Coinbase Global, Inc. $COIN Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management reduced its Coinbase stake by 7.2%, selling 13,074 shares and retaining 167,975 shares valued at approximately $31.3 million. Institutional investors and hedge funds collectively own 68.84% of the company.
• Coinbase insiders sold 127,188 shares worth about $23 million over the past three months, including sales by directors Frederick Wilson and Marc Andreessen under pre-arranged 10b5-1 plans.
• Analyst sentiment is mixed, with a consensus “Hold” rating and average price target of $225.32. Coinbase recently missed quarterly earnings and revenue estimates, while regulatory fines and international restrictions add risk ahead of its next results.

Robeco Institutional Asset Management B.V. trimmed its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 7.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,975 shares of the cryptocurrency exchange's stock after selling 13,074 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of Coinbase Global worth $31,312,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fulton Bank N.A. grew its holdings in shares of Coinbase Global by 1.1% during the first quarter. Fulton Bank N.A. now owns 4,942 shares of the cryptocurrency exchange's stock worth $863,000 after buying an additional 53 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in Coinbase Global by 2.1% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 3,381 shares of the cryptocurrency exchange's stock valued at $494,000 after acquiring an additional 69 shares during the period. Aspen Grove Capital LLC raised its stake in Coinbase Global by 2.1% during the 1st quarter. Aspen Grove Capital LLC now owns 3,439 shares of the cryptocurrency exchange's stock valued at $600,000 after acquiring an additional 71 shares during the last quarter. Sage Rhino Capital LLC raised its stake in Coinbase Global by 0.4% during the 1st quarter. Sage Rhino Capital LLC now owns 17,059 shares of the cryptocurrency exchange's stock valued at $2,979,000 after acquiring an additional 74 shares during the last quarter. Finally, Armstrong Advisory Group Inc. lifted its position in Coinbase Global by 45.1% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 280 shares of the cryptocurrency exchange's stock worth $52,000 after acquiring an additional 87 shares during the period. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Buying and Selling

In related news, Director Frederick Wilson sold 35,068 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $144.32, for a total transaction of $5,061,013.76. 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 Andreessen sold 13,676 shares of Coinbase Global stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $186.18, for a total value of $2,546,197.68. Following the sale, the director owned 1,115,810 shares of the company's stock, valued at approximately $207,741,505.80. This represents a 1.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 127,188 shares of company stock worth $23,029,558. 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: Coinbase’s institutional strategy head said tokenized-stock activity on the platform is generating approximately $20 million per week and growing, although the figure remains below reported volumes at Binance. This supports the potential for new transaction and institutional revenue streams. Coinbase’s Tokenized Stocks Are Seeing About $20 Million a Week
• Positive Sentiment: Analyst coverage remains supportive ahead of Coinbase’s third-quarter results: Needham raised its price target to $205 and reiterated a Buy rating, while Zacks said trading and earnings trends could position the company for a potential earnings beat. Coinbase is scheduled to report on October 29. Why Is Coinbase Stock Surging Wednesday? Coinbase Expected to Beat Earnings Estimates
• Positive Sentiment: Coinbase said it was unaffected by recently disclosed PHP-related cybersecurity vulnerabilities, reducing concern about a near-term platform-security disruption. Coinbase Says It Was Unaffected by PHP Flaw
• Neutral Sentiment: Bitcoin’s rebound and broader crypto-market buying previously provided support for COIN, but the stock remains highly sensitive to cryptocurrency prices and trading activity.
• Negative Sentiment: Ireland’s central bank fined Coinbase Ireland €3.25 million, or about $3.6 million, for inadequate customer-fund safeguarding, weak oversight and excessive reliance on its U.S. parent. The regulator said safeguarding accounts were underfunded at times, though Coinbase indicated customers did not lose funds or access. The enforcement action is the Irish unit’s second regulatory hit in roughly a year and raises compliance-cost and reputational concerns. Coinbase Fined Again in Ireland
• Negative Sentiment: Kazakhstan is pursuing restrictions on Coinbase and other crypto platforms, potentially limiting access to the exchange in that market. Kazakhstan Seeks to Enforce Coinbase Injunction
• Negative Sentiment: Investor caution is also elevated because Coinbase recently missed quarterly earnings and revenue expectations, while analysts expect another challenging year for profitability. The Irish fine and international restrictions add to concerns about regulatory execution as the company prepares to report.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on COIN shares. Argus reissued a "hold" rating on shares of Coinbase Global in a report on Wednesday, August 26th. UBS Group set a $155.00 price target on shares of Coinbase Global in a research note on Friday, July 31st. Needham & Company LLC increased their price target on shares of Coinbase Global from $200.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday. BTIG Research restated a "buy" rating and issued a $240.00 price objective on shares of Coinbase Global in a research report on Wednesday, October 7th. Finally, Citizens Jmp lowered their price objective on Coinbase Global from $325.00 to $280.00 and set a "market outperform" rating on the stock in a report on Friday, October 9th. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global has a consensus rating of "Hold" and an average price target of $225.32.

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $169.09 on Friday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45. The company's 50-day moving average price is $179.96 and its 200 day moving average price is $175.18. Coinbase Global, Inc. has a 52 week low of $139.11 and a 52 week high of $373.25. The stock has a market cap of $44.61 billion, a price-to-earnings ratio of -44.03 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.92). Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period last year, the business earned $5.14 earnings per share. The company's revenue for the quarter was down 18.5% on a year-over-year basis. As a group, research analysts forecast that Coinbase Global, Inc. will post -0.53 earnings per share for the current fiscal year.

About Coinbase Global

Coinbase Global, Inc operates a digital-asset financial infrastructure and technology platform. Through its Coinbase platform, the company enables individuals and institutions to buy, sell, store, transfer and use cryptocurrencies and other digital assets. Its services are designed to support both retail customers and institutional participants in the digital-asset economy.

The company offers cryptocurrency trading, custody and staking services, as well as subscription products and institutional solutions.

Want to see what other hedge funds are holding COIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coinbase Global, Inc. (NASDAQ:COIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.