Sterling Capital Management LLC Lowers Position in Coinbase Global, Inc. $COIN

Sterling Capital Management LLC cut its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 42.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,949 shares of the cryptocurrency exchange’s stock after selling 5,149 shares during the quarter. Sterling Capital Management LLC’s holdings in Coinbase Global were worth $1,213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. North Dakota State Investment Board bought a new position in shares of Coinbase Global in the 4th quarter worth about $1,626,000. Mizuho Markets Cayman LP purchased a new stake in Coinbase Global in the fourth quarter worth about $33,921,000. Harvest Portfolios Group Inc. grew its holdings in Coinbase Global by 21.7% in the fourth quarter. Harvest Portfolios Group Inc. now owns 376,578 shares of the cryptocurrency exchange’s stock worth $85,159,000 after purchasing an additional 67,082 shares during the period. Axxcess Wealth Management LLC increased its stake in shares of Coinbase Global by 303.6% during the fourth quarter. Axxcess Wealth Management LLC now owns 20,316 shares of the cryptocurrency exchange’s stock valued at $4,594,000 after purchasing an additional 15,282 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Coinbase Global by 1.4% during the fourth quarter. Legal & General Group Plc now owns 1,210,082 shares of the cryptocurrency exchange’s stock valued at $273,648,000 after purchasing an additional 16,298 shares during the last quarter. Institutional investors own 68.84% of the company’s stock.

Key Coinbase Global News

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

• Positive Sentiment: Bernstein said Robinhood, Coinbase, and DraftKings could challenge established prediction-market players like Kalshi and Polymarket by launching their own exchanges, highlighting a potentially new revenue stream for COIN. Article Title
• Positive Sentiment: Coinbase is positioning itself to benefit from the rollout of the EU’s MiCA rules by trying to attract users leaving unlicensed exchanges such as Binance and Bybit, which could support international growth. Article Title
• Positive Sentiment: Several articles highlighted Coinbase’s push into “agentic commerce,” stablecoin payments, and tokenized stock infrastructure, reinforcing the long-term bull case that COIN could become a key blockchain payments platform beyond crypto trading. Article Title
• Neutral Sentiment: Coinbase remained a widely watched stock in Zacks coverage, but those pieces did not point to a specific near-term catalyst, mostly reflecting continued investor interest in the name. Article Title
• Neutral Sentiment: Coinbase CEO Brian Armstrong’s comments on keeping AI spending low and limiting risky betting promotion in Base were more about operational discipline and reputational management than an immediate earnings driver. Article Title
• Negative Sentiment: Bitcoin fell below key levels and crypto prices broadly weakened, which tends to pressure Coinbase because its trading volumes and investor sentiment are closely tied to crypto market direction. Article Title
• Negative Sentiment: A Seeking Alpha piece argued that bullish investors are overlooking the weak reality behind the stock’s setup, suggesting skepticism about Coinbase’s near-term fundamentals and valuation. Article Title
• Negative Sentiment: Base, Coinbase’s layer-2 network, disclosed a sequencer bug behind recent outages, adding operational risk and raising concerns about reliability of part of Coinbase’s broader ecosystem. Article Title

Coinbase Global Stock Up 1.7%

Coinbase Global stock opened at $151.65 on Tuesday. The firm has a market cap of $39.95 billion, a price-to-earnings ratio of 57.01, a PEG ratio of 5.26 and a beta of 3.32. The stock has a fifty day simple moving average of $180.78 and a two-hundred day simple moving average of $195.43. Coinbase Global, Inc. has a 12 month low of $139.18 and a 12 month high of $444.64. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.44.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings results on Thursday, May 7th. The cryptocurrency exchange reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($1.55). Coinbase Global had a net margin of 12.20% and a return on equity of 4.16%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company earned $0.24 earnings per share. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. Equities analysts predict that Coinbase Global, Inc. will post 1.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on COIN. Benchmark reissued a “buy” rating and issued a $270.00 price target on shares of Coinbase Global in a research report on Wednesday, June 17th. Barclays reiterated an “underweight” rating on shares of Coinbase Global in a research note on Wednesday, June 17th. Weiss Ratings raised Coinbase Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Piper Sandler cut their target price on Coinbase Global from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Finally, KeyCorp restated a “sector weight” rating on shares of Coinbase Global in a report on Wednesday, June 17th. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $250.65.

Insider Activity

In other news, CAO Jennifer N. Jones sold 2,051 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $158.15, for a total transaction of $324,365.65. The transaction was disclosed in a document filed 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, 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 transaction, the insider owned 517 shares in the company, valued at $97,718.17. This trade represents a 92.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 30,647 shares of company stock worth $5,740,941. Company insiders own 16.66% of the company’s stock.

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.