Verdence Capital Advisors LLC Purchases 7,077 Shares of Coinbase Global, Inc. $COIN

Key Points

• Verdence Capital Advisors acquired 7,077 Coinbase shares worth approximately $1.32 million in the third quarter. Institutional investors collectively own 68.84% of Coinbase’s stock.
• Analyst sentiment is mixed, with a consensus “Hold” rating and average price target of $222.16; individual targets range from $155 to $240.
• Coinbase is expanding beyond crypto trading through stablecoin listings, payments partnerships, derivatives and Bitcoin-backed loans, although its latest quarter missed estimates and revenue fell 18.5% year over year.

Verdence Capital Advisors LLC acquired a new stake in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,077 shares of the cryptocurrency exchange's stock, valued at approximately $1,319,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COIN. Archer Investment Corp acquired a new stake in shares of Coinbase Global during the 2nd quarter valued at about $26,000. NBT Bank N.A. purchased a new position in shares of Coinbase Global in the 3rd quarter valued at about $28,000. Glen Eagle Advisors LLC increased its stake in shares of Coinbase Global by 101.1% in the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange's stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. Kings Path Partners LLC acquired a new position in Coinbase Global in the 3rd quarter worth about $37,000. Finally, Root Financial Partners LLC acquired a new position in Coinbase Global in the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

More Coinbase Global News

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

• Positive Sentiment: RLUSD listing expands stablecoin activity: Coinbase added Ripple’s RLUSD stablecoin across its retail, exchange and institutional platforms, including support for the XRP Ledger, Base and Ethereum. The listing could increase trading volume, liquidity and fee opportunities while strengthening Coinbase’s role as a distribution platform for digital-dollar products. Coinbase Adds Ripple’s RLUSD Stablecoin
• Positive Sentiment: Stablecoin and payments growth support diversification: Analysts highlighted record USDC balances of roughly $20 billion, banking partnerships and Coinbase’s collaboration with Thunes to connect stablecoins with local bank accounts and mobile wallets. These initiatives could create more recurring revenue beyond cryptocurrency trading. Stablecoin Adoption Analysis
• Positive Sentiment: New financial products broaden revenue potential: Coinbase introduced fixed-rate Bitcoin-backed loans, while its expansion into derivatives, prediction markets, tokenized stocks and AI-related applications offers additional long-term growth avenues. Coinbase Fixed-Rate Bitcoin-Backed Loans

Analysts Set New Price Targets

Several brokerages have commented on COIN. Rosenblatt Securities reissued a "buy" rating and issued a $240.00 price objective on shares of Coinbase Global in a report on Tuesday, July 28th. Mizuho set a $155.00 price objective on Coinbase Global in a research report on Friday, July 31st. Oppenheimer reduced their target price on Coinbase Global from $209.00 to $193.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. BTIG Research reiterated a "buy" rating and set a $240.00 target price on shares of Coinbase Global in a research report on Wednesday, October 7th. Finally, Robert W. Baird lifted their price target on shares of Coinbase Global from $130.00 to $205.00 and gave the company a "neutral" rating in a research note on Monday, September 28th. Twenty analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Coinbase Global currently has a consensus rating of "Hold" and an average target price of $222.16.

Coinbase Global Price Performance

NASDAQ:COIN opened at $162.32 on Thursday. Coinbase Global, Inc. has a 12 month low of $139.11 and a 12 month high of $361.40. The stock has a 50 day moving average of $180.31 and a two-hundred day moving average of $179.72. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45. The firm has a market cap of $42.83 billion, a P/E ratio of -42.27 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN - Get Free Report) last announced its earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.92). The firm had revenue of $1.22 billion for 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 was down 18.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.14 EPS. On average, analysts expect that Coinbase Global, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Coinbase Global

In other Coinbase Global news, Director Marc L. Andreessen sold 6,838 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $198.00, for a total value of $1,353,924.00. Following the transaction, the director owned 1,108,972 shares in the company, valued at approximately $219,576,456. This trade represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alesia J. Haas sold 39,030 shares of Coinbase Global stock in a transaction on Monday, September 21st. The stock was sold at an average price of $205.24, for a total transaction of $8,010,517.20. Following the sale, the chief financial officer directly owned 345,376 shares in the company, valued at approximately $70,884,970.24. This trade represents a 10.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 127,188 shares of company stock valued at $23,029,558 over the last ninety days. Company insiders own 16.66% of the company's stock.

Coinbase Global Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.