REX Advisers LLC Makes New $950,000 Investment in Coinbase Global, Inc. $COIN

REX Advisers LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the cryptocurrency exchange’s stock, valued at approximately $950,000. Coinbase Global makes up about 4.2% of REX Advisers LLC’s holdings, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paradigm Operations LP increased its holdings in Coinbase Global by 3.3% in the fourth quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock valued at $963,912,000 after buying an additional 134,425 shares in the last quarter. Amova Asset Management Americas Inc. boosted its stake in shares of Coinbase Global by 0.8% during the 4th quarter. Amova Asset Management Americas Inc. now owns 1,721,198 shares of the cryptocurrency exchange’s stock worth $389,215,000 after acquiring an additional 13,187 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Coinbase Global during the 2nd quarter valued at about $142,995,000. Hsbc Holdings PLC increased its stake in shares of Coinbase Global by 10.6% in the 4th quarter. Hsbc Holdings PLC now owns 482,427 shares of the cryptocurrency exchange’s stock valued at $109,635,000 after purchasing an additional 46,319 shares in the last quarter. Finally, Southpoint Capital Advisors LP purchased a new position in shares of Coinbase Global in the 1st quarter valued at about $104,766,000. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In other Coinbase Global news, Director Marc L. Andreessen sold 13,676 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $186.18, for a total value of $2,546,197.68. Following the completion of the sale, the director directly owned 1,115,810 shares of the company’s stock, valued at $207,741,505.80. This trade represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frederick R. Wilson sold 35,068 shares of Coinbase Global stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $144.32, for a total value of $5,061,013.76. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 127,188 shares of company stock valued at $23,029,558. Company insiders own 16.66% of the company’s stock.

Coinbase Global Price Performance

Shares of COIN traded down $6.45 during trading hours on Thursday, hitting $172.00. 11,027,516 shares of the stock were exchanged, compared to its average volume of 10,201,860. The stock’s 50-day moving average price is $174.50 and its two-hundred day moving average price is $175.31. Coinbase Global, Inc. has a 12-month low of $139.11 and a 12-month high of $402.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.42 and a current ratio of 2.42. The company has a market cap of $45.38 billion, a price-to-earnings ratio of -44.79 and a beta of 3.41.

Coinbase Global (NASDAQ:COIN) last released its earnings results 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 analysts’ expectations of $1.29 billion. Coinbase Global had a positive return on equity of 3.12% and a negative net margin of 15.72%.Coinbase Global’s quarterly 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. Research analysts expect that Coinbase Global, Inc. will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Morgan Stanley assumed coverage on Coinbase Global in a research report on Thursday, September 10th. They set an “equal weight” rating and a $250.00 price target on the stock. Barclays boosted their price objective on Coinbase Global from $95.00 to $149.00 and gave the company an “underweight” rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $244.00 target price on shares of Coinbase Global in a research note on Wednesday. HC Wainwright reissued a “buy” rating and issued a $265.00 price target on shares of Coinbase Global in a research note on Friday, July 31st. Finally, Needham & Company LLC cut their price target on shares of Coinbase Global from $220.00 to $177.00 and set a “buy” rating for the company in a report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $225.44.

Key Stories Impacting Coinbase Global

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

• Positive Sentiment: Derivatives expansion: Coinbase completed its Deribit integration, giving eligible U.S. customers access to global options and perpetual-futures liquidity through its regulated platform. Coinbase also plans to revive the Coinbase Pro brand by year-end with spot, derivatives, margin and equities trading, potentially increasing trading volume and fee revenue. Coinbase brings global crypto derivatives liquidity to US with Deribit integration
• Positive Sentiment: USDC and payments growth: Samsung plans to add Coinbase-backed USDC wallet functionality for U.S. Galaxy users later this month. Wider stablecoin distribution could strengthen Coinbase’s recurring revenue opportunities across payments, custody and its Base network. Samsung Brings USDC to Galaxy Wallet Users in US With Coinbase-Backed Launch
• Positive Sentiment: Analyst support: BTIG reiterated its Buy rating and $240 price target, citing strengthening fundamentals and Coinbase’s diversification beyond spot crypto trading. BTIG reiterates Buy rating on Coinbase
• Neutral Sentiment: Government Bitcoin transfers: U.S. agencies moved roughly $1.87 billion of seized Bitcoin, including transfers to Coinbase Prime. The movements may generate custody or execution activity, but no confirmed sale has been reported, limiting the immediate revenue and supply implications. US government moves $1B in seized Bitcoin
• Positive Sentiment: Regulatory tailwind in Illinois: A federal judge blocked Illinois from enforcing certain sports-wagering restrictions against Kalshi and Coinbase, although related fees remain unresolved. Kalshi receives partial Illinois court win
• Negative Sentiment: Michigan pullback: Coinbase will discontinue sports prediction markets for Michigan customers after the state attorney general increased pressure to bring sports betting platforms into compliance. The move highlights continuing regulatory risk for Coinbase’s newer prediction-market business. Coinbase users in Michigan lose sports markets
• Negative Sentiment: Crypto-market weakness: Bitcoin and other crypto-linked equities have recently sold off amid a broader “perfect storm” of market and digital-asset headwinds, weighing on Coinbase’s transaction-driven outlook. Coinbase and Robinhood stocks fall as crypto rally weakens

Coinbase Global Profile

Coinbase Global, Inc operates a digital-asset platform that enables individuals, businesses and institutions to buy, sell, store and use cryptocurrencies. Its services include a cryptocurrency exchange, digital-asset custody, staking and related trading products, as well as tools designed to support institutional participation in the crypto economy.

The company also offers Coinbase Wallet, a self-custody wallet that allows users to manage digital assets and interact with decentralized applications.