Mizuho Markets Cayman LP cut its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 40.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,000 shares of the cryptocurrency exchange’s stock after selling 61,000 shares during the quarter. Coinbase Global makes up approximately 0.8% of Mizuho Markets Cayman LP’s holdings, making the stock its 19th largest holding. Mizuho Markets Cayman LP’s holdings in Coinbase Global were worth $15,540,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Signature Equity Partners LLC raised its position in Coinbase Global by 14.7% during the 1st quarter. Signature Equity Partners LLC now owns 2,381 shares of the cryptocurrency exchange’s stock valued at $416,000 after purchasing an additional 306 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in shares of Coinbase Global by 37.4% in the 1st quarter. First Citizens Bank & Trust Co. now owns 40,467 shares of the cryptocurrency exchange’s stock worth $7,066,000 after buying an additional 11,020 shares during the last quarter. CI Investments Inc. grew its position in shares of Coinbase Global by 14.8% in the 1st quarter. CI Investments Inc. now owns 1,312 shares of the cryptocurrency exchange’s stock worth $229,000 after buying an additional 169 shares during the last quarter. ABN Amro Investment Solutions purchased a new position in shares of Coinbase Global during the first quarter valued at approximately $1,400,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Coinbase Global by 39.4% during the first quarter. PNC Financial Services Group Inc. now owns 35,747 shares of the cryptocurrency exchange’s stock valued at $6,242,000 after buying an additional 10,098 shares during the period. Hedge funds and other institutional investors own 68.84% of the company’s stock.
More Coinbase Global News
Here are the key news stories impacting Coinbase Global this week:
- Positive Sentiment: Coinbase is benefiting from renewed optimism around U.S. crypto legislation, with the CLARITY Act reportedly close to a Senate floor vote. CEO Brian Armstrong said the bill is ready for full Senate consideration, and advocacy group Stand With Crypto said supporters made 950,000 contacts with lawmakers, reinforcing hopes for clearer digital-asset rules. Article: 950K Contacts Back CLARITY Act as Coinbase CEO Says Bill Is Ready for Full Senate Vote
- Positive Sentiment: The SEC agreed to pay $150,000 to settle Coinbase’s FOIA lawsuit over lost agency messages, which is a symbolic legal win and supports Coinbase’s broader criticism of the regulator. Article: US SEC settles FOIA lawsuit with Coinbase over lost messages, WSJ op-ed says
- Positive Sentiment: Coinbase is also expanding its product vision, including tokenized equities and an “Everything Exchange” push in Canada, which could support long-term growth if regulators approve the rollout. Article: Coinbase Wants to Be Canada’s One-Stop Shop for Stocks, Crypto and Prediction Markets
- Neutral Sentiment: Coinbase is being discussed more heavily by investors and media, but some of the coverage is commentary or interview-based rather than a direct business catalyst. Article: Coinbase’s John D’Agostino on why tokenized equities could transform investing
- Negative Sentiment: Raymond James initiated coverage with a “Market Perform” rating, citing valuation concerns and limited upside. That lukewarm view weighed on Coinbase shares and likely contributed to today’s weakness. Article: Coinbase Settles Records Lawsuit With the SEC: $150,000 and a Retention Overhaul
- Negative Sentiment: Investors are also focusing on leadership turnover, after Coinbase’s chief legal officer said he will step down at the end of July, adding another layer of uncertainty. Article: Coinbase Global (COIN) Faces A Legal Shake Up, Is It Still A Bargain?
Insider Transactions at Coinbase Global
Analyst Upgrades and Downgrades
A number of brokerages recently commented on COIN. President Capital raised their price target on Coinbase Global from $236.00 to $264.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Sanford C. Bernstein reduced their price objective on shares of Coinbase Global from $440.00 to $330.00 and set an “outperform” rating on the stock in a research report on Monday, March 30th. Monness Crespi & Hardt restated a “sell” rating on shares of Coinbase Global in a report on Friday, June 5th. Wolfe Research set a $325.00 target price on shares of Coinbase Global in a research report on Thursday, July 9th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Coinbase Global in a research report on Wednesday, June 17th. Eighteen research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $245.39.
Coinbase Global Trading Down 5.5%
COIN opened at $166.12 on Thursday. The stock has a market cap of $43.77 billion, a PE ratio of 62.45, a PEG ratio of 11.34 and a beta of 3.35. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $167.94 and a 200-day moving average of $185.46. Coinbase Global, Inc. has a 52 week low of $139.18 and a 52 week high of $405.31.
Coinbase Global (NASDAQ:COIN – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.55). The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.Coinbase Global’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. Equities research analysts predict 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.
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