NewEdge Advisors LLC Decreases Stock Position in Coinbase Global, Inc. $COIN

NewEdge Advisors LLC lowered its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 50.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,298 shares of the cryptocurrency exchange's stock after selling 32,106 shares during the quarter. NewEdge Advisors LLC's holdings in Coinbase Global were worth $4,575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its holdings in Coinbase Global by 10.8% in the second quarter. IFP Advisors Inc now owns 9,134 shares of the cryptocurrency exchange's stock valued at $1,335,000 after buying an additional 887 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Coinbase Global by 34.1% during the 2nd quarter. Baird Financial Group Inc. now owns 47,202 shares of the cryptocurrency exchange's stock valued at $6,900,000 after buying an additional 12,002 shares during the last quarter. Allworth Financial LP raised its stake in Coinbase Global by 210.2% during the second quarter. Allworth Financial LP now owns 11,666 shares of the cryptocurrency exchange's stock worth $1,705,000 after acquiring an additional 7,905 shares during the period. Arizona State Retirement System grew its stake in Coinbase Global by 72.4% during the 2nd quarter. Arizona State Retirement System now owns 102,633 shares of the cryptocurrency exchange's stock worth $15,004,000 after buying an additional 43,109 shares during the last quarter. Finally, Waverly Advisors LLC grew its stake in Coinbase Global by 1,311.3% during the 2nd quarter. Waverly Advisors LLC now owns 36,666 shares of the cryptocurrency exchange's stock worth $5,360,000 after buying an additional 34,068 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COIN has been the subject of several recent research reports. Compass Point upgraded shares of Coinbase Global from a "sell" rating to a "neutral" rating and upped their price target for the stock from $130.00 to $177.00 in a research report on Monday. BTIG Research cut their price target on Coinbase Global from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, July 31st. KeyCorp reaffirmed a "sector weight" rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Wolfe Research set a $325.00 price target on Coinbase Global in a research note on Thursday, July 9th. Finally, Morgan Stanley initiated coverage on shares of Coinbase Global in a report on Thursday. They issued an "equal weight" rating and a $250.00 price objective for the company. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Coinbase Global currently has an average rating of "Hold" and a consensus target price of $219.97.

Coinbase Global Trading Up 9.2%

Shares of COIN opened at $191.45 on Tuesday. The stock's 50-day moving average price is $165.88 and its 200 day moving average price is $176.23. The firm has a market capitalization of $50.51 billion, a price-to-earnings ratio of -49.86 and a beta of 3.39. Coinbase Global, Inc. has a 12-month low of $139.11 and a 12-month high of $402.16. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45.

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 the consensus estimate of ($0.44) by ($0.92). The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.Coinbase Global's quarterly revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.14 earnings per share. As a group, research analysts predict that Coinbase Global, Inc. will post -0.24 earnings per share for the current year.

Coinbase Global News Roundup

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

• Positive Sentiment: The revised CLARITY Act draft increased expectations that the crypto market-structure bill could advance in Tuesday’s Senate procedural vote. Clearer rules, defined agency oversight and stronger consumer protections could reduce regulatory uncertainty for Coinbase and the broader digital-asset industry. Coinbase Stock Pops After Revised Clarity Act Draft Released
• Positive Sentiment: Coinbase benefited from a wider cryptocurrency-equities rally as Bitcoin reached approximately $78,113 ahead of the Senate vote. Sustained crypto prices and trading activity generally support Coinbase’s transaction revenue and institutional demand. Cryptocurrency Equities Rally Ahead of Senate’s Historic Digital Asset Legislation Vote
• Positive Sentiment: A partnership with Moov is expected to extend Coinbase’s stablecoin custody, payments and settlement services to community banks and credit unions. The initiative could broaden stablecoin adoption and create additional institutional business opportunities. Coinbase Expands Stablecoin Reach Through Community Banks
• Neutral Sentiment: Compass Point upgraded Coinbase from “sell” to “neutral” and raised its price target from $130 to $177. The improved rating removes a bearish signal, but the target remains below the stock’s recently referenced trading level, indicating valuation concerns persist. Compass Point upgrades Coinbase Global to neutral from sell
• Neutral Sentiment: Coinbase continues promoting tokenized stocks and Base is inviting projects to tokenize non-U.S. equities, highlighting potential long-term growth in on-chain financial markets. However, Nasdaq’s reported $100 million investment in Payward signals intensifying competition in tokenized-equity infrastructure. Coinbase Says Its Tokenized Stocks Set the Standard
• Negative Sentiment: Morgan Stanley reportedly sees promise in Coinbase’s long-term business prospects but remains cautious about the current share valuation. That concern is consistent with Coinbase’s recent earnings miss and revenue decline, leaving the stock highly sensitive to crypto prices and regulatory outcomes. Morgan Stanley likes Coinbase’s future, not its stock

Insider Buying and Selling at Coinbase Global

In other news, Director Marc L. Andreessen sold 13,676 shares of Coinbase Global stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $181.14, for a total transaction of $2,477,270.64. Following the completion of the transaction, the director directly owned 1,136,324 shares in the company, valued at approximately $205,833,729.36. The trade was a 1.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 35,068 shares of Coinbase Global stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $144.32, for a total value of $5,061,013.76. 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 ninety days, insiders sold 70,806 shares of company stock valued at $11,307,687. Company insiders own 16.66% of the company's stock.

Coinbase Global 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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