares in the company, valued at $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. Over the last quarter, insiders sold 38,546 shares of company stock worth $7,422,495. 16.66% of the stock is currently owned by company insiders.

Coinbase Global Price Performance

Shares of Coinbase Global stock opened at $162.11 on Tuesday. The firm has a market cap of $42.71 billion, a PE ratio of 60.94, a price-to-earnings-growth ratio of 5.28 and a beta of 3.32. Coinbase Global, Inc. has a 12-month low of $139.36 and a 12-month high of $444.64. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. The company's fifty day simple moving average is $185.83 and its two-hundred day simple moving average is $206.49.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced 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). The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.Coinbase Global's revenue was down 30.5% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. As a group, equities analysts expect that Coinbase Global, Inc. will post 1.77 EPS for the current year.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Bitcoin’s rebound above $63,000 is helping lift crypto-linked stocks, and Coinbase often trades as a high-beta proxy for the digital asset market. Why Coinbase (COIN) Stock Is Trading Up Today
• Positive Sentiment: More than 200 crypto groups, including Coinbase, urged the Senate to vote on the Clarity Act, which could improve regulatory visibility for the industry and support Coinbase’s long-term business outlook. Over 200 Crypto Groups Urge Senate Clarity Act Vote
• Positive Sentiment: Coinbase is highlighting new growth opportunities such as crypto-backed mortgages and broader financial use cases for digital assets, which could expand its ecosystem beyond trading. Could Bitcoin Help You Buy Your Next Home? Coinbase Thinks It's Possible.
• Neutral Sentiment: Coinbase CEO Brian Armstrong said the company is using cheaper AI models where possible to keep costs roughly flat while growing token usage, a sign of expense discipline rather than a direct near-term revenue driver. The cost-saving AI measure Coinbase's CEO is taking to keep costs 'roughly flat' while growing token usage
• Negative Sentiment: Some recent coverage says Wall Street is losing faith in Coinbase as Bitcoin weakens, and analysts have also trimmed price targets, showing that sentiment can reverse quickly if crypto prices fall again. As Bitcoin Prices Plunge, Wall Street Is Losing Faith in Coinbase Stock

Analyst Upgrades and Downgrades

Several equities analysts recently commented on COIN shares. Mizuho increased their target price on shares of Coinbase Global from $170.00 to $200.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. UBS Group set a $264.00 target price on shares of Coinbase Global in a report on Friday, February 13th. Rosenblatt Securities reaffirmed a "buy" rating and set a $240.00 target price on shares of Coinbase Global in a report on Wednesday, May 6th. Cantor Fitzgerald increased their target price on shares of Coinbase Global from $221.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, April 21st. Finally, Monness Crespi & Hardt reissued a "sell" rating on shares of Coinbase Global in a report on Friday. Nineteen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $250.23.

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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