Flputnam Investment Management Co. Reduces Stock Holdings in Coinbase Global, Inc. $COIN

Key Points

• Flputnam Investment Management cut its Coinbase stake by 52.8% in the fourth quarter, selling 44,060 shares and leaving it with 39,454 shares valued at about $8.9 million.
• Institutional ownership in Coinbase remains high, with hedge funds and other institutions holding about 68.84% of the stock. Several firms also recently added to positions, including Vanguard and Harvest Portfolios.
• Analysts are broadly mixed but cautious on Coinbase: the consensus rating is Hold with an average price target of $252.20, even as some firms recently raised targets and issued buy ratings.

Flputnam Investment Management Co. trimmed its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 52.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,454 shares of the cryptocurrency exchange's stock after selling 44,060 shares during the quarter. Flputnam Investment Management Co.'s holdings in Coinbase Global were worth $8,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Coinbase Global by 8.3% during the 3rd quarter. Vanguard Group Inc. now owns 26,216,793 shares of the cryptocurrency exchange's stock worth $8,847,905,000 after buying an additional 2,007,930 shares during the last quarter. North Dakota State Investment Board purchased a new position in Coinbase Global during the 4th quarter worth $1,626,000. Mizuho Markets Cayman LP purchased a new position in Coinbase Global during the 4th quarter worth $33,921,000. Harvest Portfolios Group Inc. grew its stake in Coinbase Global by 21.7% during the 4th quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange's stock worth $85,159,000 after buying an additional 67,082 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in Coinbase Global during the 3rd quarter valued at about $224,663,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group boosted their price target on Coinbase Global from $151.00 to $181.00 and gave the company a "hold" rating in a research note on Thursday, April 9th. Zacks Research upgraded Coinbase Global from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 14th. Rothschild & Co Redburn boosted their price target on Coinbase Global from $254.00 to $263.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. The Goldman Sachs Group boosted their price target on Coinbase Global from $225.00 to $231.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Finally, Wedbush set a $224.00 price target on Coinbase Global in a research note on Friday, May 8th. Nineteen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, Coinbase Global presently has an average rating of "Hold" and a consensus price target of $252.20.

Insider Activity

In other news, insider Lawrence J. Brock sold 6,616 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $189.01, for a total value of $1,250,490.16. Following the completion of the transaction, the insider owned 517 shares of the company's stock, valued at $97,718.17. The trade was a 92.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 10,020 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $200.00, for a total value of $2,004,000.00. Following the completion of the transaction, the chief financial officer directly owned 397,171 shares of the company's stock, valued at approximately $79,434,200. This trade represents a 2.46% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 36,606 shares of company stock valued at $7,264,410. Insiders own 16.66% of the company's stock.

Coinbase Global Stock Performance

Shares of COIN stock opened at $173.78 on Thursday. The stock has a market cap of $45.78 billion, a PE ratio of 65.33, a price-to-earnings-growth ratio of 6.44 and a beta of 3.38. The business has a 50-day simple moving average of $189.42 and a 200-day simple moving average of $213.23. The company has a quick ratio of 2.34, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 52-week low of $139.36 and a 52-week high of $444.64.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.49 billion. Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business's quarterly revenue was down 30.5% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. On average, equities analysts expect that Coinbase Global, Inc. will post 1.72 EPS for the current year.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase expanded its institutional fiat infrastructure through a partnership with Standard Chartered, adding multi-currency funding support in six major currencies. The move should make deposits, withdrawals, and settlement easier for global institutional clients and could support longer-term trading volume. Coinbase, Standard Chartered Partner to Add 6 Currency Access
• Positive Sentiment: Coinbase also pushed further into AI-linked crypto payments with Base MCP, a tool that lets AI assistants like ChatGPT and Claude interact with wallets and execute on-chain actions. That could help position Coinbase’s Base network in an emerging “agentic commerce” trend. Base launches new tool to connect crypto wallets to AI agents
• Positive Sentiment: Coinbase upgraded its U.S. Direct Deposit product, allowing customers to automatically split paychecks between cash and crypto. This could improve user engagement and make recurring investing easier. Coinbase Automates Crypto Investing via Upgraded Direct Deposit
• Neutral Sentiment: Several commentary pieces suggest COIN may be stuck in a trading range and that valuations remain dependent on sustained crypto-market momentum rather than just product announcements. Stock Of The Day: Is This The New Range For Coinbase?
• Neutral Sentiment: Analysts also highlighted weakness in Bitcoin demand and negative Coinbase Premium signals, which point to softer crypto buying interest and can weigh on Coinbase’s near-term trading and transaction outlook. Sell in May and Walk Away” Plays Out as Bitcoin Flashes Bearish Signals
• Negative Sentiment: Insider selling from Lawrence J. Brock may be read cautiously by investors, even though the transaction was made under a pre-arranged trading plan. Coinbase Global Price Performance

Coinbase Global Profile

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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