SEB Asset Management AB Makes New Investment in Coinbase Global, Inc. $COIN

SEB Asset Management AB purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 42,228 shares of the cryptocurrency exchange’s stock, valued at approximately $7,373,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COIN. Integrated Wealth Concepts LLC grew its position in Coinbase Global by 24.2% in the first quarter. Integrated Wealth Concepts LLC now owns 2,119 shares of the cryptocurrency exchange’s stock valued at $365,000 after purchasing an additional 413 shares in the last quarter. Empowered Funds LLC lifted its position in Coinbase Global by 25.8% during the 1st quarter. Empowered Funds LLC now owns 8,581 shares of the cryptocurrency exchange’s stock worth $1,478,000 after buying an additional 1,761 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Coinbase Global by 9.9% during the 1st quarter. Focus Partners Wealth now owns 5,202 shares of the cryptocurrency exchange’s stock worth $896,000 after buying an additional 467 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Coinbase Global during the 2nd quarter worth about $285,000. Finally, Cerity Partners LLC grew its holdings in shares of Coinbase Global by 8.6% in the 2nd quarter. Cerity Partners LLC now owns 17,694 shares of the cryptocurrency exchange’s stock valued at $6,203,000 after acquiring an additional 1,402 shares in the last quarter. 68.84% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Coinbase Global

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

• Positive Sentiment: Reports say lawmakers and the White House are moving toward an agreement on a crypto ethics provision, removing a key hurdle for the CLARITY Act and boosting sentiment for Coinbase and other crypto stocks. Coinbase Stock Is Rallying. Can Donald Trump’s Ethics Compromise Save the Clarity Act?
• Positive Sentiment: Scott Bessent said the legislation is at the “1-yard line,” adding to expectations that Congress may soon advance the bill and support a friendlier regulatory backdrop for Coinbase. Crypto market breakout could accelerate as AI trade cools, analyst says
• Positive Sentiment: Bitcoin’s move higher and a broader rebound in crypto-related stocks are lifting Coinbase, since its trading business tends to benefit when crypto prices and investor activity rise. Time for a crypto comeback? Traders bet that this stock will lead the way
• Positive Sentiment: Coinbase-backed Base is reportedly close to launching tokenized equities, a potential product expansion that could strengthen the company’s long-term platform story. Base’s 1:1-backed tokenized equities launch ‘imminent,’ Pollak says
• Neutral Sentiment: Some commentary suggests crypto may be nearing a bottom, which could help sentiment, but it is still only a broad market thesis rather than a company-specific catalyst. This Top Investment Firm Says the Crypto Market Is Nearing a Bottom. Here’s What It Could Mean for Coinbase.
• Neutral Sentiment: CEO Brian Armstrong’s comments on inflation, Bitcoin mining, and meme-coin trading are mostly market commentary and brand visibility items, with limited direct near-term impact on Coinbase fundamentals. Coinbase CEO Brian Armstrong: Hash Power Doesn’t Determine Bitcoin’s Price
• Negative Sentiment: Prediction markets suggest Coinbase’s second-quarter trading volume could come in below some expectations, which would be a headwind if activity remains soft when earnings are reported. Coinbase trading results may fall short of expectations, according to prediction markets

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on COIN shares. Citigroup reaffirmed a “market outperform” rating on shares of Coinbase Global in a research report on Thursday, July 9th. BTIG Research decreased their price target on Coinbase Global from $280.00 to $260.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Rothschild & Co Redburn boosted their target price on shares of Coinbase Global from $254.00 to $263.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, Citizens Jmp dropped their price objective on shares of Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Coinbase Global currently has an average rating of “Hold” and a consensus target price of $245.39.

Insiders Place Their Bets

In other Coinbase Global news, insider Paul Grewal sold 1,960 shares of Coinbase Global stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $176.88, for a total value of $346,684.80. Following the transaction, the insider owned 84,753 shares in the company, valued at $14,991,110.64. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of Coinbase Global stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. 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 ninety days, insiders sold 30,627 shares of company stock valued at $5,327,841. 16.66% of the stock is owned by corporate insiders.

Coinbase Global Stock Up 9.6%

NASDAQ COIN opened at $175.85 on Wednesday. The business has a fifty day moving average price of $168.65 and a two-hundred day moving average price of $185.89. The stock has a market capitalization of $46.33 billion, a PE ratio of 66.11, a PEG ratio of 10.35 and a beta of 3.35. Coinbase Global, Inc. has a fifty-two week low of $139.18 and a fifty-two week high of $420.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.14 and a quick ratio of 2.14.

Coinbase Global (NASDAQ:COIN) last issued 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 4.16%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was down 30.5% on a year-over-year basis. Equities analysts expect that Coinbase Global, Inc. will post 1.41 earnings per share for the current fiscal year.

Coinbase Global Company 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.