Coinbase Global, Inc. $COIN Position Trimmed by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC decreased its holdings in Coinbase Global, Inc. (NASDAQ:COIN) by 77.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,615 shares of the cryptocurrency exchange’s stock after selling 5,405 shares during the period. KMG Fiduciary Partners LLC’s holdings in Coinbase Global were worth $236,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Coinbase Global by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 26,400,836 shares of the cryptocurrency exchange’s stock valued at $5,970,285,000 after purchasing an additional 184,043 shares in the last quarter. Geode Capital Management LLC lifted its position in Coinbase Global by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 6,098,062 shares of the cryptocurrency exchange’s stock worth $1,374,080,000 after buying an additional 189,080 shares in the last quarter. Paradigm Operations LP lifted its position in Coinbase Global by 3.3% in the 4th quarter. Paradigm Operations LP now owns 4,262,458 shares of the cryptocurrency exchange’s stock worth $963,912,000 after buying an additional 134,425 shares in the last quarter. Norges Bank acquired a new stake in shares of Coinbase Global during the 4th quarter valued at $656,744,000. Finally, ARK Investment Management LLC boosted its stake in shares of Coinbase Global by 6.1% during the 4th quarter. ARK Investment Management LLC now owns 2,541,928 shares of the cryptocurrency exchange’s stock valued at $574,832,000 after buying an additional 146,388 shares during the period. 68.84% of the stock is owned by hedge funds and other institutional investors.

Coinbase Global Trading Down 0.1%

Coinbase Global stock opened at $148.58 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42. The company has a market capitalization of $39.20 billion, a price-to-earnings ratio of -38.69 and a beta of 3.36. Coinbase Global, Inc. has a one year low of $139.11 and a one year high of $402.16. The company’s fifty day moving average price is $158.76 and its two-hundred day moving average price is $176.77.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, July 30th. The cryptocurrency exchange reported ($1.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.92). The company had revenue of $1.22 billion during 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%.Coinbase Global’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the prior year, the firm earned $5.14 EPS. On average, analysts forecast that Coinbase Global, Inc. will post -0.05 earnings per share for the current fiscal year.

Key Coinbase Global News

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

• Positive Sentiment: Abu Dhabi approval expands Coinbase’s international ambitions. Coinbase received permission from Abu Dhabi’s financial regulator to establish a hub for tokenized securities, including blockchain-based custody and trading of global stocks. The approval could help Coinbase diversify beyond U.S. crypto trading and build institutional revenue internationally. Coinbase Builds Abu Dhabi Hub to Put Global Stocks Onchain
• Positive Sentiment: Coinbase is adding payments for artificial-intelligence agents. Its Coinbase Business suite now supports machine-to-machine payments through the x402 standard, with transactions settling in USDC. The initiative could create new stablecoin payment volume and strengthen Coinbase’s role in emerging AI commerce. Coinbase Enables Businesses to Get Paid by AI Agents
• Positive Sentiment: Broader crypto adoption remains a supportive theme. CEO Brian Armstrong highlighted stablecoins, decentralized finance, Bitcoin and tokenized assets as expanding global financial access. A cooling labor market also supported a broader risk-asset rally in the prior session, potentially benefiting crypto-linked stocks. Brian Armstrong on Crypto Financial Access
• Neutral Sentiment: U.S. regulatory developments remain uncertain. The SEC may pursue new crypto rules without waiting for Congress to pass the CLARITY Act. Clearer rules could benefit Coinbase, but new requirements or an unfavorable framework could increase compliance costs and limit certain activities. The SEC and New Crypto Rules
• Negative Sentiment: Bitcoin’s downturn remains a key risk for COIN. Analysts warned that technical support levels could fail, potentially triggering further selling. Because Coinbase’s trading activity and revenue are highly sensitive to crypto prices and market volumes, weakness in Bitcoin can pressure the stock.
• Negative Sentiment: Recent operating results were weaker than expected. Coinbase’s latest quarterly report missed consensus earnings and revenue estimates, while revenue declined year over year. The stock also remains below its 50-day and 200-day moving averages, reflecting continued investor caution.

Wall Street Analyst Weigh In

COIN has been the topic of a number of research reports. Oppenheimer dropped their price target on shares of Coinbase Global from $209.00 to $193.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Citizens Jmp reduced their price objective on Coinbase Global from $355.00 to $325.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Cantor Fitzgerald dropped their target price on Coinbase Global from $250.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $208.00 price target on shares of Coinbase Global in a research note on Wednesday, June 17th. Finally, Wolfe Research set a $325.00 price target on Coinbase Global in a report on Thursday, July 9th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $215.11.

Insider Buying and Selling

In other Coinbase Global news, insider Lawrence J. Brock sold 6,616 shares of the company’s 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 $97,718.17. This represents a 92.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer N. Jones sold 2,051 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $158.15, for a total value of $324,365.65. 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 sold a total of 65,695 shares of company stock valued at $10,388,854 over the last 90 days. 16.66% of the stock is currently owned by insiders.

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.