QRG Capital Management Inc. Purchases 9,532 Shares of Coinbase Global, Inc. $COIN

Key Points

• QRG Capital Management increased its Coinbase stake by 65.4% in the first quarter, buying 9,532 additional shares and bringing its total holdings to 24,102 shares worth about $4.21 million.
• Several other institutional investors also added to their Coinbase positions, and institutions now own 68.84% of the company’s stock, signaling continued professional interest in the name.
• Coinbase faces mixed fundamentals: analysts still see upside and some positive crypto/regulatory catalysts, but the company recently posted a 30.5% revenue decline and an earnings miss, while insider selling has remained heavy.

QRG Capital Management Inc. increased its holdings in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 65.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,102 shares of the cryptocurrency exchange's stock after buying an additional 9,532 shares during the period. QRG Capital Management Inc.'s holdings in Coinbase Global were worth $4,208,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its position in shares of Coinbase Global by 24.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange's stock valued at $365,000 after acquiring an additional 413 shares during the last quarter. Empowered Funds LLC raised its stake in Coinbase Global by 25.8% in the first quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange's stock valued at $1,478,000 after purchasing an additional 1,761 shares in the last quarter. Focus Partners Wealth raised its stake in Coinbase Global by 9.9% in the first quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange's stock valued at $896,000 after purchasing an additional 467 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Coinbase Global in the second quarter valued at approximately $285,000. Finally, Cerity Partners LLC lifted its position in Coinbase Global by 8.6% during the second quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange's stock valued at $6,203,000 after purchasing an additional 1,402 shares during the last quarter. 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: CEO Brian Armstrong has been highlighting progress on the Bitcoin Clarity Act and pushing for clearer U.S. crypto rules, which could help Coinbase if regulators create a more favorable operating environment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Positive Sentiment: Coinbase is being mentioned alongside major institutions in new blockchain and stablecoin initiatives, including Morpho’s $175 million funding round and a global stablecoin effort with Visa, Mastercard, and BNY, reinforcing Coinbase’s relevance in crypto infrastructure. Morpho Secures $175M Funding from Paradigm and a16z to Scale Blockchain Credit Infrastructure Global Stablecoin Initiative Launched by Visa, Mastercard, BNY, Coinbase, Others
• Positive Sentiment: Some analysts and market commentators continue to frame Coinbase as a core crypto infrastructure play, with recent buy ratings and price targets still implying meaningful upside versus the current share price. COIN Vs. MSTR: Buy Coinbase for Pure Exchange Fees and Structural Infrastructure Moats
• Neutral Sentiment: Crypto-linked stocks are seeing a broader bounce, and Coinbase is participating in the move, but the setup looks more like sector sympathy than a company-specific catalyst. Robinhood Jumps 6% on Bullish Analyst Initiations as Coinbase, Strategy Ride a Crypto-Stock Bounce
• Negative Sentiment: Coinbase’s latest reported quarterly revenue fell 30.5% year over year, and the company missed earnings and revenue expectations, which keeps pressure on the stock’s valuation. Coinbase Global Stock Performance
• Negative Sentiment: Insider activity remains a headwind, with 61 insider sales and no insider purchases over the past six months, which may be weighing on investor sentiment. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures
• Negative Sentiment: Technical commentary in the latest discussion notes repeated tests of support levels, with traders warning that a breakdown could send shares lower. Coinbase Global Stock (COIN) Opinions on Regulatory Clarity and Market Pressures

Coinbase Global Price Performance

Shares of NASDAQ COIN opened at $165.48 on Monday. Coinbase Global, Inc. has a one year low of $139.18 and a one year high of $444.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14. The firm's 50 day simple moving average is $177.11 and its two-hundred day simple moving average is $192.43. The stock has a market capitalization of $43.60 billion, a P/E ratio of 62.21, a PEG ratio of 5.84 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The business had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the business posted $0.24 earnings per share. The company's revenue was down 30.5% compared to the same quarter last year. As a group, analysts expect that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

Insider Activity at Coinbase Global

In related news, Director Frederick R. Wilson sold 10,000 shares of Coinbase Global stock in a transaction on Monday, June 1st. The shares were sold at an average price of $181.54, for a total value of $1,815,400.00. Following the transaction, the director owned 30,000 shares in the company, valued at $5,446,200. This trade represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,647 shares of company stock worth $5,740,941 in the last 90 days. Corporate insiders own 16.66% of the company's stock.

Wall Street Analysts Forecast Growth

COIN has been the subject of a number of research reports. Rosenblatt Securities reissued a "buy" rating and issued a $240.00 price target on shares of Coinbase Global in a research note on Wednesday, June 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price objective on shares of Coinbase Global in a report on Wednesday, June 17th. Barclays reaffirmed an "underweight" rating on shares of Coinbase Global in a report on Wednesday, June 17th. President Capital increased their target price on Coinbase Global from $236.00 to $264.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings upgraded Coinbase Global from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 29th. Eighteen 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 MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $250.65.

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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