EULAV Asset Management Acquires 28,000 Shares of Coinbase Global, Inc. $COIN

Key Points

• EULAV Asset Management boosted its Coinbase stake by 31.5% in the fourth quarter, buying 28,000 additional shares to bring its total to 117,000 shares worth about $26.5 million.
• Institutional ownership remains heavy, with firms like Vanguard and Harvest Portfolios also increasing positions; overall, 68.84% of Coinbase’s stock is held by institutional investors.
• Coinbase is drawing mixed signals from Wall Street: several analysts have trimmed price targets amid weak trading volumes and crypto market pressure, while the stock also faces scrutiny from recent insider sales.

EULAV Asset Management raised its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 117,000 shares of the cryptocurrency exchange's stock after acquiring an additional 28,000 shares during the quarter. EULAV Asset Management's holdings in Coinbase Global were worth $26,458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Coinbase Global by 8.3% during the third quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange's stock worth $8,847,905,000 after acquiring an additional 2,007,930 shares during the last quarter. North Dakota State Investment Board acquired a new stake in Coinbase Global during the fourth quarter worth approximately $1,626,000. Mizuho Markets Cayman LP acquired a new stake in Coinbase Global during the fourth quarter worth approximately $33,921,000. Harvest Portfolios Group Inc. lifted its position in Coinbase Global by 21.7% during the fourth quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange's stock worth $85,159,000 after acquiring an additional 67,082 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Coinbase Global by 303.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 20,316 shares of the cryptocurrency exchange's stock worth $4,594,000 after acquiring an additional 15,282 shares during the last quarter. 68.84% of the stock is owned by institutional investors.

More Coinbase Global News

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

• Positive Sentiment: Coinbase is expanding into new products with its SpaceX pre-IPO perpetual futures launch for overseas users, a move that could open up a new, higher-margin trading category and support long-term growth. Article Title
• Positive Sentiment: Coinbase and Better Mortgage completed the first U.S. Bitcoin-backed home loan approved by Fannie Mae, highlighting Coinbase’s push into real-world crypto utility and financial infrastructure. Article Title
• Positive Sentiment: Coinbase CEO Brian Armstrong’s comments on U.S.-China competition reinforce the company’s long-term growth narrative and pro-innovation image. Article Title
• Neutral Sentiment: Coinbase remains widely watched by investors, with high web traffic and analyst attention keeping the stock in focus, though this alone does not change fundamentals. Article Title
• Negative Sentiment: Baird lowered its price target on Coinbase to $142 and flagged weak trading volumes, implying that crypto activity may stay soft for longer than bulls hoped. Article Title
• Negative Sentiment: Bitcoin’s continued selloff and broader crypto weakness are pressuring Coinbase shares by reducing expected trading volume and investor risk appetite. Article Title
• Negative Sentiment: A Coinbase director sold 10,000 shares in a pre-arranged transaction, which can add to cautious sentiment even if it was not a discretionary sale. Article Title

Analyst Ratings Changes

Several brokerages have issued reports on COIN. Piper Sandler cut their price objective on shares of Coinbase Global from $180.00 to $170.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. Citizens Jmp cut their price objective on shares of Coinbase Global from $400.00 to $355.00 and set a "market outperform" rating for the company in a research report on Friday, April 10th. Mizuho raised their price objective on shares of Coinbase Global from $170.00 to $200.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 12th. The Goldman Sachs Group raised their price objective on shares of Coinbase Global from $226.00 to $228.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Finally, HC Wainwright cut their price objective 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. Nineteen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Coinbase Global currently has an average rating of "Hold" and an average target price of $250.23.

Coinbase Global Stock Performance

COIN opened at $152.40 on Friday. The firm has a market cap of $40.15 billion, a P/E ratio of 57.29, a price-to-earnings-growth ratio of 5.68 and a beta of 3.32. Coinbase Global, Inc. has a 52-week low of $139.36 and a 52-week high of $444.64. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.14 and a current ratio of 2.14. The business's fifty day moving average is $186.06 and its 200-day moving average is $207.59.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($1.55). The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business's revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. Sell-side analysts expect that Coinbase Global, Inc. will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Frederick R. Wilson sold 10,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $181.54, for a total transaction of $1,815,400.00. Following the sale, the director directly owned 30,000 shares of the company's stock, valued at approximately $5,446,200. This represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 that occurred on Wednesday, May 27th. The shares were sold at an average price of $176.88, for a total transaction of $346,684.80. Following the completion of the transaction, the insider directly owned 84,753 shares in the company, valued at $14,991,110.64. This trade represents a 2.26% decrease in their ownership of the stock. 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 sold 38,546 shares of company stock valued at $7,422,495. Company insiders own 16.66% of the company's stock.

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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