Coinbase Global, Inc. $COIN Stock Position Increased by StoneX Group Inc.

Key Points

• StoneX Group increased its Coinbase stake by 1,255.4% in the third quarter, adding 17,852 shares to hold 19,274 shares valued at about $3.59 million. Institutional investors overall own 68.84% of Coinbase shares.
• Analyst views are mixed: MarketBeat reports a consensus Hold rating and a $209.88 average price target, with several firms recently cutting targets. Coinbase shares opened at $134.76, near their 12-month low of $131.55.
• Coinbase is expanding products, including USDC borrowing backed by tokenized gold and access to Deribit derivatives for eligible institutions. Crypto-price volatility, profitability concerns, and valuation remain risks highlighted in the article.

StoneX Group Inc. boosted its position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 1,255.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,274 shares of the cryptocurrency exchange's stock after buying an additional 17,852 shares during the period. StoneX Group Inc.'s holdings in Coinbase Global were worth $3,593,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBT Bank N.A. purchased a new stake in shares of Coinbase Global during the third quarter worth approximately $28,000. Glen Eagle Advisors LLC grew its position in Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange's stock valued at $31,000 after buying an additional 88 shares during the last quarter. Archer Investment Corp grew its position in Coinbase Global by 546.4% in the 1st quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange's stock valued at $32,000 after buying an additional 153 shares during the last quarter. Root Financial Partners LLC acquired a new position in Coinbase Global in the 3rd quarter valued at $37,000. Finally, Kings Path Partners LLC purchased a new position in Coinbase Global during the third quarter worth about $37,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Coinbase Global News Roundup

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

• Positive Sentiment: Coinbase is expanding its services: eligible U.S. users can borrow USDC against tokenized gold, while Coinbase Prime now offers eligible institutions access to Deribit options and perpetual futures. These initiatives could broaden product use and revenue sources. Coinbase Enables Borrowing Against Gold via Morpho Coinbase Prime opens Deribit options and perps to eligible US institutions
• Positive Sentiment: Growing subscription revenue and cost discipline may make the business more resilient than trading fees alone would suggest, though the article also flags profitability and valuation risks. Is Coinbase Building a More Resilient and Profitable Business?
• Neutral Sentiment: Coinbase says more than 99% of customer crypto is held offline and described controls designed to limit hot-wallet exposure, after a major Binance hack raised concerns about exchange security. The reassurance may help maintain customer confidence, but the incident has also put sector-wide security risks in focus. Hackers beware: Coinbase says 99% of customer crypto is kept offline
• Negative Sentiment: Bitcoin’s drop below $76,000 in a broad market sell-off weighed on crypto-linked shares. Coinbase can move more sharply than the wider market because trading fees and earnings tend to track crypto prices and activity. Coinbase Sinks as Bitcoin Falls Below $76,000
• Negative Sentiment: Analysts also cite crypto volatility, weak underlying profits and a rich valuation as risks. Separately, Morgan Stanley’s negative reaction to the Binance breach added pressure despite Coinbase not being affected by that incident. Coinbase business resilience and risks Coinbase gets downgraded for a breach that happened elsewhere

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Coinbase Global from $237.00 to $221.00 and set an "outperform" rating for the company in a research report on Tuesday, November 3rd. Freedom Broker lowered their target price on shares of Coinbase Global from $185.00 to $175.00 and set a "buy" rating for the company in a report on Friday. Citizens Jmp lowered their price objective on shares of Coinbase Global from $325.00 to $280.00 and set a "market outperform" rating for the company in a research report on Friday, October 9th. Barclays dropped their price objective on shares of Coinbase Global from $149.00 to $120.00 and set an "underweight" rating on the stock in a research note on Friday, October 30th. Finally, HC Wainwright reissued a "buy" rating and set a $240.00 target price on shares of Coinbase Global in a research report on Friday, October 30th. Twenty-one research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $209.88.

Insider Buying and Selling

In other news, Director Marc L. Andreessen sold 13,676 shares of Coinbase Global stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $186.18, for a total value of $2,546,197.68. Following the transaction, the director directly owned 1,115,810 shares of the company's stock, valued at $207,741,505.80. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,062 shares of Coinbase Global stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $188.75, for a total transaction of $389,202.50. 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 have sold 92,120 shares of company stock worth $17,968,544. Company insiders own 16.66% of the company's stock.

Coinbase Global Stock Performance

Shares of NASDAQ:COIN opened at $134.76 on Monday. The firm has a market cap of $35.55 billion, a P/E ratio of -47.62 and a beta of 3.35. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $175.35 and a 200-day moving average of $176.27. Coinbase Global, Inc. has a twelve month low of $131.55 and a twelve month high of $324.80.

About Coinbase Global

Coinbase Global operates a cryptocurrency platform serving individual consumers, businesses and institutional clients. Its services include buying, selling and holding digital assets, as well as trading tools and cryptocurrency custody services.

The company also offers products for developers and businesses building on blockchain networks, including Base, its Ethereum layer-2 network. Coinbase supports the USDC stablecoin through its partnership with Circle and provides services such as staking and payment infrastructure.

Founded in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase is headquartered in the United States and serves customers in the U.S.

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