Whetstone Capital Advisors LLC Boosts Stake in Coinbase Global, Inc. $COIN

Whetstone Capital Advisors LLC increased its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 86.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,048 shares of the cryptocurrency exchange’s stock after purchasing an additional 21,788 shares during the quarter. Coinbase Global accounts for 1.8% of Whetstone Capital Advisors LLC’s portfolio, making the stock its 15th biggest holding. Whetstone Capital Advisors LLC’s holdings in Coinbase Global were worth $6,878,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of COIN. National Pension Service boosted its position in shares of Coinbase Global by 117.1% during the second quarter. National Pension Service now owns 641,518 shares of the cryptocurrency exchange’s stock valued at $93,784,000 after buying an additional 346,045 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Coinbase Global during the 2nd quarter valued at about $417,000. Integrated Wealth Concepts LLC grew its stake in shares of Coinbase Global by 111.2% in the second quarter. Integrated Wealth Concepts LLC now owns 11,585 shares of the cryptocurrency exchange’s stock worth $1,694,000 after acquiring an additional 6,100 shares during the period. IFP Advisors Inc raised its holdings in shares of Coinbase Global by 10.8% during the second quarter. IFP Advisors Inc now owns 9,134 shares of the cryptocurrency exchange’s stock valued at $1,335,000 after purchasing an additional 887 shares during the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of Coinbase Global by 34.1% during the second quarter. Baird Financial Group Inc. now owns 47,202 shares of the cryptocurrency exchange’s stock valued at $6,900,000 after purchasing an additional 12,002 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Coinbase selected ION’s XTP for Event Contracts to support clearing for Kalshi, strengthening the company’s infrastructure as it expands into prediction markets. The partnership could create additional transaction and technology revenue opportunities. ION partners with Coinbase to support Kalshi’s event contracts
• Positive Sentiment: Coinbase is expanding its Morpho-powered DeFi Earn product to Brazil, allowing eligible customers to earn additional rewards on USDC without a lock-up period. The move supports international growth and could increase stablecoin balances and on-chain activity. Coinbase Expands USDC Stablecoin Rewards via Morpho Onchain Lending to Brazil
• Positive Sentiment: Coinbase continues to promote tokenized stocks and on-chain finance, positioning itself for potential growth if digital-asset regulation becomes clearer and traditional financial products move onto blockchain networks. CLARITY Act Senate Vote Set for September 15 as Coinbase Pushes Tokenized Stocks
• Neutral Sentiment: The Senate’s planned September 15 procedural vote on the CLARITY Act is a major near-term catalyst. Passage could provide regulatory clarity, but the bill may lack the 60 votes needed to advance, leaving the timing and impact uncertain. CLARITY Act Vote Hinges on Critical Ethics Talks For Democrat Support
• Neutral Sentiment: Coinbase’s investor presentation at the Goldman Sachs Communacopia and Technology Conference kept management’s strategy in focus, but the transcript headline provides no specific new earnings guidance or material forecast revision. Coinbase Global Presents at Goldman Sachs Conference
• Negative Sentiment: Congressional scheduling changes and an early recess could delay consideration of crypto-market legislation, extending regulatory uncertainty for Coinbase and other digital-asset businesses. Congress Recess Plans Throws Another Roadblock Up for Crypto Bill
• Negative Sentiment: Zcash’s sharp rally highlights investor interest in privacy-focused cryptocurrencies, potentially diverting speculative capital from Coinbase’s broader trading ecosystem and emphasizing the volatility of crypto-asset demand. Zcash Is Up More Than 2,000% in a Year

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on COIN shares. Piper Sandler dropped their target price on shares of Coinbase Global from $155.00 to $146.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Raymond James Financial began coverage on shares of Coinbase Global in a research note on Wednesday, July 22nd. They set a “market perform” rating for the company. Weiss Ratings cut Coinbase Global from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Sanford C. Bernstein restated an “outperform” rating and issued a $330.00 price target on shares of Coinbase Global in a research note on Friday, July 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Coinbase Global in a report on Friday, July 31st. 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 stock currently has a consensus rating of “Hold” and a consensus target price of $217.66.

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 stock was 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 Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,062 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $188.75, for a total value of $389,202.50. 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 have sold 57,130 shares of company stock worth $8,830,416 over the last quarter. 16.66% of the stock is owned by company insiders.

Coinbase Global Stock Down 2.4%

COIN opened at $174.72 on Thursday. The firm’s 50 day simple moving average is $165.10 and its two-hundred day simple moving average is $175.91. The company has a market capitalization of $46.10 billion, a PE ratio of -45.50 and a beta of 3.39. Coinbase Global, Inc. has a 1-year low of $139.11 and a 1-year high of $402.16. 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 (NASDAQ:COIN) last issued its quarterly earnings data on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.29 billion. Coinbase Global had a negative net margin of 15.72% and a positive return on equity of 3.12%. The company’s revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $5.14 EPS. As a group, equities analysts forecast that Coinbase Global, Inc. will post -0.39 EPS for the current year.

About Coinbase Global

Coinbase Global, Inc operates a digital asset and cryptocurrency platform serving retail users, institutions, developers and ecosystem partners. Through its exchange, customers can buy, sell, convert, store and transfer a range of cryptocurrencies and other digital assets. The company also provides an advanced trading platform for more experienced users and services designed for institutional trading and market access.

Its product offerings include custodial services, institutional prime brokerage and custody, staking services, a self-custody wallet, and tools that enable developers and businesses to build applications using blockchain networks.