Mizuho Markets Cayman LP Cuts Stock Holdings in Coinbase Global, Inc. $COIN

Mizuho Markets Cayman LP trimmed its stake in Coinbase Global, Inc. (NASDAQ:COIN) by 40.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,000 shares of the cryptocurrency exchange’s stock after selling 61,000 shares during the period. Coinbase Global makes up approximately 0.8% of Mizuho Markets Cayman LP’s portfolio, making the stock its 19th biggest holding. Mizuho Markets Cayman LP’s holdings in Coinbase Global were worth $15,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. bought a new position in shares of Coinbase Global in the 4th quarter worth $27,000. Palisade Asset Management LLC bought a new stake in shares of Coinbase Global during the 3rd quarter worth $29,000. Osbon Capital Management LLC bought a new stake in shares of Coinbase Global during the 4th quarter worth $30,000. Archer Investment Corp grew its position in Coinbase Global by 546.4% in the first quarter. Archer Investment Corp now owns 181 shares of the cryptocurrency exchange’s stock worth $32,000 after acquiring an additional 153 shares in the last quarter. Finally, Brooklands Fund Management Ltd purchased a new position in Coinbase Global in the fourth quarter worth $34,000. 68.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COIN has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 target price on shares of Coinbase Global in a research note on Wednesday, June 17th. Jefferies Financial Group lifted their price target on Coinbase Global from $151.00 to $181.00 and gave the stock a “hold” rating in a research note on Thursday, April 9th. The Goldman Sachs Group upped their price objective on Coinbase Global from $226.00 to $228.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. KeyCorp reiterated a “sector weight” rating on shares of Coinbase Global in a research report on Wednesday, June 17th. Finally, Bank of America decreased their price objective on Coinbase Global from $288.00 to $234.00 in a report on Thursday, April 2nd. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $245.39.

Insider Buying and Selling

In other news, insider Lawrence J. Brock sold 6,616 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $189.01, for a total transaction of $1,250,490.16. Following the completion of the sale, the insider owned 517 shares of the company’s stock, valued at approximately $97,718.17. This represents a 92.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 N. Jones sold 2,051 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $158.15, for a total transaction of $324,365.65. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 30,627 shares of company stock valued at $5,327,841 in the last 90 days. 16.66% of the stock is owned by insiders.

Coinbase Global Stock Performance

Coinbase Global stock opened at $166.12 on Thursday. The firm has a fifty day simple moving average of $167.94 and a two-hundred day simple moving average of $185.46. Coinbase Global, Inc. has a twelve month low of $139.18 and a twelve month high of $405.31. The company has a market capitalization of $43.77 billion, a PE ratio of 62.45, a P/E/G 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.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings data on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) EPS for the quarter, missing the consensus estimate of $0.06 by ($1.55). Coinbase Global had a return on equity of 4.16% and a net margin of 12.20%.The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The firm’s quarterly revenue was down 30.5% on a year-over-year basis. Research analysts expect that Coinbase Global, Inc. will post 1.41 EPS for the current year.

Trending Headlines about Coinbase Global

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?

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.