Liontrust Investment Partners LLP Grows Stock Holdings in Coinbase Global, Inc. $COIN

Liontrust Investment Partners LLP grew its position in Coinbase Global, Inc. (NASDAQ:COIN) by 12.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,179 shares of the cryptocurrency exchange’s stock after buying an additional 5,434 shares during the period. Liontrust Investment Partners LLP’s holdings in Coinbase Global were worth $8,587,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of COIN. MV Capital Management Inc. purchased a new position in Coinbase Global in the fourth quarter worth $27,000. Palisade Asset Management LLC purchased a new stake in shares of Coinbase Global during the 3rd quarter valued at $29,000. Osbon Capital Management LLC purchased a new stake in shares of Coinbase Global during the 4th quarter valued at $30,000. Glen Eagle Advisors LLC boosted its position 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 worth $31,000 after purchasing an additional 88 shares in the last quarter. Finally, Archer Investment Corp boosted its position in shares of Coinbase Global by 546.4% in the 1st quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock worth $32,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COIN. Raymond James Financial started coverage on Coinbase Global in a research report on Wednesday, July 22nd. They set a “market perform” rating on the stock. Zacks Research raised Coinbase Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Rosenblatt Securities restated a “buy” rating and set a $240.00 price target on shares of Coinbase Global in a research note on Tuesday. Piper Sandler dropped their price target on Coinbase Global from $170.00 to $155.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Finally, Benchmark restated a “buy” rating on shares of Coinbase Global in a report on Wednesday, July 22nd. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $233.47.

Insider Buying and Selling

In other news, insider Paul Grewal sold 1,960 shares of the business’s 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 completion of the transaction, the insider owned 84,753 shares of the company’s stock, valued at $14,991,110.64. The trade was a 2.26% decrease in their position. The sale was disclosed in a filing with the SEC, 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 company’s stock in a transaction dated Friday, June 5th. The stock was 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. Insiders sold a total of 30,627 shares of company stock valued at $5,327,841 over the last quarter. 16.66% of the stock is currently owned by company insiders.

Key Coinbase Global News

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

• Positive Sentiment: Coinbase captured a record 10.3% share of global crypto trading volume, up from 9.1% in the first quarter, indicating that it is gaining market share even as overall industry activity weakens. The company also highlighted growth in derivatives, stablecoins, tokenized finance, prediction markets and subscription services. Coinbase Q2 results and record market share
• Positive Sentiment: A Manhattan federal judge dismissed much of a customer lawsuit alleging Coinbase illegally sold unregistered securities, including claims involving matched customer transactions. The ruling could reduce legal exposure, although remaining claims may still create risk. Coinbase customer lawsuit ruling
• Neutral Sentiment: Management is lobbying for the Senate’s CLARITY Act, which could establish clearer crypto-market rules and potentially make it easier for Coinbase to expand products and attract institutional and retail customers. Passage and timing remain uncertain. CLARITY Act implications for Coinbase
• Negative Sentiment: Coinbase reported a GAAP net loss of $359.5 million, or $1.36 per diluted share, versus analysts’ expected loss of roughly $122 million, while revenue fell 18.5% year over year to $1.22 billion, below estimates near $1.29 billion to $1.31 billion. This marked the company’s third consecutive quarterly loss and its third straight revenue and earnings miss. Coinbase third-quarterly loss report
• Negative Sentiment: Lower spot-crypto trading volumes and subdued market volatility reduced transaction revenue and outweighed gains in subscription and services revenue. The results raise doubts about whether Coinbase can quickly diversify beyond its traditional exchange business.

Coinbase Global Stock Performance

Shares of NASDAQ COIN opened at $163.58 on Friday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44. Coinbase Global, Inc. has a 12 month low of $139.18 and a 12 month high of $402.16. The company has a 50 day simple moving average of $164.00 and a two-hundred day simple moving average of $181.97. The stock has a market cap of $43.10 billion, a price-to-earnings ratio of 61.50, a PEG ratio of 10.30 and a beta of 3.35.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The firm’s revenue was down 30.5% compared to the same quarter last year. As a group, analysts predict that Coinbase Global, Inc. will post 1.42 earnings per share for the current year.

About Coinbase Global

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.