Signature Estate & Investment Advisors LLC Has $30.45 Million Stock Position in Coinbase Global, Inc. $COIN

Key Points

• Signature Estate & Investment Advisors LLC cut its Coinbase stake by 19% in the fourth quarter, though it still held 134,644 shares worth about $30.45 million at quarter-end.
• Coinbase is expanding beyond spot trading, with plans to launch perpetual-style equity index futures in June and further build out its derivatives and stablecoin infrastructure businesses.
• The company’s latest earnings were weak: Coinbase reported a $1.49 loss per share versus expectations for a profit, and revenue fell 30.5% year over year to $1.41 billion.

Signature Estate & Investment Advisors LLC decreased its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 19.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,644 shares of the cryptocurrency exchange's stock after selling 31,512 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Coinbase Global were worth $30,448,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. West Family Investments Inc. grew its holdings in shares of Coinbase Global by 3.3% in the 3rd quarter. West Family Investments Inc. now owns 1,029 shares of the cryptocurrency exchange's stock valued at $347,000 after acquiring an additional 33 shares in the last quarter. Forvis Mazars Wealth Advisors LLC grew its holdings in shares of Coinbase Global by 3.4% in the 3rd quarter. Forvis Mazars Wealth Advisors LLC now owns 1,040 shares of the cryptocurrency exchange's stock valued at $351,000 after acquiring an additional 34 shares in the last quarter. Waterfront Wealth Inc. grew its holdings in shares of Coinbase Global by 4.8% in the 3rd quarter. Waterfront Wealth Inc. now owns 760 shares of the cryptocurrency exchange's stock valued at $241,000 after acquiring an additional 35 shares in the last quarter. Howard Capital Management Inc. grew its holdings in shares of Coinbase Global by 2.9% in the 3rd quarter. Howard Capital Management Inc. now owns 1,284 shares of the cryptocurrency exchange's stock valued at $433,000 after acquiring an additional 36 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Coinbase Global by 1.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,913 shares of the cryptocurrency exchange's stock valued at $983,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 68.84% of the company's stock.

Coinbase Global News Summary

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

• Positive Sentiment: Coinbase said it will launch perpetual-style equity index futures in June, another step in broadening its derivatives lineup and potentially adding a new source of trading revenue. Coinbase to launch perpetual-style equity index futures in June
• Positive Sentiment: The Federal Reserve is reportedly proposing limited master accounts for crypto firms, which could improve Coinbase’s long-term access to payment rails and strengthen the industry’s regulatory footing. Federal Reserve Proposes Limited Master Accounts For Crypto Firms
• Positive Sentiment: Coinbase CEO Brian Armstrong said AI is handling most compliance work and has cut account-restriction resolution times by 90%, a sign of better efficiency and lower operating friction. Coinbase CEO Brian Armstrong Says AI Is Doing 'Most Of The Heavy Lifting' In Compliance As Resolution Times Improve By 90%
• Positive Sentiment: Coinbase is expanding its stablecoin infrastructure business through Flipcash’s USDF launch on Solana, supporting its strategy to become a broader crypto-financial platform beyond spot trading. Coinbase expands branded stablecoin infrastructure business with Flipcash USDF launch
• Neutral Sentiment: Coinbase-linked policy efforts got a boost as Fairshake and affiliated crypto PACs won several U.S. state primaries, which could help the industry’s political influence later, but the impact on near-term earnings is indirect. Fairshake PAC’s $20M backing pays off in three US state primaries
• Neutral Sentiment: Several articles noted broader crypto market weakness, negative Coinbase Premium readings, and Bitcoin outflows, which can weigh on COIN because trading activity is tied to crypto prices and volumes. Coinbase CEO Brian Armstrong Says AI Is Doing 'Most Of The Heavy Lifting' In Compliance As Resolution Times Improve By 90%
• Negative Sentiment: One report highlighted ongoing tech layoffs, including at Coinbase, reinforcing concerns about cost-cutting and a tougher operating backdrop in the sector. Grads Get Rude Welcome from Job Market Battered by AI-Fueled Tech Layoffs

Coinbase Global Trading Up 1.2%

Shares of Coinbase Global stock opened at $193.56 on Friday. The business has a fifty day simple moving average of $190.76 and a two-hundred day simple moving average of $216.96. Coinbase Global, Inc. has a 1 year low of $139.36 and a 1 year high of $444.64. The company has a market capitalization of $51.00 billion, a price-to-earnings ratio of 72.77, a P/E/G ratio of 6.97 and a beta of 3.38. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.34 and a quick ratio of 2.34.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its quarterly 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). Coinbase Global had a net margin of 12.20% and a return on equity of 4.06%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business earned $0.24 EPS. The company's revenue for the quarter was down 30.5% compared to the same quarter last year. Research analysts forecast that Coinbase Global, Inc. will post 1.75 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of Coinbase Global from $230.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Oppenheimer decreased their target price on shares of Coinbase Global from $227.00 to $224.00 in a research note on Friday, May 8th. Robert W. Baird decreased their target price on shares of Coinbase Global from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Friday, May 8th. Benchmark decreased their target price on shares of Coinbase Global from $267.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $240.00 target price on shares of Coinbase Global in a research note on Wednesday, May 6th. Nineteen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Coinbase Global currently has an average rating of "Hold" and an average target price of $252.20.

Insider Transactions at Coinbase Global

In other Coinbase Global news, CFO Alesia J. Haas sold 10,020 shares of the firm's stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $200.00, for a total transaction of $2,004,000.00. Following the completion of the sale, the chief financial officer owned 377,201 shares of the company's stock, valued at $75,440,200. This trade represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 29,990 shares of company stock worth $6,013,920. Company insiders own 16.66% of the company's stock.

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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