Partners Wealth Management LLC Makes New $42.55 Million Investment in Coinbase Global, Inc. $COIN

Key Points

• Partners Wealth Management LLC purchased 228,280 Coinbase shares worth approximately $42.55 million in the third quarter, making Coinbase its second-largest holding at 4.4% of the portfolio.
• Institutional investors own 68.84% of Coinbase, with several major funds increasing or initiating positions. However, insiders sold 127,188 shares worth roughly $23.0 million during the quarter.
• Coinbase shares opened at $160.59, well below their 12-month high of $361.40. Analysts’ consensus rating is “Hold”, with an average price target of $220.91, while the company recently missed quarterly earnings and revenue estimates.

Partners Wealth Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 228,280 shares of the cryptocurrency exchange's stock, valued at approximately $42,554,000. Coinbase Global makes up about 4.4% of Partners Wealth Management LLC's portfolio, making the stock its 2nd biggest holding. Partners Wealth Management LLC owned 0.09% of Coinbase Global at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Coinbase Global during the 2nd quarter worth about $142,995,000. Southpoint Capital Advisors LP bought a new stake in shares of Coinbase Global in the 1st quarter valued at about $104,766,000. National Pension Service raised its holdings in shares of Coinbase Global by 117.1% in the 2nd quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange's stock valued at $93,784,000 after purchasing an additional 346,045 shares during the period. Assenagon Asset Management S.A. lifted its stake in Coinbase Global by 103.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 314,338 shares of the cryptocurrency exchange's stock valued at $58,889,000 after purchasing an additional 159,636 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Coinbase Global by 456.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 121,330 shares of the cryptocurrency exchange's stock valued at $22,617,000 after purchasing an additional 99,536 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company's stock.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Marc L. Andreessen sold 6,838 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $198.00, for a total transaction of $1,353,924.00. Following the transaction, the director owned 1,108,972 shares in the company, valued at $219,576,456. This trade represents a 0.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $178.93, for a total value of $1,789,300.00. 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 127,188 shares of company stock valued at $23,029,558. Company insiders own 16.66% of the company's stock.

Coinbase Global Trading Down 1.1%

Shares of NASDAQ:COIN opened at $160.59 on Friday. Coinbase Global, Inc. has a 12-month low of $139.11 and a 12-month high of $361.40. The stock has a market cap of $42.37 billion, a PE ratio of -41.82 and a beta of 3.41. The business has a 50 day moving average of $180.32 and a 200-day moving average of $179.32. 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 posted its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.92). The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. Coinbase Global's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $5.14 EPS. As a group, equities research analysts forecast that Coinbase Global, Inc. will post -0.47 earnings per share for the current year.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase reported third-quarter net income of approximately $719 million, reversing a three-quarter loss streak. Revenue of $1.22 billion and adjusted EPS of roughly $0.27–$0.28 exceeded consensus expectations, while operating expenses fell 13% sequentially. Coinbase snaps losing streak with third-quarter profit on crypto trading rebound
• Positive Sentiment: Subscription and services revenue increased 3% sequentially to $570.2 million, representing 49% of revenue. Coinbase One subscribers reached a record, and prediction-market revenue surpassed a $200 million annualized rate, supporting the company’s diversification beyond spot crypto trading. Coinbase Q3 Highlights
• Positive Sentiment: Coinbase expanded its stablecoin ecosystem by listing Ripple’s RLUSD across its retail, exchange and institutional platforms. Growing USDC balances, stablecoin payments and partnerships could create more recurring revenue and reduce reliance on trading fees. Ripple Brings Its Stablecoin to Coinbase’s Trading Platforms
• Positive Sentiment: Rosenblatt Securities reaffirmed a buy rating and assigned a $200 price target, implying substantial upside from recent trading levels. Coinbase also applied for a Brazilian crypto-service-provider license, helping protect its existing operations in an important market. Rosenblatt Securities rating
• Neutral Sentiment: Management projects fourth-quarter subscription and services revenue of $550 million to $630 million. The range suggests continued diversification, but also indicates possible sequential softness at the midpoint. Coinbase Q4 subscription revenue guidance
• Negative Sentiment: Reported profit was largely driven by a roughly $715 million gain on Coinbase’s crypto investments; adjusted net income was only about $78 million. Revenue fell 35% year over year to $1.22 billion, and transaction revenue declined slightly despite market-share gains, highlighting continued sensitivity to crypto prices and volumes. Coinbase Profit Is Mostly Crypto Gains
• Negative Sentiment: Insider selling remains a significant overhang: reported open-market activity showed 71 insider sales and no purchases over the past six months, while senior executives are reportedly planning substantial share sales. Coinbase Posts $719 Million Q3 Net Income
• Negative Sentiment: Customer contact data was exposed through analytics vendor Amplitude, although Coinbase said its systems and customer funds were not compromised. European stablecoin restrictions, a €3.25 million Irish regulatory fine and ongoing compliance costs add further risk. Coinbase denies systems breach

Analyst Ratings Changes

A number of equities analysts recently commented on the company. William Blair reiterated an "outperform" rating on shares of Coinbase Global in a report on Tuesday, September 22nd. BTIG Research restated a "buy" rating and issued a $240.00 price objective on shares of Coinbase Global in a research note on Wednesday, October 7th. Benchmark cut their price objective on Coinbase Global from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Piper Sandler raised their price objective on Coinbase Global from $146.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday, October 2nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $212.00 target price on shares of Coinbase Global in a research note on Monday, August 31st. Twenty research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $220.91.

Coinbase Global Profile

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.

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