Coinbase Global, Inc. $COIN Holdings Lifted by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its Coinbase stake by 26% in the second quarter, holding 30,358 shares valued at approximately $4.6 million. Institutional investors collectively own 68.84% of Coinbase’s outstanding stock.
• Analyst sentiment remains mixed: 19 analysts rate Coinbase a Buy, 12 a Hold and three a Sell, resulting in a consensus Hold rating and an average price target of $219.97.
• Coinbase reported a weaker-than-expected quarter, with an EPS loss of $1.36 versus the $0.44 consensus estimate and revenue of $1.22 billion, down 18.5% year over year. Shares opened at $195.11, while insiders have sold more than $20.7 million in stock over the past 90 days.

QRG Capital Management Inc. raised its stake in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 26.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,358 shares of the cryptocurrency exchange's stock after buying an additional 6,256 shares during the quarter. QRG Capital Management Inc.'s holdings in Coinbase Global were worth $4,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in Coinbase Global by 13.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 44,011 shares of the cryptocurrency exchange's stock valued at $6,586,000 after buying an additional 5,343 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Coinbase Global by 185.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 25,507 shares of the cryptocurrency exchange's stock worth $3,729,000 after buying an additional 16,572 shares during the last quarter. Whetstone Capital Advisors LLC grew its stake in shares of Coinbase Global by 86.3% during the second quarter. Whetstone Capital Advisors LLC now owns 47,048 shares of the cryptocurrency exchange's stock worth $6,878,000 after acquiring an additional 21,788 shares during the last quarter. National Pension Service raised its holdings in shares of Coinbase Global by 117.1% in the second quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange's stock worth $93,784,000 after buying an additional 346,045 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Coinbase Global in the second quarter valued at about $417,000. Institutional investors own 68.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on COIN shares. HC Wainwright reissued a "buy" rating and set a $265.00 price target on shares of Coinbase Global in a report on Friday, July 31st. KeyCorp reissued a "sector weight" rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Morgan Stanley started coverage on shares of Coinbase Global in a research note on Thursday, September 10th. They set an "equal weight" rating and a $250.00 target price on the stock. Raymond James Financial started coverage on Coinbase Global in a research report on Wednesday, July 22nd. They set a "market perform" rating for the company. Finally, Oppenheimer cut their price target 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. Nineteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Coinbase Global presently has a consensus rating of "Hold" and a consensus target price of $219.97.

Coinbase Global News Summary

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

• Positive Sentiment: More than one-third of the world’s 20 largest banks reportedly use Coinbase infrastructure, strengthening the case for institutional demand for its custody, trading and digital-asset services. Global banks use Coinbase infrastructure
• Positive Sentiment: Coinbase’s tokenized-stock activity on Base has surpassed $1 billion in volume, while seven tokenized equities can now be used as collateral for USDC loans on Aave V4. These developments could increase transaction, lending and stablecoin activity across Coinbase’s ecosystem. Coinbase tokenized stocks exceed one billion dollars in volume
• Positive Sentiment: Coinbase customers can request shares in Oura’s IPO, expanding the company beyond crypto trading and potentially creating new customer-engagement and capital-markets revenue opportunities. Coinbase and Oura IPO access
• Positive Sentiment: Base processed roughly 7.5 million transactions in one day, supporting Coinbase’s “everything exchange” strategy, although the long-term value depends on sustained users and economic activity rather than transaction counts alone. Base transaction activity
• Neutral Sentiment: Compass Point upgraded Coinbase from “sell” to “neutral,” offering a modest improvement in analyst sentiment but not a bullish recommendation.
• Neutral Sentiment: Riot Platforms repaid its Coinbase credit facility in full. The repayment reduces Coinbase’s lending exposure, but may also limit interest income from that facility. Riot repays Coinbase credit facility
• Negative Sentiment: Directors Marc Andreessen and Alesia Haas disclosed stock sales, adding to near-term selling pressure, although at least one transaction was conducted under a pre-arranged Rule 10b5-1 plan.
• Negative Sentiment: Competition is increasing as OG.com, alongside Coinbase and other platforms, seeks approval to offer 24-hour perpetual futures on individual U.S. stocks. OG.com seeks approval for stock perpetual futures
• Negative Sentiment: Coinbase’s latest reported quarter showed a sizable EPS miss, lower-than-expected revenue and an 18.5% year-over-year revenue decline. The company also faces reputational concerns after a phishing scheme targeting approximately 100 users caused nearly $16 million in losses.

Insider Activity at Coinbase Global

In related news, CAO Jennifer N. Jones sold 2,062 shares of the firm's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $188.75, for a total value of $389,202.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Marc L. Andreessen sold 13,676 shares of Coinbase Global stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $181.14, for a total transaction of $2,477,270.64. Following the transaction, the director owned 1,136,324 shares in the company, valued at $205,833,729.36. The trade was a 1.19% 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. Insiders have sold 116,674 shares of company stock worth $20,720,336 in the last 90 days. Company insiders own 16.66% of the company's stock.

Coinbase Global Trading Down 2.1%

Shares of Coinbase Global stock opened at $195.11 on Friday. The company has a market capitalization of $51.48 billion, a P/E ratio of -50.81 and a beta of 3.39. The business has a 50 day moving average price of $170.99 and a 200 day moving average price of $176.25. Coinbase Global, Inc. has a 1 year low of $139.11 and a 1 year high of $402.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing the consensus estimate 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%. The company's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.14 EPS. Sell-side analysts anticipate that Coinbase Global, Inc. will post -0.24 EPS for the current fiscal year.

Coinbase Global Company Profile

Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.

Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.

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