NEOS Investment Management LLC Acquires 3,617 Shares of Coinbase Global, Inc. $COIN

NEOS Investment Management LLC boosted its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 11.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,349 shares of the cryptocurrency exchange’s stock after purchasing an additional 3,617 shares during the period. NEOS Investment Management LLC’s holdings in Coinbase Global were worth $5,168,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Archer Investment Corp bought a new stake in shares of Coinbase Global during the second quarter worth $26,000. MV Capital Management Inc. bought a new position in shares of Coinbase Global in the fourth quarter valued at about $27,000. Palisade Asset Management LLC bought a new position in shares of Coinbase Global in the third quarter valued at about $29,000. Osbon Capital Management LLC acquired a new position in Coinbase Global during the 4th quarter worth about $30,000. Finally, Glen Eagle Advisors LLC lifted its position in Coinbase Global by 101.1% during the 1st quarter. Glen Eagle Advisors LLC now owns 175 shares of the cryptocurrency exchange’s stock worth $31,000 after buying an additional 88 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling

In other Coinbase Global news, Director Frederick Wilson sold 35,068 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Jones sold 2,062 shares of Coinbase Global stock in a transaction on Monday, August 24th. The stock was 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 ninety days, insiders sold 57,130 shares of company stock worth $8,830,416. Insiders own 16.66% of the company’s stock.

Coinbase Global News Summary

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

• Positive Sentiment: U.S. equity perpetuals could expand revenue: Coinbase filed SEC notices covering plans to offer 24/7 single-stock perpetual futures to U.S. traders. The products could broaden Coinbase’s derivatives business and strengthen its “everything exchange” strategy, although Commodity Futures Trading Commission approval is still required and launch details remain undisclosed. Coinbase Brings 24/7 Stock Perpetuals to the US
• Positive Sentiment: International derivatives expansion: Coinbase launched regulated crypto derivatives trading in Canada, adding perpetual and dated contracts tied to major digital assets. The launch may increase trading volume, diversify revenue and support its global growth strategy. Can Canada’s Derivatives Launch Boost Coinbase’s Global Growth?
• Positive Sentiment: Crypto-policy optimism remains supportive: Investors continue to watch potential U.S. crypto market-structure legislation, including a Senate procedural vote expected September 15. Clearer rules could benefit Coinbase as a regulated exchange and custody provider.
• Neutral Sentiment: Board and investor-outreach updates: Coinbase added Anthony Armstrong, former CFO of xAI and X, to its board and plans appearances at upcoming Citi and Goldman Sachs conferences. These developments may provide strategic updates but do not change near-term earnings expectations.
• Negative Sentiment: Macro pressure on crypto assets: The hotter-than-expected jobs report increased the prospect of higher-for-longer interest rates, weighing on Bitcoin and other risk assets. Lower crypto prices and trading activity can reduce Coinbase’s transaction revenue, despite the possibility that higher rates support stablecoin income. Coinbase Slides as Hot Jobs Report Dents 10% Rally
• Negative Sentiment: Mixed analyst and insider signals: Zacks placed COIN on its “Strong Sell” list, while a director sold 10,000 shares for approximately $1.79 million under a pre-arranged Rule 10b5-1 plan. Coinbase also recently reported an earnings and revenue miss, with revenue down year over year. New Strong Sell Stocks for September 3rd

Coinbase Global Stock Performance

Coinbase Global stock opened at $184.64 on Monday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.45. Coinbase Global, Inc. has a 1 year low of $139.11 and a 1 year high of $402.16. The company has a market cap of $48.72 billion, a PE ratio of -48.08 and a beta of 3.39. The company’s 50-day moving average is $163.48 and its two-hundred day moving average is $175.61.

Coinbase Global (NASDAQ:COIN) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.14 EPS. Equities analysts anticipate that Coinbase Global, Inc. will post -0.39 earnings per share for the current year.

Analysts Set New Price Targets

COIN has been the subject of several research reports. Piper Sandler lowered their price objective on shares of Coinbase Global from $155.00 to $146.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Citizens Jmp reduced their target price on shares of Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. BTIG Research lowered their price target on shares of Coinbase Global from $260.00 to $240.00 and set a “buy” rating for the company in a report on Friday, July 31st. Argus restated a “hold” rating on shares of Coinbase Global in a research report on Wednesday, August 26th. Finally, President Capital boosted their price objective on shares of Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $216.87.

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.