Sumitomo Mitsui Trust Group Inc. Sells 27,770 Shares of Coinbase Global, Inc. $COIN

Key Points

• Sumitomo Mitsui Trust Group reduced its Coinbase position by 1.4%, selling 27,770 shares and retaining 2.02 million shares valued at approximately $377.3 million. Institutional investors and hedge funds collectively own 68.84% of Coinbase.
• Coinbase shares fell 10.6% to $143.54, near the lower end of their 52-week range. The company’s latest reported quarter missed expectations, with a $1.36 loss per share and revenue of $1.22 billion, down 18.5% year over year.
• Analyst sentiment remains mixed: Coinbase has a consensus “Hold” rating and an average price target of $216.57, while recent insider activity has been negative, with insiders selling 127,188 shares worth approximately $23 million over the past 90 days.

Sumitomo Mitsui Trust Group Inc. reduced its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 1.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,024,127 shares of the cryptocurrency exchange's stock after selling 27,770 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.77% of Coinbase Global worth $377,318,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Coinbase Global during the third quarter worth about $10,669,000. Profund Advisors LLC raised its holdings in Coinbase Global by 11.3% during the third quarter. Profund Advisors LLC now owns 2,075 shares of the cryptocurrency exchange's stock worth $387,000 after purchasing an additional 210 shares in the last quarter. Vise Technologies Inc. lifted its position in Coinbase Global by 59.6% in the third quarter. Vise Technologies Inc. now owns 6,999 shares of the cryptocurrency exchange's stock valued at $1,305,000 after purchasing an additional 2,613 shares during the period. MGO One Seven LLC lifted its position in Coinbase Global by 17.2% in the third quarter. MGO One Seven LLC now owns 2,572 shares of the cryptocurrency exchange's stock valued at $479,000 after purchasing an additional 378 shares during the period. Finally, Greenup Street Wealth Management LLC lifted its position in Coinbase Global by 12.7% in the third quarter. Greenup Street Wealth Management LLC now owns 14,186 shares of the cryptocurrency exchange's stock valued at $2,644,000 after purchasing an additional 1,597 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Coinbase Global Trading Down 10.6%

NASDAQ:COIN opened at $143.54 on Friday. The company has a market capitalization of $37.87 billion, a PE ratio of -50.72 and a beta of 3.41. 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, Inc. has a 52-week low of $136.89 and a 52-week high of $361.40. The stock has a fifty day simple moving average of $179.74 and a 200-day simple moving average of $178.82.

Coinbase Global (NASDAQ:COIN - Get Free Report) last released its quarterly earnings data 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 business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.29 billion. Coinbase Global had a positive return on equity of 0.76% and a negative net margin of 12.46%. Coinbase Global's quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.14 earnings per share. On average, equities research analysts expect that Coinbase Global, Inc. will post -0.50 earnings per share for the current fiscal year.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase reported third-quarter net income of approximately $719 million, or $2.51 diluted EPS, exceeding expectations and ending a three-quarter losing streak. Lower operating expenses and gains on the company’s crypto holdings were major contributors. Coinbase net income surges 66% in third quarter
• Positive Sentiment: Coinbase is diversifying beyond spot crypto trading: subscription and services revenue represented about 49% of net revenue, while prediction markets surpassed a $200 million annualized revenue run rate. Management is also targeting stablecoins, tokenized assets and AI-agent payments. Coinbase Q3 earnings call highlights
• Positive Sentiment: The Binance breach could create an opportunity for Coinbase to attract customers seeking a regulated exchange and stronger custody safeguards. Several analysts retained bullish ratings, including HC Wainwright, BTIG and Cantor Fitzgerald. Binance hack could benefit Coinbase
• Neutral Sentiment: Goldman Sachs maintained a Buy rating but reduced its price target to $210, while Needham lowered its target to $197. These targets imply substantial upside but reflect increased near-term uncertainty.
• Neutral Sentiment: Coinbase said customer funds remained safe after an analytics-vendor incident involving contact information for a small subset of customers. The exchange also applied for authorization to continue operating under Brazil’s new crypto rules. Coinbase customer funds statement
• Negative Sentiment: Total revenue fell about 35% year over year to $1.22 billion, while transaction revenue declined sharply as crypto spot-trading volume weakened. Early fourth-quarter transaction revenue also suggested that trading conditions had not materially improved. Weak trading revenue pressures Coinbase
• Negative Sentiment: Investors questioned the quality of the profit because roughly $715 million came from crypto investment gains, leaving adjusted net income near $78 million. Barclays cut its rating to Underweight and lowered its price target to $120; Wells Fargo also reduced its target to $174.
• Negative Sentiment: The Binance hack triggered a broad crypto-equity selloff and raised concerns about stablecoin concentration and control risk, as Circle froze approximately $800 million in USDC and Coinbase reportedly holds nearly 30% of outstanding USDC. Insider sales have also added pressure, with no reported open-market purchases in the past six months. Coinbase USDC concentration

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Frederick R. Wilson sold 35,068 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $144.32, for a total value of $5,061,013.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,062 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $188.75, for a total transaction of $389,202.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 127,188 shares of company stock valued at $23,029,558. Insiders own 16.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COIN. Raymond James Financial began coverage on Coinbase Global in a report on Wednesday, July 22nd. They issued a "market perform" rating on the stock. Wall Street Zen raised Coinbase Global from a "strong sell" rating to a "sell" rating in a research note on Saturday. The Goldman Sachs Group reduced their price target on Coinbase Global from $244.00 to $210.00 and set a "buy" rating for the company in a report on Friday. Barclays decreased their price target on Coinbase Global from $149.00 to $120.00 and set an "underweight" rating on the stock in a research note on Friday. Finally, Zacks Research raised Coinbase Global from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 9th. Twenty equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $216.57.

About Coinbase Global

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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